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BRSA abolished the obligation of banks to calculate their active ratio

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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