A decision has been made for the restructuring of loans and credit card debts. According to this decision, debts can be restructured for up to 60 months. At the same time, the minimum payment limits for credit cards have also changed. Here are the details of the regulation concerning debts… The Central Bank of the Republic of Turkey (CBRT) and the Banking Regulation and Supervision Agency (BRSA) have taken coordinated steps regarding individual credit cards. The Regulation Amending the Regulation on Maximum Interest Rates to be Applied in Credit Card Transactions of the CBRT was published in the Official Gazette. The Board decision of the BRSA on the subject was also published on its website. Individual credit card debts can be restructured for up to 60 months. Those who cannot pay the minimum amount of the period debt will be able to install their existing credit card debt balances for up to 60 months. The installment amount for each month will be added to the minimum payment amount of the relevant month. The remaining balance other than the amount structured in the credit card can still be used. For example, if 50,000 liras of a debt of 100,000 liras is restructured, cardholders can use the remaining 50,000 lira slice. The credit card limit at the relevant bank cannot be increased until at least half of the restructured debt is paid. The interest rate to be used for restructuring individual credit cards will be 3.11 percent. For example, if a debt of 50,000 liras is divided into 12 installments, the total repayment will reach 64,000 liras. The monthly installment amount will be 5,340 liras. (This calculation does not take into account whether banks will charge fees. Additionally, banks may apply lower interest rates through various campaigns.) Overdue debts in need of credit with more than 30 days of principal and interest payment can be restructured. In this case, debts can be restructured for up to 60 months without additional credit. The borrower will need to apply for restructuring within 1 year. The restructuring interest rate for loans will also be 3.11 percent. Changes have been made to the minimum payment amounts on credit cards. The limit amount on the minimum payment rate, which is 20% of the period debt, has been raised from 25,000 liras to 50,000 liras. For credit cards of 50,000 liras and below, the minimum payment rate is 20% of the period debt. For period debts of 50,000 liras and above, the minimum payment amount will be applied as 40%. The CBRT has differentiated the maximum contractual interest rates applied to individual credit cards based on the credit card period debt according to a reference rate. The rates to be determined within this scope will be announced on October 24 and will enter into force on November 1. If the reference rate remains the same, the maximum contractual interest rates will be 3.50% for credit cards with a period debt of less than 25,000 liras, 4.25% for credit cards between 25,000-150,000 liras, and 4.75% for credit cards with over 150,000 liras. The maximum contractual interest rate for cash withdrawals/usage through credit cards will be maintained at 5%. The Central Bank published an analysis on the decision to restructure loans and credit cards. According to the analysis, current decisions will support the disinflation process. The restructuring decision will ensure that the debts of delinquent individuals are affected by tightening policies to the least extent possible.