New Measures from CMB at Borsa Istanbul: Flexibility in Credit Transactions and Liquidation Decision for Funds of 7 Companies
Following the developments in Borsa Istanbul markets, the Capital Markets Board provided temporary flexibility in the equity ratio of credit transactions and decided to liquidate 130 investment funds of 7 portfolio management companies.
Quick Look
Following the developments in the markets, the Capital Markets Board (CMB) announced that 130 investment funds belonging to 7 portfolio management companies will be liquidated, while reducing the equity ratio in credit transactions to 20 percent.
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Why It Matters
As a result of the developments in Borsa Istanbul, the Capital Markets Board introduced new measures to maintain market stability.
The Capital Markets Board (CMB) took new measures following the developments in Borsa Istanbul AŞ markets.
The Board stated that the decisions were taken within the scope of the relevant provisions of the Capital Markets Law No. 6362.
EQUITY RATIO CAN BE REDUCED BY UP TO 20 PERCENT IN CREDIT TRANSACTIONS
CMB introduced a temporary flexibility regarding the equity protection ratio, which is normally applied as a minimum of 35 percent in credit capital market instrument transactions.
Accordingly, intermediary institutions will be able to flexibly apply the equity ratio to a minimum of 20 percent, to the extent that it is in line with their own risk policies and taking into account customer demands as much as possible.
The application in question will be valid until further notice, until the end of the session on October 2, 2026.
FUNDS OF 7 PORTFOLIO COMPANIES WILL BE LIQUIDATED
CMB also decided to close all investment funds founded by Tera Portföy Yönetimi AŞ, Pusula Portföy Yönetimi AŞ, Hedef Portföy Yönetimi AŞ, Atlas Portföy Yönetimi AŞ, A1 Portföy Yönetimi AŞ, Pardus Portföy Yönetimi AŞ and Bulls Portföy Yönetimi AŞ and whose participation shares are traded on the Turkey Electronic Fund Buying and Selling Platform (TEFAS) for both buying and selling in TEFAS. gave.
In the Board's decision, it was also decided that the determined investment funds would be liquidated by the method determined by the CMB.
A total of 130 funds of 7 companies will be liquidated.
WHAT DO THE DECISIONS MEAN?
While the decisions taken by the CMB temporarily allow investors to make transactions with lower equity in their credit transactions, it means that the purchase and sale transactions of the 130 investment funds traded in TEFAS are suspended. With the liquidation of the funds, it is envisaged that these funds will be closed by the method determined by the CMB and the assets in the liquidation process will be transferred to the shareholders within the framework of the relevant legislation.
What to Watch
AI outlook — possibilities, not facts
A total of 130 funds of 7 portfolio companies will be liquidated.
Very likely · Within months
Open Questions
- How will the repayment schedule for investors of the funds to be liquidated work?
- What developments led to these decisions?
