TCMB - Annual Report 2014

CBRT Activities 2014

General Information

1.1. Governing Bodies

1.2. CBRT 2014-2018 Strategic Plan

1.3. Staff

Activities and Major Developments

2.1. Price Stability, Financial Stability and Monetary Policy

2.2. Operational Framework of the Monetary Policy

2.3. Financial Stability Developments

2.4. Financial Infrastructure

2.5. Banknotes in Circulation

2.6. Foreign Exchange Reserve and Risk Management

2.7. European Union Harmonization Activities

2.8. Communication Policy and Activities

2.9. International Cooperation and Organizations

2.10. Research and Development Activities

2.11. Training Activities

2.12. Culture, Art and Sports

2.13. Social Responsibility Activities, Donations and Financial Support

Financial Statements

3.1. Balance Sheet as of
31 December 2014

3.2. Balance Sheets as of 31 December 2014 and 2013

3.3. Profit and Loss Statements for 2014 and 2013

3.4. Explanations

3.5. Explanations on Operating Expenses

3.6. Audit at the CBRT and Audit Reports

Contact Details

2.2.5. The Maximum Interest Rates for Credit Cards

A new method was developed to determine the maximum interest rates for credit cards aiming at protecting both financial stability as well as the consumer and to enhance transparency and predictability. This method was made public in the CBRT Communiqué No. 2014/5 on Maximum Interest Rates To Be Applied To Credit Card Transactions published in the Official Gazette No: 29153 dated 22 October 2014. In this framework, it is aimed to prevent frequent changes in maximum rates on credit cards; to restrict the use of credit cards by consumers in periods of low interest rates and to direct them towards consumer loans; to prevent the increase in past-due loans in the financial system in periods of high interest rates by alleviating the interest rate burden on consumers.