The Central Bank of the Republic of Türkiye (CBRT) has terminated the opening and renewal of FX-protected deposit accounts (KKM), excluding YUVAM accounts, with effect from 23 August 2025. Existing KKM accounts opened before that date will remain in place until maturity, after which the relevant Communiqués will be repealed. With KKM account openings and renewals halted, the CBRT has also abolished the overall target for the transition of KKM balances to TRY and for renewals. It has revised its rules on reserve requirement remuneration and commission practices to reflect the change.
Central Bank of Türkiye 2025-08-23
Central Bank of the Republic of Türkiye ends new and renewed FX-protected deposit accounts from 23 August 2025
The Central Bank of the Republic of Türkiye has ceased the opening and renewal of FX-protected deposit accounts, excluding YUVAM accounts, effective 23 August 2025. Existing accounts will remain until maturity, after which related Communiqués will be repealed. The CBRT has also abolished the target for transitioning KKM balances to TRY and revised reserve requirement remuneration and commission practices accordingly.