Deposit account

Declines in inflation over the next months will further boost the rise in the share of Turkish Lira deposits in total, according to a post on the Turkish Central Bank's blog.

The share of lira deposits in total deposits grew from 48.4 percent to 51.8 percent in July-August, the blog post by researchers and economists working at the bank stated.

The retirement process for debtors with arrears of 20,000 to 30,000 euros is stuck in the probing of deposits, as based on estimates, it will take around two months before the Single Social Security Entity (EFKA) and the banks are in a position to check the average bank deposits of the year, before the submission of the retirement application.

There will be no sudden exit from the FX-protected deposit account scheme, Vice President Cevdet Yılmaz has said.

The scheme was a necessity when it was first introduced and has accomplished its task, Yılmaz told a group of journalists, noting that the amount of money in the FX-protected accounts has been declining fast.

Hardly anyone will be surprised that a number of bank charges will be raised again. Some of them have already been a fact for several days, for others it is coming from the beginning of September, and for others - in October. Physical contact with bank employees related to cash operations is expected to become more and more expensive.

The Central Bank has ended targeting conversion from foreign currency deposits to FX-protected Turkish Lira deposits (KKM) in a bid to support the lira time deposits.

Americans are finally reaping some benefit from keeping their money in the bank.

Banks are paying up for savers' deposits in a much bigger way than they have in more than a decade, based on recent earnings reports from the nation's biggest banks.

This is a good period for decisions on savings, as the yields time deposits offer today range between 1%-2%, depending on the duration and amount. They have incorporated the rise in interest rates and therefore no more aggressive moves are expected in the near future.

The administrations of the four major Greek banks are ready to press the button for the abolition of interest on all deposit demand products, savings and current accounts.

The Turkish Central Bank raised reserve requirement ratios for foreign currency and precious metal deposit accounts on Nov. 8.

Announcing the move in the Official Gazette, the bank increased the ratio by 200 basis points for all such accounts.

Ljubljana – NLB, the largest bank in Slovenia, will phase in fees for combined deposits by physical persons of over EUR 250,000 as of April. The monthly fee will amount to 0.04% and will be first charged in May, the bank said in a press release on Tuesday.