A. INTRODUCTION
The Banking Regulation and Supervision Agency ("BRSA"), under its Board Decision No. 11145 dated February 6, 2025, titled "Board Decision on the Repeal of Decisions Regarding the Purposeful Utilization of Loans" ("Decision"), has repealed various restrictions on Turkish lira-denominated cash commercial loans for certain companies. These restrictions were previously introduced under the Board Decisions No. 10250 dated June 24, 2022, No. 10265 dated July 7, 2022, No. 10438 dated September 28, 2022, No. 10389 dated October 21, 2022, and No. 10659 dated September 4, 2023 (collectively, the "Repealed Decisions").
B. REPEALED DECISIONS
The Repealed Decisions had imposed certain restrictions on Turkish lira-denominated cash commercial loans utilized by companies subject to independent audit, excluding banks and financial institutions. You can access our previous articles regarding these decisions through the links below.
- Our Article on BRSA's Decision No. 10250 dated June 24, 2022
- Our Article on BRSA's Decision No. 10265 dated July 7, 2022
- Our Article on BRSA's Decision No. 10389 dated October 21, 2022
With the Decision, the BRSA has lifted these restrictions and announced that this step was taken as part of coordinated macroprudential simplification measures aimed at strengthening financial stability and ensuring the effective functioning of the credit system.
C. CONCLUSION
The restrictions imposed under the Repealed Decisions on Turkish lira-denominated cash commercial loans have been lifted as of February 6, 2025.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
