August 12, 2018 / 9:33 PM / 3 months ago

Turkish banking watchdog limits banks' swap transactions

ISTANBUL (Reuters) - 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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