BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of Turkey Central Bank of Turkey The Central Bank of the Republic of Turkey (CBRT) (Turkish: Türkiye Cumhuriyet Merkez Bankası - 'TCMB') is the central bank of Turkey and is founded as a joint stock company with the exclusive right to issue banknotes in Turkey.  The Bank had, originally, a privilege of issuing banknotes for a period of 30 years. In 1955, this privilege was extended until 1999. Finally it was prolonged indefinitely in 1994.   The primary objective of the Bank shall be to achieve and maintain price stability. The Bank shall determine on its own discretion the monetary policy that it shall implement and the monetary policy instruments that it is going to use in order to achieve and maintain price stability. Fundamental duties of the Bank are as follows:  •  to carry out open market operations;  •  to protect the value of Turkish Lira and to establish the exchange rate policy;  •  to determine the reserve requirements and liquidity requirement;  •  to manage the gold and FX reserves of the country;  •  to regulate the volume and circulation of Turkish Lira; and  •  to ensure stability in the financial system and monitor the financial markets. Fundamental powers of the Bank shall be:  •  the exclusive right to issue banknotes in Turkey;  •  the right to determine of the inflation target together and implementation of monetary policy;  •  the privilege to grant advance to the Savings Deposits Insurance Fund;  •  the role of the lender of last resort; and  •  the power to request necessary information from financial institutions. In achieving the functions above, the Central Bank commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff. Central Bank of Turkey HQ Address: İstiklal Cad 10 Ulus 06100 Ankara Turkey Tel: +90 312 507 5000 Fax: +90 312 507 5640 Website: www.tcmb.gov.tr Swift Code: TCMBTR2A Currency: Turkish lira Banking Hours: Monday - Friday : 9.00am - 5.00pm   The Central Bank is entrusted with the task of organizing banks in upgrading their management and to ensure their financial soundness. Circulars and regulations are being issued from time to time by the Central Bank to achieve this objective. The Central Bank is also continuously studying various ways and means to make the Turkey a noted regional financial center.   List of banks governed by the Central Bank of Turkey State-owned deposit banks (3) » Türkiye Cumhuriyeti Ziraat Bankası » Türkiye Halk Bankası » Türkiye Vakıflar Bankası Privately owned deposit banks (11) » Adabank » Akbank » Alternatif Bank » Anadolubank » Şekerbank » Tekstilbank » Turkish Bank » Türk Ekonomi Bankası » Türkiye Garanti Bankası » Türkiye İş Bankası » Yapı ve Kredi Bankası Foreign deposit banks founded in Turkey (11) » Arap Türk Bankası » Citibank » Denizbank » Deutsche Bank » Eurobank Tekfen » Finansbank » Fortis Bank » HSBC Bank » ING Bank » Millenium Bank » Turkland Bank Foreign deposit banks having branches in Turkey (6) » Bank Mellat » Habib Bank » JP Morgan Chase Bank » Société Générale » Royal Bank of Scotland » WestLB
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