Statement from Takasbank regarding TPP and TEFAS transactions

In the statement made by Takasbank, the allegations made recently on social media and some media outlets regarding TPP transactions and the Turkish Electronic Fund Purchase and Sale Platform (TEFAS) were clarified.

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

In the statement, it was stated that the transactions in the market are carried out between the members through a system where the parties do not see each other, and that the resources of any institution cannot be directed to a specific debtor.

In the statement, it was noted that all borrowings in the TPP were secured and approximately 84 percent of the guarantees consisted of bank letters of guarantee.

In the statement, it was stated that the ratio of shares in total collateral was below 1.5 percent, and that shares whose prices increased unusually were not accepted as collateral.

In the statement, it was stated that there was a guarantee of 450 billion lira in TPP against the transaction of approximately 240 billion lira, and it was emphasized that there has been no default in the market to date and no institution providing resources has suffered any losses.

It was also stated that it was not technically and operationally possible for the Unemployment Insurance Fund to specifically finance a certain investment fund through TPP.

In the statement, Takasbank also made evaluations regarding the transactions of Tera Portföy First Hedge Fund (TLY) in TEFAS.

It was noted that the fund was opened for trading at TEFAS on July 7, 2025, but was closed to purchasing transactions on August 1, 2025, after it was reported that the prospectus change was made without the approval of the Capital Markets Board (CMB).

It was stated that after CMB approval was received, the fund was reopened for purchase transactions on August 12, 2025, and it was stated that the allegations that the fund was traded in TEFAS for 11 months without CMB approval do not reflect the truth.

In the statement, it was stated that the administrative fine imposed by the CMB on the founder of the fund was related to the unapproved change made in the prospectus in 2025.

Takasbank stated that the markets continue their normal functioning and that all support is provided to the investigations carried out by the authorized institutions, and that its legal rights are reserved against those who knowingly continue to spread untrue information.