Metin Munir
So far the new Banking Regulation and Supervisory Agency (BRSA) has cautiously protected foreign creditors by choosing the vastly more costly route of taking over banks rather than liquidating them.
But, as officials privately warn, this will not go on forever. Once the Agency becomes established and the new ground rules are understood by everyone, banks will either sink or swim – with all their liabilities outside private saving accounts.
According to BRSA officials: “There may be other weak banks in the system but we hope to keep them outside the agency.
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