Normalization steps from BRSA in terms of swap and TRY access

Normalization steps from BRSA in terms of swap and TRY access

Vakıf Katılım

The BRSA made a statement regarding the limits on TRY transactions with overseas residents. According to this;

·  Flexibility in the regulation limiting the TRY access of non-residents.

·  Domestic TRY borrowing opportunity to International Development Banks such as EBRD and IFC.

·  Foreign Custody Center Organizations and the International Development Banks are permitted to use TRY purchase swap facility in both BIST FX swap market and with Investment and Development Bank of Turkey.

Thus, BRSA has taken a step towards for normalization by providing flexibility in terms of swap facility and TRY access by non-residents. Thus, organizations such as EBRD will be able to access TRY more easily and the movement area will increase. Within the framework of the flexibility brought in the International Development Banks, TRY-legged transactions normally applied to foreign residents were exempted from 1% equity limitation.

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