Coordinated Intervention by Economic Management Against Severe Sell-Off Wave on Borsa Istanbul
Following sharp declines and a liquidity crunch on Borsa Istanbul, the economic management took a series of measures; funds of seven portfolio management companies were put into liquidation.
Against the severe sell-off wave that began on Borsa Istanbul on September 15, 2026, deepened by global uncertainties and fund-driven liquidity issues, the economic management implemented simultaneous measures. While the Financial Stability Committee, CMB, CBRT, and BRSA announced coordinated decisions, the funds of seven portfolio management companies were liquidated.
Sharp Declines in Markets
The sell-off wave that started on Borsa Istanbul on September 15, 2026 deepened in the following days, with the BIST 100 index dropping down to 13,122.58 points. Outflows from investment funds increased the selling pressure.
External and Internal Factors Triggering the Decline
Geopolitical tensions in the Middle East and the Red Sea, high US bond yields, and energy prices weakened investors' risk appetite. Domestically, liquidity issues experienced in the funds of certain portfolio management companies had an impact.
Liquidation Decisions by the CMB
The Capital Markets Board closed all investment funds founded by seven portfolio management companies and traded on TEFAS to trading and decided to liquidate these funds.
New Ratio in Margin Trading
To balance the volatility in the market, the equity protection ratio in margin trading was reduced from 35 percent to 20 percent. This decision will remain in effect until the end of the session on October 2, 2026.
Steps by the Central Bank and BRSA
While the CBRT increased the funding amount provided through weekly repo auctions, banks' borrowing limits were updated. Meanwhile, the BRSA introduced a capital deduction exemption for banks regarding their own shares acquired through buybacks.
Statement by the Financial Stability Committee
The Financial Stability Committee, which met on September 17, 2026, announced to the public that there is no structural risk in the markets and that the problems encountered are temporary and manageable.