Turkiye TCMB FX Assets Update

The Turkish Central Bank (TCMB) saw its FX assets rise by US$3bn (ex-gold) to US$164bn. Liquidity metrics improved alongside a lack of dollarisation pressure.

Key Takeaways

• 1.TCMB FX assets increased by US$3bn (excluding gold valuation) to US$164bn as of June 3.
• 2.FX liquidity rose by US$3bn to US$39bn compared to the previous week.

Table of Contents

• Breakdown of the TCMB's reserves
• TCMB's gross FX assets and FX liquidity
• Breakdown of TCMB's FX assets into liquid FX assets, gold, SDR, non-SDR FX assets, sell-side swaps
• Breakdown of the TCMB's FX liabilities into liabilities to nonresidents, domestic banks and the non-bank sector
• Valuation-adjusted cumulative changes in FX deposits and in gold deposits
• Stock of TRY-settled FX futures/forwards
• Banks' off-balance-sheet FX position
• Cumulative foreign inflows into equity and domestic debt
• Weighted average TRY deposit rates, policy rate and deviation of TRY deposit rates from the policy rate
• Weighted average consumer loan rates, policy rate and deviation of consumer loan rates from the policy rate
• Weighted average commercial loan rates, policy rate and deviation of commercial loan rates from the policy rate
• Total TCMB funding via traditional quotation, buy-side swap funding, and sterilisation by sell-side gold swaps
• 3-month moving average annualised monthly TRY and FX loan growth
• Disclosure Appendix