The exit process from FX-Protected Deposit accounts is complete and the balance has been reduced to zero

Minister of Treasury and Finance Mehmet Şimşek announced that the exit process from FX-Protected Deposit accounts has been successfully completed and the balance has been completely reduced to zero.

Exit Process Completed

Minister of Treasury and Finance Mehmet Şimşek reported that another critical target of the economic program has been successfully achieved. Şimşek announced that the exit process from FX-Protected Deposit accounts has been completed and the balance has been reduced to zero.

Minister Şimşek shared his evaluation on the matter with the public via his social media account, drawing attention to the significance of this development in terms of economic policies.

BRSA Data and Balance

The Banking Regulation and Supervision Agency also shared the most up-to-date data regarding FX-Protected Deposit accounts with the public. According to the statement, the balance of the accounts decreased within the past week and fell to zero.

Thus, with no balance remaining in the FX-Protected Deposit accounts, it has become official that the exit process has successfully ended as targeted.

Future Period Policies

Minister Mehmet Şimşek emphasized that the FX-Protected Deposit practice had constituted a conditional liability in the past. Şimşek stated that steps strengthening macro-financial stability will be continued with determination.

Statements made by officials indicated that economic policies that increase confidence in the Turkish lira and support market stability will continue.