July 8, 2019 / 10:27 AM / 4 months ago

Turkey's AK Party to propose changes in cenbank legal reserves levels

ISTANBUL, July 8 (Reuters) - Turkish President Tayyip Erdogan’s AK Party is proposing changes in the central bank’s legal reserves and contingency reserves ratios, party official Mehmet Mus said on Monday, to bring the level in line with trade law.

Speaking to reporters, Mus also said the proposed amendment to the law will authorise the central bank to determine required reserves in terms of assets. (Reporting by Behiye Selin Taner Writing by Ezgi Erkoyun Editing by Daren Butler)

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