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BDDK Decided on Swap Regulation

BDDK decided on swap regulation. The limitation of 1 percent in swap transactions in TL purchase direction was increased to 10 percent.

BDDK Decided on Swap Regulation
Yazar: Eylem Özer

Yayınlanma: 25 Eylül 2020 14:49

Güncellenme: 5 Kasım 2024 16:38

BDDK Decided on Swap Regulation BDDK decided on swap regulation. The limitation of 1 percent in swap transactions in TL purchase direction was increased to 10 percent. The Banking Regulation and Supervision Agency (BDDK) raised the limits of banks on currency swap, forward, option and other derivative transactions with non-residents in TL purchase or TL at maturity. Following statements on the subject were made by BDDK : '' The said rates will be calculated on a solo and consolidated basis on a daily basis, option transactions will be taken into account with delta equivalent in the calculation, derivative transactions whose value date is later than the transaction date (with forward value) will be taken into account as of the value date in the calculation, It was shared with the public that a decision was made to obtain the written consent of the institution in the event that the transaction would not be carried out and for any reason whatsoever, if the said transactions were intended to be spoiled before the agreed due date or if the term was requested to be extended. '' It was stated that due to the coronavirus (Covid-19) pandemic, the decisions were re-evaluated in a period when uncertainties and risks in global markets increased. In the announcement, the following expressions were used: '' * Regarding the currency swap, forward, option and other derivative transactions that they will carry out in the direction of TL purchases at maturity, the 1% limitation determined as the ratio of the total transaction amounts to the legal equity of the banks recently calculated, to be re-determined as 10%, * Currency swap, forward, option that they will realize in TL sales at maturity and regarding other derivative transactions; must be provided for each calendar day and the limitation determined as the ratio of the total of the said transaction amounts to the legal equity of banks, * 2% instead of 1% for transactions with 7 days to maturity, * 5% instead of 2% for transactions with 30 days to maturity, * 20% instead of 10% for transactions with 1 year to maturity and the value date is calculated from the transaction date in this calculation. derivative transactions that are later (forward value) are calculated as of the value date. to be considered, * It has been decided to continue to apply issues stated in the Decision No. 8989 of 12/04/2020 and issues stated above. ''
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