ANKARA, March 23 (Xinhua) -- Turkey's banking and capital markets watchdogs said late Saturday they had launched investigations into JP Morgan and other banks over "misleading and manipulative actions" after the lira plunged sharply Friday.
In a written statement, the Banking Regulation and Supervision Agency (BDDK) said it received complaints that a report JP Morgan published on Friday hurt the reputation of Turkish banks and led to volatility in financial markets.
"An investigation has been initiated due to the misleading and manipulative content of the reports by JP Morgan", it said.
"The necessary administrative and judicial processes" would be carried out, added the statement.
Meanwhile, Turkey's Capital Markets Board launched its own probe into JP Morgan over its "speculative actions" on shares traded in Istanbul's BIST stock exchange, "particularly in banking shares."
The BIST's main index closed down 3.45 percent on Friday, while the lira fell more than 5 percent against the U.S. dollar, its worst performance since last summer.
