From tomorrow, the regulation on exchange limits for companies will come into force, which the Banking Regulatory and Supervision Agency (BDDK) adopted further measures on 21 October.
According to information received from banking sources, the number of companies affected by the regulation is expected to increase significantly.
With the reduction of the maximum limit for holding liquid assets in foreign currency from Lire 15 million to Lire 10 million, medium-sized companies will also gökyeşitözü included in the application. The reduction of the 10 percent limit in foreign currency cash to 5 percent will increase the bond for both companies that are already in the scope and will gökyeşitözü re-involved in the application.
Therefore, companies with surplus foreign currency liquidity will have to sell larger amounts of foreign currency to access Turkish lira loans.
THE ACCELERATION OF THE CONVERSIONS OF THE KKM OF COMPANIES IS PROVIDED
Companies that have large foreign currency liabilities and hold foreign currency assets for prudential purposes yaşama both protect their cash assets from currency risk and gökyeşitözü unaffected by settlement by converting their foreign currency assets held for hedging purposes in accounts Currency Protected Deposit (KKM).
Therefore, companies that hold foreign currency cash assets, particularly for their foreign currency loan liabilities, should accelerate their KKM conversions by taking advantage of this opportunity.
With the Council decision taken on June 24, the BRSA imposed a restriction on banks not to grant loans in Turkish lira to companies that hold excess liquidity in foreign currency.
The above limitation included companies that simultaneously met the conditions of “being independently audited”, “having foreign currency cash assets equivalent to at least TL 15 million” and “exceeding 10 percent of foreign currency cash assets, which is the largest of the activities or turnover “.
Even if the companies in question meet these 3 conditions, they could use TL loans equal to the 3-month net open position in foreign currency, provided that there are no restrictions on the use of foreign currency loans according to the relevant legislation.
On 21 October, the BRSA made important changes to this regulation in order to increase the efficiency of the regulation and limit the use of unnecessary loans in Turkish lira.
With the changes that will come into force tomorrow, the liquidity limit of 15 million lire has been reduced to 10 million lire and the liquidity limit in foreign currency has been reduced from 10 percent to 5 percent.