March 16, 2020 / 5:31 AM / in 22 days

Turkish central bank lowers remuneration rate on required reserves -bankers

ISTANBUL, March 16 (Reuters) - Turkey’s central bank has lowered the remuneration rate on required reserves to 6% from 8%, effective on March 20, two bankers with knowledge of the matter said on Monday.

Banks that fulfilled credit growth targets set by the central bank had received an additional 2%. The new move brought the remuneration for those banks to 8% from 10% previously. (Reporting by Nevzat Devranoglu; Writing by Ali Kucukgocmen; editing by Christian Schmollinger)

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