Newsletter & Legal Alerts

Financial Restructuring Framework Agreement has been executed by Turkish Banks and Other Financial Institutions

As previously noted in our Legal Alert on Draft Law on Restructuring of Debts owed to Financial Sector, the Banks Association of Turkey (Türkiye Bankalar Birliği) (the “BAT”) has announced on September 19, 2018 that a financial restructuring framework agreement (the “Framework Agreement”) has been executed by banks and other financial institutions (“Financial Institutions”) and entered into force with immediate effect.

Published on: September 2018
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Finansal Yeniden Yapılandırma Çerçeve Anlaşması Bankalar ve Diğer Finansal Kuruluşlar Tarafından İmzalandı

Finansal Sektöre Olan Borçların Yeniden Yapılandırması Hakkında Kanun Taslağı'na ilişkin olarak hazırladığımız Mevzuat Değişikliği 9 / 2018’de belirtmiş olduğumuz üzere, 19 Eylül 2018 tarihinde bir finansal yeniden yapılandırma çerçeve anlaşmasının (“Çerçeve Anlaşması”) bankalar ve diğer finansal kuruluşlar tarafından (“Finansal Kuruluşlar”) imzalanarak derhal uygulamaya girmiş olduğunu Türkiye Bankalar Birliği ("TBB") duyurdu.

Published on: September 2018
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Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Kanun Taslağı

Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Yönetmelik'in ("Yönetmelik") 15 Ağustos 2018 tarihinde yürürlüğe girmesinden sonra Bankacılık Düzenleme ve Denetleme Kurumu ("BDDK") tarafından Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Kanun Taslağı ("Kanun Taslağı") hazırlandı ve bu taslak, kısa bir süre önce Türkiye Bankalar Birliği ("TBB") tarafından üye bankalarla paylaştı.

Published on: September 2018
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Draft Law on Restructuring of Debts owed to Financial Sector

Following the entry into force of the Regulation on Restructuring of Debts owed to Financial Sector (the “Regulation”) on August 15, 2018, the Draft Law on Restructuring of Debts owed to Financial Sector (the “Draft Law”) has been prepared by the Banking Regulation and Supervision Agency (the “BRSA”) and shared by the Banks Association of Turkey (Türkiye Bankalar Birliği) (the “BAT”) with its members.

Published on: September 2018
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25% Limit Extended to Cover Various Types of Derivative Transactions

The Banking Regulation and Supervision Agency (the “BRSA”) has made an announcement on August 15, 2018 and indicated that; total notional principle amount of banks' currency swaps and other similar products.

Published on: August 2018
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Finansal Sektörün Borçları Yeniden Yapılandırılacak

Finansal piyasalardaki son gelişmelerin ardından, kredi alanların Türk bankalara ve finansal kiralama, faktoring ve finansman şirketlerine (“Finansal Kuruluşlar”) geri ödeme yapma kabiliyetlerine ilişkin risklerin azaltılması amacıyla, Bankacılık Düzenleme ve Denetleme Kurumu (“BDDK”) tarafından, Finansal Sektöre Olan Borçların Yeniden Yapılandırılması Hakkında Yönetmelik

Published on: August 2018
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Debts to Financial Sector will be Restructured

Following the recent developments in the financial markets, the Banking Regulation and Supervision Agency (the “BRSA”) has enacted the Regulation on Restructuring of Debts owed to Financial Sector (published in the Official Gazette dated August 15, 2018 and numbered 30510) (the “Regulation”) with a view to mitigate risks relating to the ability of borrowers to make repayments to Turkish banks

Published on: August 2018
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BRSA Facilitated Acquisition of Shares in Certain Companies for Banks

In order to keep Turkish banks unaffected from the recent developments in the financial markets, the Banking Regulation and Supervision Agency (the “BRSA”) has taken certain measures without loss of time.

Published on: August 2018
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Mandatory Reserve Ratios have recently been revised

As a preventive measure against recessionary trend in the Turkish economy, the Central Bank of the Republic of Turkey (the “CBRT”) has amended the mandatory reserve ratios to be held by Turkish banks and financing companies.

Published on: August 2018
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New Exemptions on FX Loans are introduced by the CBRT

Parallel with the recent amendments in FX borrowing of Turkish residents under the Decree No. 32 on Protection of the Value of Turkish Currency and the Capital Movements Circular, the Central Bank of the Republic of Turkey (the “CBRT”) introduced further exemptions recently in order to meet the real sector’s needs on FX borrowings with the initiation of the Undersecretariat of Treasury.

Published on: June 2018
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