What forms will haircuts on deposits take?

Anyone who’s gone to a bank recently has experienced a very unfamiliar and uncomfortable phenomenon.Banks have curtailed withdrawals, sometimes down to $200 or $300 per week. Many excuses were supplied by senior bankers and officials, but very few have told the unvarnished truth, which is that a large chunk of the deposits have been depleted. The last balance sheet of the central bank shows $112 billion of people’s deposits owed to the banks. Almost $70 billion are in US dollars, with the rest in Lira. The Lira part is not that important, because he can print as much as he likes, especially if the rate is no longer fixed at 1507.5. Even though the central bank has over $30 billion in cash reserves, this cannot offset the $70 billion because he still needs most of those to finance crucial imports like fuel, medicine, and grain, which he wants to stretch out for as long as he can. This means that over half the dollar deposits in the banks are gone, spent on financing the government (through payments of the eurobonds); INSERT INTO articles (articleId, timestamp, date, title, teaser, slug, status, primaryCategory, description, authorId, sourceId, url, lastUpdate, hasImage, contents, summary) VALUES financing imports, and protecting the Lira peg (every time someone converts Lira to dollars to buy something, or go on vacation, or whatever).The good news is that almost all our debt is internal, which means we can solve a major part of our liquidity problems over a weekend, with some accounting experts pouring over an excel spreadsheet.Real dollars in the country are the BDL reserves of circa $30 billion, plus real dollar liquidity at custodial banks on behalf of our local banks (estimated at $3-9 billion); INSERT INTO articles (articleId, timestamp, date,...