In the statement made by the Banks Association of Turkey by e-mail, it was stated that the restructuring limits for small debts to the financial sector were increased from 25 million TRY to 100 million TRY within the scope of the Financial Restructuring Framework.
· The maturity, grace period and interest rate parameters have been updated to provide alternative options for restructuring.
· Changes are subject to the approval of the competition board.
In other words; Debts under TRY 100 million will be defined as minor debt and will be subject to the relevant structuring rules. Maturity, grace period and interest parameters will be determined according to the feasibility and applied accordingly. According to the revised July 2021 Framework Agreement;
Maturity and grace period:
· Maximum 60 months in case of a principal and interest-free period of up to 12 months,
· Maximum maturity of 84 months in case of a maximum of 24 months with only interest payment,
· In addition to principal and interest-free terms of up to a maximum of 6 months, a maximum of 72 months can be given for maturities up to 18 months with only interest payments.
Interest rate:
· The interest rate can be fixed or variable according to the customer’s preference.
· In case of fixed interest, the rate determined on the basis of current conditions and customers will be taken into account. If a maturity exceeding 36 months is given, the interest rate will be applied as a variable.
· Variable interest rate;
o TLREF+1 for futures up to 2 years
o TLREF+2 for futures up to 2-5 years
o TLREF+3 for futures over 5 years
o TLREF will be updated every 3 months.
o Formulation: TLREF Ratio to be Used in the Related Interest Payment Period (%) = ((BIST TLREF Index t1 / BIST TLREF Index t0) –1)/g× 36500 (t1: Loan Disbursement Date, t2: Calculation Period Start Date, g: t1 and t0 number of days difference)
Kaynak: Tera Yatırım
Hibya Haber Ajansı
Kaynak: Hibya Haber Ajansı
