Goldman Sachs examines where the 13 billion dollars leaving funds went
It was announced that approximately half of the 13 billion dollars exiting money market funds was directed toward foreign currency and gold deposits.
Goldman Sachs analysts stated that approximately half of the 13 billion dollar outflow from money market funds was directed domestically toward foreign currency and gold deposits. The Fund Coordination Board also met in Beştepe.
Distribution of Fund Outflows
According to a note prepared by Goldman Sachs analysts Clemens Grafe and Başak Edizgil, approximately half of the 13 billion dollar outflow experienced from money market funds this month was directed domestically toward foreign currency and gold deposits.
Two-Week Outflow Amount
According to Central Bank data, a total of 467.7 billion Turkish liras left money market funds within two weeks. This situation highlighted the mobility in the fund market.
Fund Meeting in Beştepe
The Fund Coordination Board convened for the second time in Beştepe under the chairmanship of Vice President Cevdet Yılmaz. The payment schedule and draft law were evaluated during the meeting.
Assessment from S&P
S&P Global Ratings officials announced that the liquidation process of the funds is not expected to create a downward pressure on the country's credit rating.