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Bank Asya activities suspended; Turkish banking sector calm after failed coup

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Bank Asya activities suspended; Turkish banking sector calm after failed coup

The Turkish Savings DepositInsurance Fund, or TMSF, said July 18 that the activities of weretemporarily suspended after authorities failedto receive bids during the tender for the bank's sale, Reuters reported thesame day.

Turkish authorities havepreviously said a failure to find a suitable buyer for Bank Asya would resultin the Islamic bank's liquidation. Bank Asya was founded by followers ofU.S.-based cleric Fethullah Gülen, whom the government is blaming for thefailed coup attemptthat began July 15.  

Separately, Turkish bankingassociation TBB head Hüseyin Aydin said banks in the country do not seem tocurrently need measures announced by the inresponse to the failed coup, Reuters said in another July 18 report.The country's central bank said it would supply unlimited liquidity to lendersif the need arose in the aftermath of the coup attempt.

Aydin, who is also generalmanager of TC Ziraat BankasiAS, also reportedly said Turkish banks have not seen "unusualdevelopments" in the sector, or a "serious rise" in the cost offoreign lending.