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bringing the overall interventions estimate for since the beginning of 2019 to $104bn.
The Turkish central bank shorted a total of $632mn worth of USD futures at Borsa Istanbul’s derivates market from July 20 to July 31, @e507 observed (chart below).
8.0 Financial & capital markets 8.1 Bank sector overview
8.1.1 Loans
“Turkey's average weekly ‘flow’ of new lending was TRY 16.7 bn per week in July, down from a weekly pace of TRY 23.1 bn in Q2. In the big picture, however, overall credit flow is still very elevated vs previous credit booms in 2017 and 2019, a risk factor for the Lira,” Brooks wrote on July 31 in a tweet.
Commercial loans growth slowed as of August 14 but consumer loans growth remained high.
38 TURKEY Country Report September 2020 www.intellinews.com
