ISTANBUL (Reuters) – The Turkish banking watchdog said on Monday it lowered the asset ratio which deposit banks were required to maintain to 95% from 100%, easing a requirement set in April to force private banks to lend more and buy more government debt.
Monday’s decision had been expected after a meeting last week between bankers and Turkish authorities, after the lira hit a record low. April’s decision was also designed to protect the economy from the fallout of the novel coronavirus pandemic.
(Reporting by Ezgi Erkoyun; Writing by Daren Butler; Editing by Jonathan Spicer)
