Turkish Banks' Short Term Foreign Debt At $100 Billion Level

- Short-term external debt stock of Turkish banking system rose to 100 billion-dollar level at the end of November, increasing by more than 8 percent.

Short-term external debt stock reached to 138.7 billion dollars at the end of November indicating 6.3 percent increase in comparison to the end of 2013, according to the data, released by the Central Bank of Turkey on Friday.

"Specifically, in this period, banks’ short-term external debt stock increased by 8.1 percent to 99.7 billion dollars and other sectors’ short-term external debt stock increased by 3.2 percent to 38.6 billion dollars" the Central Bank said in the statement on Short-Term External Debt Statistics Data.

Short-term FX loans of the banks received from abroad increased by 14.0 percent and FX deposits of non-residents within resident banks increased by 15.4 percent in comparison to the end of 2013, rising to 50.5 billion dollars and 13.3 billion dollars, respectively.

Bank deposits fell by 11.1 percent to 22.6 billion, compared to the end of 2013 while non-residents’ lira deposits rose by 21.0 percent to 13.4 billion dollars and trade credits due to imports rose by 1.0 percent to 28.1 billion dollars, over the same period.

From the borrowers side, the short-term debt of public sector, which wholly composed of public banks, increased by 6.6 percent to 18.8 billion dollars and the short-term debt of private sector increased by 6.7 percent to 119.5 billion dollars.

From the creditors side, short-term debt to monetary institutions increased by 5.0 percent to 88.3 billion dollars and short-term debt to non-monetary institutions increased by 2.9 percent to 46.3 billion dollars. Short-term bond issues rose to 4.2 billion dollars at the end of November, from 1.5 billion dollars at the end of 2013.

As the end of November, the currency breakdown of short-term external debt stock is composed of 52.1 percent dollars, 31.3 percent euro, 14.2 percent lira and 2.4 percent other currencies.

Short-term external debt stock on a remaining maturity basis, calculated based on the external debt maturing within 1 year or less regardless of the original maturity, recorded 173.0 billion dollars at the end of November.