Foreign Currency Asset Limit for Turkish Lira Borrowing for Companies Subject to Independent Audit Repealed
The Banking Regulation and Supervision Agency's (the BRSA) Decision (Decision) dated 06.02.2025 and numbered 11145 was published. With the Decision, BRSA Decisions dated 24.06.2022 and numbered 10250, dated 07.07.2022 and numbered 10265, dated 28.09.2022 numbered 10348, dated 21.10.2022 and numbered 10389 and dated 04.09.2023 and numbered 10659, which restricted the Turkish lira (TL) borrowing of the companies subject to independent audit, were repealed.
With the BRSA's decision dated 24.06.2022, based on Article 93 of the Banking Law No. 5411, restrictions were imposed on companies borrow TL cash commercial loans within the scope of coordinated macroprudential steps to be taken to strengthen financial stability and to make the credit system work effectively.
In this regard, companies subject to independent audit, other than banks and financial institutions with foreign currency assets above a certain amount, were restricted from borrowing TL loans. With the BRSA's decision dated 07.07.2022, the scope of the regulation was expanded, some flexibilites were introduced to the restriction, and some financial institutions were included in the scope.
The Decision is aimed at simplifying the coordinated macroprudential steps taken to ensure the effective functioning of the credit system and makes it flexible for companies subject to independent audits to borrow TL loans.
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