INFO CENTER
24.11.2024
Amendment to the CBRT’s Foreign Exchange Position Report Obligation for Legal Entities
The Central Bank of the Republic of Turkey (CBRT) has sent a notification to the general directorates of banks on 12.04.2023, with the subject “Summary Foreign Exchange Position Report” under reference E-TCMB.80372040-010.07.01-731.
In the mentioned letter, following the feedback received regarding the “Summary Foreign Exchange Position Reporting Obligation,” changes have been made to the scope and duration of the reporting as outlined below, in order to facilitate the transition process:
- Companies located in the earthquake disaster areas where a state of emergency has been declared have been exempt from the reporting obligation during the continuation of the state of emergency.
- The minimum threshold for determining the companies subject to the reporting obligation, based on the total credit balance (both cash and non-cash) from all domestic banks, has been raised from 5 million TL to 10 million TL.
- The notification deadline for the monthly summary foreign exchange position report has been changed from “the first 10 working days of the following month” to “the last day of the following month.” Additionally:
- a) The reporting obligation for companies with a total cash and non-cash credit balance between 10 million TL and 50 million TL from all domestic banks has been postponed to start with the report for January 2024.
- b) For companies with a total cash and non-cash credit balance of 50 million TL and above from all domestic banks, the reporting deadlines for March and April 2023 have been extended, with the latest notification deadline being June 30, 2023.
The relevant letter is attached to this Circular.
You can access the frequently asked questions and the summary position report data form here.
Sincerely,
BİLGENER
