January 18, 2019 / 3:45 PM / 6 months ago

UPDATE 1-Turkish central bank says lifts some reserve requirements

(Adds details, background)

ISTANBUL, Jan 18 (Reuters) - Turkey’s central bank said on Friday it had decided to exclude bank deposits of official institutions from liabilities subject to reserve requirements.

Analysts said the move would help state banks, which hold a large portion of deposits from official institutions, to free up liquidity to offer loans more easily.

As of November, official institutions held 69 billion lira and a foreign currency equivalent of 7.3 billion lira as required reserves, mainly in public banks, according Turkey’s banking watchdog.

Turkey’s currency crisis last year raised worries over the ability of companies to service their debt and its potential impact on the banking sector.

The Central Bank said it had also revoked a provisional article regarding reserve requirements, considering the significant decline in the liabilities under the article. (Reporting by Can Sezer; Writing by Ali Kucukgocmen Editing by Dominic Evans)

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