9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

BDDK introduces regulations on loans granted by banks

The Banking Regulation and Supervision Agency (BDDK) regulated the procedures and principles regarding loans granted by banks. An account status document will be required in loan transactions and the loan limit was increased from TL 2 million to TL 5 million.

BDDK introduces regulations on loans granted by banks

"Regulation on Banks' Credit Transactions," prepared by the Banking Regulation and Supervision Agency (BDDK) it was published in the Official Gazette and entered into force. The Regulation includes various regulations aiming to tighten the supervision of banks' credit processes.

Account status documents are now mandatory for loans over TRY 5 million

Pursuant to the Regulation, it has become mandatory for banks to obtain account status certificates from customers for cash and non-cash loans over TL 5 million. Previously, this practice was valid for loan requests not exceeding TL 2 million. Except for consumer loans, for loans above the threshold amount of TL 5 million, account status documents will continue to be obtained within 9 months following the accounting period each year.

Credit rating is mandatory

It has become mandatory for banks to obtain credit ratings in order to measure the risks they will be exposed to due to their loans. The credit rating given by an authorized institution for loans within the scope to be determined by the BDDK will be taken at the loan allocation stage.

Collateral ratios to be determined by the BDDK

According to the Regulation, loan collateral ratios for housing collateralized loans and vehicle loans will be determined by the BDDK in consultation with the Presidency of Strategy and Budget and the Ministry of Treasury and Finance. In determining the value of second-hand passenger cars, the casco value will be taken as the basis.

Loan authorization arrangement

With the new regulation, those authorized to extend credit will not be able to take part in the evaluation and decision-making stages regarding credit transactions to which they, their spouses and children under their custody or other real and legal persons constituting a risk group are parties. However, this rule will not apply to the bank's general manager or members of the board of directors who are included in the bank's risk group only due to their positions.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

South Korea's crude steel production decreased by 18.3% in October

Friday, November 22, 2024

SSAB and Saint-Gobain's slag reprocessing plant in Raahe progresses

Friday, November 22, 2024

US Steel Producer partners with Primetals Technologies for EAF Ultimate

Friday, November 22, 2024

Imported scrap prices on the decline, demand stagnant!

Friday, November 22, 2024

Roadmap for India’s steel sector: Demand, imports and future plans

Friday, November 22, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now