Response from Takasbank to financing allegations

Istanbul Clearing and Custody Bank (Takasbank) made a statement about the allegations regarding Takasbank Money Market (TPP) and Turkey Electronic Fund Purchase and Sale Platform (TEFAS) that have recently been published on social media and some media outlets. The bank rejected allegations that it provided financing from its own resources to certain individuals or organizations and stated that the transactions were carried out within the framework of organized market rules.

"IT IS NOT POSSIBLE TO PROVIDE FINANCING TO CERTAIN PEOPLE"

In the statement made by Takasbank, it was emphasized that TPP is an organized money market operated by the bank, but Takasbank is not involved in this market as a lender or borrower.

It was stated that the transactions were carried out through a system where the members did not see each other, and that it was not possible to direct the resources of any institution to a specific debtor.

In the statement, it was noted that it was not technically and operationally possible for the Unemployment Insurance Fund to provide financing specifically to a certain investment fund through TPP.

240 BILLION LIRA PROCESSING 450 BILLION LIRA GUARANTEE

It was stated in the statement that all borrowings made in the TPP were made in return for collateral, and approximately 84 percent of the total collaterals consisted of bank letters of guarantee.

It was stated that the ratio of shares in total collateral is below 1.5 percent, and shares with unusually high prices are not accepted as collateral.

Takasbank announced that there is 450 billion lira worth of collateral in the market against approximately 240 billion lira transactions. It was emphasized that no default has occurred to date and no institution providing resources has suffered any losses.

RESPONSE TO CLAIMS REGARDING TERA PORTFOLIO FUND

In the statement, the allegations regarding the TEFAS transactions of Tera Portfolio First Hedge Fund (TLY) were also responded to.

It was stated that the fund was opened for trading at TEFAS on July 7, 2025, but was closed to purchasing transactions on August 1, 2025, upon notification that changes were made to its prospectus without the approval of the Capital Markets Board (CMB).

It was reported that after receiving CMB approval, the fund was reopened for purchase transactions on August 12, 2025.

In this context, it was stated that the allegations that the fund was traded in TEFAS without CMB approval for 11 months did not reflect the truth.

It was reported that the administrative fine imposed by the CMB on the founder of the fund was due to an unapproved change made in the prospectus in 2025.

LEGAL ACTION WARNING FROM TAKASBANK

Takasbank stated that the markets continued their normal functioning and announced that all kinds of support was provided to the investigations carried out by the authorized institutions.

The bank stated that it reserves its legal rights against individuals and organizations that knowingly continue to spread untrue information.