Turkish Authorities Monitor Local Banks' TL Liquidity Transactions Abroad - Bloomberg

It has been reported that authorities in Turkey are examining repo-like transactions that allow local banks to access cheaper TL funding abroad and may inflate official data regarding foreign inflows. According to sources, the Central Bank of the Republic of Turkey (CBRT) has requested more information from several banks about transactions known as "sell/buy back" in recent weeks. Following the review, some banks have reportedly paused such transactions.