Kerim Rota, one of Turkey’s best Treasurers, commented on the Central Bank’s latest decisions regarding banks on Twitter. Kerim Rota said, “I haven’t seen any sanctions against banks that say, “Let atomic physics go down in the ground,” and say, “I won’t give credit then.”
Here are Kerim Rota’s comments on the Central Bank’s latest decision:
The message of the CBRT’s decisions to the banks;
1) I lowered the so-called interest rate, but raise the consumer loan interest rates, whose interest rate has exceeded 40% even now.
2) If you are still stupid enough to give a consumer loan, you should buy as much treasury bonds as the loan you give and keep it with me.
3) You can give loans to companies, but the interest will be within the limits that I will determine. If you give a loan with an interest rate above 23%, you have to buy 20% of the loan, and if you give more than 29%, you have to buy 90% of the treasury bonds and keep them with me.
As long as the companies can use a loan of around 20% when there is a 140% PPI, they can raise their goods by 100% and make a profit.
I have yet to see any sanction for banks that say, “Let atomic physics go down in the ground,” and say, “I won’t give credit then”. He may come soon.