“My guess is you’re going to get people cutting estimates, if we get bad volatility here on the capital markets front,†said Charles Peabody, a bank analyst at Portales Partners. “It looks like we’re starting to get that.â€
Turkey entered a full-blown financial meltdown on Friday, after President Recep Tayyip Erdogan declared his refusal to bow to U.S. political demands and market pressures.
Banks will hold an emergency meeting with regulators on Saturday, with dollar shortages sweeping across Istanbul. The Banking Regulation and Supervision Agency, known as BDDK, will meet with bankers, according to people with knowledge of the matter. Regulators told industry executives to study the impact of interest- and exchange-rate
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