Financial stability is being ensured through coordinated regulations in the economy.

Important Economic Regulations: New Steps from BDDK

The Banking Regulation and Supervision Agency (BDDK) recently published a comprehensive press release on "Restructuring of Personal Credit Cards and Consumer Loans, Determination of Limits for Credit Cards and Overdraft Accounts, Changes in Credit Value Rate for Housing Loans."

The aim of these new regulations is to efficiently utilize financial resources to support lower income groups, enhance the effectiveness of the credit system, and strengthen financial stability.

Change in Credit Value Rate for Housing Loans

Another significant change has occurred in housing loans. BDDK removed the distinction regarding the ratio of the loan amount to the value of the property taken as collateral; thus, the conditions applicable to both first-time and second-hand housing have been simplified.

Additionally, C energy class housing built in 2010 and later has been included in the credit value rate application. A and B group properties will benefit from the most advantageous loan rates.

Loan Usage Rates According to Property Values

Credit value rates for properties with a value of up to 5 million TL will be up to 90% for A and B energy class properties, while C class properties can go up to 80%. Other properties are limited to 70%.

For properties valued between 5 million TL and 10 million TL, A and B class loans will be at 70%, C class at 60%, and other properties at 50%.

This regulation encourages the purchase of more energy-efficient and earthquake-resistant properties and aims to support consumers purchasing homes for the first time.

Restructuring of Personal Credit Cards and Consumer Loans

With another regulation announced by BDDK, restructuring opportunities are being offered to individual borrowers. Those who have not fully or partially paid their credit card debts will be able to restructure under specific conditions.

This regulation aims to alleviate the debt burden of individuals facing payment difficulties and support financial stability.

Regulation on Credit Card Limits

BDDK also announced new regulations to align credit card limits with income and prevent excessive borrowing. The total credit card limit will be at most twice the monthly average income for the first year.

It was reported that holders of high credit card limits may have their limits partially reduced based on the expenditures made in the last year.

New Regulations on Overdraft Accounts

New limits have also been established for overdraft accounts, allowing individual customers to open an overdraft account up to twice their average income over the last three months. However, limits allocated for educational expenses will be exempt from this restriction.

Conclusion: Steps Taken to Ensure Economic Balance

BDDK's regulations are seen as an important step aimed at ensuring financial stability in society and improving the financial situations of individuals in lower income groups. The effects of these regulations will play a key role in maintaining economic balance.