Official Statement from Takasbank Regarding Unfounded Social Media Claims

Istanbul Settlement and Custody Bank (Takasbank) announced that recent claims made in social media and media outlets regarding the Takasbank Money Market and TEFAS do not reflect the truth.

Operation of the Money Market

It was stated that the Takasbank Money Market is an organized structure and the bank does not take part as a party.

It was noted that transactions are conducted through a system where the parties do not see each other.

Collateral Structure and Guarantee

It was reported that all borrowings in the market are collateralized and bank letters of guarantee constitute the majority of the collaterals.

It was conveyed that there is 450 billion liras worth of collateral against approximately 240 billion liras of transactions.

TEFAS and Fund Operations

Evaluations were made regarding the transactions of Tera Portfolio First Free Fund on TEFAS.

It was emphasized that claims that the fund operated without approval for 11 months do not reflect the truth.

Legal Rights and Investigations

It was stated that the markets continue their normal operations and support is provided for the investigations of authorized institutions.

It was noted that legal rights are reserved against those who spread false information.