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Turkish Cbank Acts to Boost Use of Lira Assets as Collateral

ISTANBUL, June 6 (Reuters) - The Turkish central bank has taken steps to increase the weight of lira-denominated assets in the collateral system as part of its currency strategy and steps in this direction will continue to be taken, bankers said on Monday.

From June 24, the central bank will require that a minimum of 45% of collateral in swap transactions will come from the domestic government bonds basket, with the discount rate for CPI-indexed securities used as collateral raised to 30% from 15%, the bankers said.

The central bank declined to comment on the moves.

Reporting by Nevzat Devranoglu and Ebru Tuncay; Writing by Daren Butler; Editing by Jonathan Spicer

Source: Reuters

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