Capital Ratio Deduction and Fund Liquidation Decision in Credit Transactions from CMB
The Capital Markets Board temporarily reduced the minimum equity protection rate for credit transactions to 20 percent and decided to liquidate the investment funds of some portfolio management companies.
Quick Look
With its bulletin dated September 17, 2026, CMB temporarily reduced the minimum equity protection rate in margin capital market instrument transactions to 20 percent until the end of the session on October 2, 2026 and decided to liquidate the funds of seven portfolio management companies.
AI-generated summary
Why It Matters
In the CMB bulletin, the minimum equity protection rate for credit transactions was temporarily reduced and the funds of some portfolio companies were put into liquidation process.
According to the decision in the CMB's Bulletin No. 2026/60 dated September 17, 2026, the minimum equity protection rate that must be applied in credit capital market instrument transactions has been temporarily reduced to 20 percent.
Within the scope of the Communiqué, the minimum equity protection rate, which is normally 35 percent, can be applied as 20 percent until the end of the session on October 2, 2026, provided that the intermediary institutions comply with their own risk policies and customer demands are observed as much as possible. The regulation will be valid until further notice.
CMB also decided, within the scope of Article 96 of the Capital Markets Law No. 6362, to close the investment funds established by Tera Portföy, Pusula Portföy, Hedef Portföy, Atlas Portföy, A1 Portföy, Pardus Portföy and Bulls Portföy and traded in TEFAS to purchase and sale through TEFAS.
The decision also ruled that the investment funds in question be liquidated by the method to be determined by the Board.
Relevant funds are listed as follows:
What to Watch
AI outlook — possibilities, not facts
Relevant funds will be liquidated by the method determined by the Board.
Very likely · Within weeks
Open Questions
- What is the full list of relevant funds to be liquidated?
- What will be the liquidation method of the funds?
