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Takasbank said claims circulating on social media and in some media outlets about transactions on the Takasbank Money Market (TPP) and the Electronic Fund Trading Platform (TEFAS) do not reflect the truth. The bank stressed that it provides no financing from its own resources.

The institution also addressed trading in the Tera Portföy Birinci Serbest Fund (TLY) on TEFAS, rejecting assertions that the fund traded for 11 months without approval from the Capital Markets Board (SPK).

How the money market operates

Takasbank said the TPP is an organized money market it operates and that the bank does not take part as a lender or a borrower. Transactions are carried out among members through a system in which the parties do not see each other, and no institution's funds can be directed to a specific borrower, according to the statement.

Collateral and default record

All borrowing in the TPP is collateralized, with bank letters of guarantee making up about 84% of collateral. Shares account for less than 1.5% of total collateral, and shares whose prices rise abnormally are not accepted as collateral.

The market holds 450 billion lira in collateral against roughly 240 billion lira in transactions, Takasbank said, adding that no default has occurred so far and no institution providing funds has suffered a loss. The Unemployment Insurance Fund cannot technically or operationally finance a particular investment fund through the TPP, according to the statement.

Timeline of the TLY fund

The Tera Portföy Birinci Serbest Fund (TLY) opened for trading on TEFAS on July 7, 2025, but buy orders were closed on August 1, 2025 after it was reported that a prospectus amendment had been made without SPK approval.

The fund reopened for purchases on August 12, 2025 once the SPK approval was obtained. Takasbank said the claim that the fund traded on TEFAS without SPK approval for 11 months is untrue, and that the administrative fine imposed by the SPK on the fund's founder related to the unapproved prospectus change in 2025.

Markets and legal action

Takasbank said markets continue to operate normally and that it is providing full support to reviews being conducted by the relevant authorities. The bank also reserved its legal rights against those who knowingly continue to spread false information.

Key takeaways

• Takasbank says it provides no financing from its own resources and is neither a lender nor a borrower in the TPP
• Roughly 240 billion lira of money market transactions are backed by 450 billion lira in collateral
• Shares account for less than 1.5% of TPP collateral; about 84% consists of bank letters of guarantee
• Takasbank rejects claims that the TLY fund traded on TEFAS for 11 months without SPK approval