Turkey's Government Wants Banks To Hand Over Their Post-Coup Analysis

It's only natural for investors to seek out expert opinion and analysis following an unprecedented political event - such as the failed military coup in Turkey. According to a report by Bloomberg, Turkey's government is demanding banks hand over these exact research reports.

Bloomberg, citing "three people familiar with the matter," stated Turkey's banking regulators made contact with at least three international investment banks to formally ask they hand over any macroeconomic analysis reports that were sent to clients.

The head of Turkey's banking regulator BDDK, Mehmet Ali Akben, publicly said on Thursday that the government disapproves of banks that are "publishing reports that would turn expectations and the atmosphere negative."

Related Link: Confusion, Fear, Relief: My Emotional Night In Istanbul During The Turkey Coup Attempt

The Turkish government even called out S&P Global Ratings for its recent downgrade of Turkey's credit rating to BB from BB+ with a negative outlook. Cemil Ertem, a chief adviser to Turkey's President Recep Taayip Erdogan, said S&P's downgrade is an "extension" of the coup attempt.

Meanwhile, Moody's Investor's Service said it's reviewing the country's Baa3 rating which is already the lowest investment grade. Analysts at major banks including Barclays and JPMorgan believe billions of dollars worth of outflows could occur if Moody's slashes its rating to below investment grade.