Turkish Lira Reference Interest Rate “TLREF” is produced in line with international standards under Borsa Istanbul
London Inter-Bank Offered Rate (LIBOR), which is one of the most widely used reference interest rates in the world, will be discontinued by the end of 2021. Meanwhile, Borsa Istanbul announced on 29 August 2019 that TLREF, the Turkish Lira Reference Interest Rate, was established in accordance with international standards. Calculation and publication of the Turkish Lira Overnight Reference Interest Rate had started in 17 June 2019 by Borsa Istanbul.
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