CMB and Central Bank Measures Following Market Liquidity Crunch
Following market fluctuations and liquidity shortages, the CMB liquidated 130 funds belonging to 7 portfolio management companies, while additional measures were taken under the coordination of the CBRT and the ministry.
Following unusual fluctuations in the markets, heavy fund outflows, and the default of certain funds, comprehensive steps were taken and operations were launched under the coordination of the Ministry of Treasury and Finance, the CBRT, and the CMB.
Coordinated Measures from Institutions
With the deepening of the liquidity crunch in the markets, the Financial Stability Committee of the Ministry of Treasury and Finance convened, and relevant public institutions took simultaneous action.
Liquidation Decisions by the CMB
By a radical decision made by the Capital Markets Board, a total of 130 investment funds belonging to seven portfolio management companies were closed to trading on TEFAS to be liquidated.
Central Bank's Liquidity Steps
The Central Bank of the Republic of Turkey increased repo auction amounts, updated banks' borrowing limits, and lowered collateral discount rates in order to alleviate the tightness in the market.
Legal Processes and Detentions
Within the scope of ongoing judicial investigations, criminal complaints were filed against certain executives, trading bans were imposed on various individuals, and operations were carried out.