According to the communiqué published in the Official Gazette, the discount interest rate to be applied in rediscount transactions against bills with a maximum of 3 months to maturity has been increased to 35.75 percent per annum. The interest rate to be applied in advance transactions was set at 36.75 percent per annum.
With the amendment made by the Central Bank on September 28, the discount interest rate to be applied in rediscount transactions against bills with a maximum of 3 months to maturity became 30.75 percent per annum. The interest rate to be applied in advance transactions was determined as 31.75 percent per annum.
Rediscount refers to the re-discounting of securities that have been discounted, in other words, securities that have changed hands for a price (discounting), in exchange for a price (rediscounting).
In order to meet the temporary liquidity needs of the banking sector, the Central Bank can accept commercial bills and documents to be issued by banks for rediscount. In Turkiye, all conditions and rules for rediscounting transactions are determined by the Central Bank.
The interest rate applied by the Central Bank for these transactions is called "rediscount interest rate". called "rediscount". The Central Bank can also make advances against bills that it can accept for rediscount.
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