Company: BBVXF
Filing Date: 2025-10-30
Form Type: 6-K
Source: 0001628280-25-047437
Chunk: 71

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-10-30
Form: 6-K
Chunk 71
---
20% to 22% for general deposits/participation funds. Additionally, an extra 25% reserve requirement was introduced for foreign currency deposits/participation funds from repo transactions with domestic residents, with maturities up to 1 year.

Pursuant to the Communiqué on Deposit and Loan Interest Rates and Participation Account Profit and Loss Participation Rate of June 21, 2025, the following amendments on deposits were established: (i) new reserve requirement ratios were set for accounts with variable interest rates linked to the consumer price index (CPI), producer price index (PPI), and Turkish lira Overnight Reference Rate (“

#### TLREF
”) Index, set at 10%; (ii) for accounts with maturities up to 6 months benefiting from CBRT exchange rate/price protection, the ratio increased from 33% to 40%, while demand deposits/participation funds in foreign banks belonging to parent companies were set at 0%; and (iii) variable interest rates may be applied to Turkish lira deposits with maturities longer than 1 month (previously, 3 months or longer) and to foreign currency deposits with maturities longer than 6 months.

Additionally, on January 20, 2025, the CBRT discontinued the opening and renewal of foreign currency protected deposit and participation accounts, converted from foreign currency and gold, with maturities of 6 months and 12 months. This decision aligns with prior measures to phase out foreign currency-linked financial instruments.

On July 20, 2024, the Communiqué on Amendments to the Communiqué on the Deposit and Participation Scheme for Non-Resident Turkish Citizens was adopted, setting forth certain regulation applicable to time deposit and participation accounts (“

#### YUVAM
”) that are the result of converting foreign currency deposit accounts and participation funds of certain non-resident persons that were denominated in foreign currency into Turkish lira deposits or accounts, and which provide additional returns according to the procedures determined by the CBRT. YUVAM accounts are a subset of foreign currency-protected deposit (“

#### KKM
”) accounts, specifically tailored for non-resident individuals and legal entities, offering both exchange rate protection and an additional yield. As per the latest amendments, Turkish authorities are to gradually phase out the broader KKM scheme, specifically by excluding domestic legal entities from its scope for new openings and renewals, while maintaining YUVAM accounts as a distinct, regulated mechanism to attract foreign currency from non-resident individuals and legal entities.

<div