Turkish Banking Watchdog Limits Banks Swap Transactions


ISTANBUL – Turkish banking watchdog BDDK said it will limit Turkish banks’ swap, spot and forward transactions with foreign investors to 50 percent of a bank’s equity.

In a statement, the BDDK said the rate will be calculated daily and new transactions will not be performed or renewed until the current excess of the amount is realized at half of a bank’s capital.

(Writing by Ezgi Erkoyun; Editing by Susan Thomas)

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