Takasbank denies allegations of preferential financing in money market

Takasbank has issued a public statement addressing allegations regarding the Takasbank Money Market (TPP) and the Turkey Electronic Fund Trading Platform (TEFAS). The institution denied claims that it provides financing to specific individuals or organizations using its own resources. Takasbank clarified that it acts as an operator of the organized money market rather than a lender or borrower, and that transactions occur between members through a system where parties remain anonymous to one another.

Regarding market stability, Takasbank reported that approximately 450 billion TL in collateral exists to cover roughly 240 billion TL in transactions. About 84% of this collateral consists of bank letters of guarantee, while equity securities account for less than 1.5% of the total, limited to BIST 30 stocks. The bank emphasized that no defaults have occurred and no institutions have suffered losses.

Additionally, Takasbank addressed claims involving the Unemployment Insurance Fund and the Tera Portföy First Free Fund (TLY). It stated that it is technically impossible for the Unemployment Insurance Fund to specifically finance a particular investment fund through the TPP. Regarding the TLY fund, the bank clarified that while trading was briefly suspended due to pending Capital Markets Board (SPK) approval for a prospectus change, the fund resumed trading once approval was obtained, refuting claims of an extended unauthorized period.