Statement from Treasury and Finance Minister Şimşek on Measures for a Limited Number of Funds
Minister Mehmet Şimşek announced that strong measures have been taken and a liquidation process has begun to prevent risks in certain funds from becoming generalized.
Treasury and Finance Minister Mehmet Şimşek announced that necessary steps have been taken to prevent risks observed in a limited number of funds from spreading to the market, and that the problematic area has been quarantined and a liquidation process initiated.
Strong Measures Put into Play
Treasury and Finance Minister Mehmet Şimşek evaluated the economic agenda during a television program he attended. Minister Şimşek stated that strong measures were put into play in order to prevent risks in a limited number of funds from spreading to the entire market.
Problematic Area Quarantined
Emphasizing that the process will function healthily and that current measures are sufficient at this stage, Şimşek stated that what is necessary has been done, the problematic area has been quarantined, and the liquidation process has been initiated.
Emphasis on Market Confidence
Stating that confidence in the market continues, Minister Şimşek noted that there are no problems in 90 percent of the market and that the process is kept under control with the steps taken.
CMB Determined a Roadmap
Conveying that the Capital Markets Board has put forward a comprehensive roadmap on the issue, Şimşek recorded that steps have been taken for 131 out of a total of 2,038 funds and that issues have been detected in these.
Liquidation Process Will Not Affect the Stock Market
Stating that the liquidation process will not put pressure on the stock market, Treasury and Finance Minister Mehmet Şimşek announced that the ongoing efforts are planned by observing market balances.