Official statement from Takasbank regarding TPP and TEFAS operations

Official statement from Takasbank regarding TPP and TEFAS operations

Istanbul Settlement and Custody Bank (Takasbank) has released an official statement regarding TPP (Turkish Lira Overnight Reference Rate) and TEFAS (Turkey's Electronic Fund Trading Platform) operations, which have sparked widespread discussions in the Turkish financial market. The institution took this step to clarify various claims circulating in the media in recent days.

The statement emphasized that there is no fact of illegal credit or financial support being provided by Takasbank's financial resources to any person or institution. It was reported that all activities of the bank are carried out within the framework of transparency principles and current legislation.

Addressing specifically the reports regarding the TLY fund, Takasbank noted that claims about capital flows into TEFAS or providing access to the platform without the permission of the CMB (Capital Markets Board) are completely unfounded. The bank's management stated that all processes are executed in full compliance with technical and legal procedures.

The institution's statement notes that Takasbank keeps all operations under strict control to protect the reliability of the markets. Necessary technical explanations were provided regarding the points that caused concern among investors and market participants.

Questions arising from the fund movements recently observed on the TEFAS platform had been a subject of widespread discussion in financial circles. With this statement, Takasbank aims to eliminate the resulting confusion and restore confidence in the market.