Financial Stability Committee Convenes Under the Chairmanship of Mehmet Şimşek
Following sharp declines in the markets and fund defaults, the Financial Stability Committee came together under the chairmanship of Treasury and Finance Minister Mehmet Şimşek.
Following recent fluctuations in the markets and financial developments, the Financial Stability Committee met in the morning hours under the chairmanship of Treasury and Finance Minister Mehmet Şimşek.
Details of the Committee Meeting
Following recent developments in the markets, the Financial Stability Committee came together today as of 08:00. Treasury and Finance Minister Mehmet Şimşek is chairing the meeting.
Decline in Borsa Istanbul
The Borsa Istanbul 100 index lost 5.54 percent in value yesterday and closed at 13,122 points. Sharp drops were also observed in bank stocks during this process.
Defaults in Fund Companies
Some fund companies managing sizes worth billions of liras announced defaults yesterday. The companies made statements indicating that sell orders could come into effect approximately 45 days later.
Tera Portföy's Decisions
Tera Portföy made changes to the pricing calculation and investor payment periods in some of the hedge funds it manages. The company management announced that they were under speculative attacks.
Financial Crimes Investigation
Istanbul Financial Crimes Branch Directorate teams conducted examinations at the headquarters of İnfo Yatırım. No official statement has been made yet regarding the scope and details of the operation.
Developments Regarding Detentions
It was reported that Namık Kemal Gökalp, Chairman of the Board of Directors of both İnfo Yatırım and Hedef Holding, was detained in Istanbul. It was learned that Gökalp's home was searched and he was taken to the police station.