Statement on Markets and Funds from Treasury and Finance Minister Şimşek

Treasury and Finance Minister Mehmet Şimşek evaluated recent market developments, stating that there is no systemic or widespread risk and that issues are limited to a certain number of funds. Şimşek announced that the Capital Markets Board (CMB) has initiated the liquidation process for 131 funds belonging to 7 portfolio management companies.

Recent Market Developments and Risk Status

Treasury and Finance Minister Mehmet Şimşek emphasized that the events in the markets are not widespread and occurred in a limited number of funds. Stating that there is no systemic risk, Şimşek noted that if the risk perception were high, CDS rates would have risen, but on the contrary, there has been a decline, albeit a limited one.

Funds Liquidated by the CMB

It was reported that necessary steps have been taken for the limited number of funds where market-disrupting actions were detected. In this context, 131 funds managed by 7 portfolio management companies were placed into the liquidation process by the CMB, and a comprehensive roadmap was determined for the process.

Protection of Investor Savings

It was announced that the liquidation process to be carried out by the CMB will be conducted according to established principles and that investors' savings will be protected. It was stated that these interventions will not be in a framework that would put pressure on the stock market, and the rights of qualified investors will be safeguarded.

Financial System and Additional Measures

Stating that there is no general problem in the non-bank financial system, Minister Şimşek noted that this area is being closely monitored due to its rapid growth. It was also announced that Plans A, B, and C are ready for potential scenarios, and the Central Bank will provide the necessary liquidity.