Turkish central bank: Will continue to monitor markets, take all necessary measures

Central Bank of the Republic of Turkey, Turkey’s central bank, came out with a statement on Monday, noting that the local banks will be provided all the liquidity they need, in light of the Lira’s free-fall.

Key Points:

Collateral deposit limits for lira transactions raised.

More than one repo auction may be conducted per day now.

Banks are to be able to borrow FX deposits in 1M maturity.

The central bank is to resume intermediary function at FX deposit market.

Banks' FX deposit limits may be raised.

Central bank to continue to monitor markets, take all necessary measures.