ARTICLE
2 December 2020

BRSA Abolished The Obligation Of Banks To Calculate Their Active Ratio

Sadık & Çapan

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Sadık & Çapan is an independent and a boutique law firm based in Istanbul, Turkey. With its experienced team, Sadık & Çapan provides legal advisory services to local and foreign corporations and banks, public companies, investment funds, brokerage firms, asset management companies, venture capital companies, individuals and start-ups, in the fields of banking and finance, securities and capital markets, corporate, commercial and employment laws. Our firm is highly qualified and skilled in advising public companies in their daily operations particularly about their regulatory filings, corporate governance activities, reporting and disclosure requirements and various securities offerings including IPOs, cross-border and domestic debt and equity offerings (DCM and ECM deals) involving Reg S/144A issuances, Sukuk transactions and also, highly specialized in different types of loan and security transactions, alternative financing models and financial and regulatory compliance matters.
On 24 November 2020, with its decision numbered 9271, Banking Regulation and Supervision Agency ("BRSA"), has removed the obligation of Turkish banks to calculate their active ratio on a weekly basis.
Turkey Finance and Banking

On 24 November 2020, with its decision numbered 9271, Banking Regulation and Supervision Agency ("BRSA"), has removed the obligation of Turkish banks to calculate their active ratio on a weekly basis which has been in effect since 1 May 2020 for the purpose of mitigating the negative impact of Covid-19 pandemic to the economy and the markets and incentivizing the banks to extend loans and use their resources more efficiently. Accordingly, all the decisions of BRSA taken regarding calculation of active ratio, dated 18 April 2020 and numbered 9000, dated 30 April 2020 and numbered 9003, dated 29 May 2020 and numbered 9042, dated 10 August 2020 and numbered 9125, dated 28 September 2020 and numbered 9170, dated 26 October 2020 and numbered 9238, are abolished, which will take effect from 31 December 2020.

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