Turkey's central bank overhauls reserve‑requirement rules for foreign‑currency deposits

The Central Bank of the Republic of Turkey (TCMB) issued a new regulation, published in the Official Gazette on 1 July 2026, that revises the reserve‑requirement (zorunlu karşılık) framework. The amendment eliminates the additional Turkish‑lira reserve that had been applied to foreign‑currency deposit and participation funds at a rate of 2.5 % since 2023.

Under the new rates, the reserve requirement for demand and up‑to‑one‑month foreign‑currency deposits rises from 30 % to 32 %, while longer‑term foreign‑currency funds increase from 26 % to 28 %. Other categories are adjusted as follows: foreign‑investor (müstakri) funds are set at 25 %; domestic repo‑funds with a one‑year maturity also at 25 %; foreign banks' deposits and participation funds are charged 21 % for up to one year, 10 % for up to two years, 8 % for up to three years, 3 % for up to five years, and 0 % for periods longer than five years. The TCMB announced that the new reserve positions will be established on 17 July 2026.