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Last minute: BRSA President Mehmet Ali Akben said: “If all three banks meet their obligations, the transaction ban may be lifted, but the investigation will continue. We will continue to resist attempts at manipulation.”
President of the Bank Regulation and Supervision Agency (BRSA) Mehmet Ali AkbenHe made further statements regarding banks BNP Paribas, Citibank and UBS, which were in manipulative attacks to depreciate TL. “We will continue resolutely to resist attempts at manipulation,” Akben said.
The holders of the statements of the BRSA president, Akben, are the following:
“If three banks meet their obligations, the transaction ban may be lifted, but the investigation will continue. We have taken steps in EU rules to avoid financial stability. The intended recipient of the regulation is manipulative bank transactions. Our goal is news and do not block analytical comments.
When the outbreak conditions improve, the applications will be restored. Our focus to fulfill the essential functions of banks will continue. ”
What happened?
The banks in question took manipulative attacks on TL and quickly attempted to receive a large amount of foreign currency with the TL that they did not have, so that the TL would lose value. However, these financial institutions, which were unable to meet their TL obligations to Turkish banks for the currency they purchased, fell into default despite the Central Bank’s EFT system extending the closing time.
BRSA subsequently banned currency transactions with a tranche of TL as they failed to meet their TL obligations to banks BNP Paribas, Citibank and UBS, which were involved in manipulative attacks to depreciate TL.
What is the default value?
Non-compliance is when a person does not perform the act that is unlawfully owed to him. In other words, if a creditor or a debtor party does not fulfill his debt or obligation on time and properly.
