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Minister Şimşek gave a moderate message to the market for consultation

Mehmet Şimşek, the Minister of Treasury and Finance, came together with the general managers of the bank and gave hope to the bank managers.

Minister Şimşek gave a moderate message to the market for consultation

It is stated that Şimşek conveyed the message that a consultative approach would be adopted, focusing on solutions through regulations rather than being confrontational with the market. Bankers were convinced that Şimşek had full political support, although it was noted that he did not discuss any technical details. Bank executives will meet with the Central Bank Governor, Hafize Gaye Erkan, on Monday at 14:00 to discuss the technical details.

Banks highlighted the mismatch between their assets and liabilities, indicating that the market flow was being disrupted. They emphasized that collecting deposits at a rate of 40% while lending at a rate of 15% was not sustainable.

Meanwhile, Treasury and Finance Minister Şimşek did not delve into any technical details but stated that they would provide the necessary liquidity through the team to be established and the program to be created.

Mehmet Şimşek emphasized that the steps to be taken would be logical and appropriate, producing solutions in a way that does not hinder growth. He stated that they would work together with market participants rather than being at odds with them.

Şimşek also mentioned that the economic administration would work in coordination and that there was full political support for the implemented policies.

Bankers found Şimşek's approach very positive and expressed their support for him in terms of timing to reverse the practices that caused bottlenecks in the system.

Bank executives left the meeting optimistic about resolving the issues and emphasized the importance of the messages regarding market-friendly practices and consensus on regulations.

After the meeting with Mehmet Şimşek, the Turkish Banking Association will meet with Hafize Gaye Erkan, who was recently appointed as the Governor of the Central Bank of the Republic of Turkey, on Monday.

The meeting will take place at 14:00.

It is stated that bank executives will reiterate their demands during the meeting, discussing various steps to be taken, including transformation goals, interest rate limitations, and macro-prudential measures for the credit market.

Thus, Erkan will meet with bank executives for the first time since her appointment as the Governor of the Central Bank of the Republic of Turkey.

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