Central Bank of Turkey: Press Release on Market Developments

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1. No : 2017-01 PRESS RELEASE 10 January 2017 Press Release on Market Developments The Central Bank of the Republic of Turkey (CBRT) closely monitors the excessive volatility in the markets and will take necessary measures against unhealthy price formations that are inconsistent with economic fundamentals. Banks’ borrowing limits at the Interbank Money Market established within the CBRT have been lowered to TL 22 billion to be effective as of 11 January 2017. Moreover, foreign exchange reserve requirement ratios have been reduced by 50 basis points for all maturity brackets. With this revision, an additional liquidity of approximately USD 1.5 billion will be provided to the financial system. Developments in markets are monitored closely and if deemed necessary, additional steps may be taken in order to maintain price stability and financial stability. Contact: For further information, please contact Press Secretary Yücel Yazar. Phone: 0 (312) 507 56 56 Türkiye Cumhuriyet Merkez Bankası (Central Bank of the Republic of Turkey) Head Office Anafartalar Mahallesi İstiklal Caddesi 10 06050 Ulus / Ankara +90 (312) 507 50 00 www.tcmb.gov.tr