Takasbank: TPP has 450 billion TL in collateral against 240 billion TL in transactions, with zero defaults to date

Takasbank responded to claims regarding TPP and TEFAS transactions that have circulated in recent days on social media and some media outlets. According to the institution's statement, approximately 240 billion lira in transactions in Turkey's Money Market (TPP) are backed by 450 billion lira in collateral; since the market was established, not a single default has occurred and no liquidity-providing institution has suffered losses.

Takasbank emphasized that it operates the TPP but does not participate in the market as either a lender or borrower. It was noted that transactions are conducted through an anonymous system between members where counterparties cannot see each other's identities, and therefore no institution's resources can be directed to a specific borrower.

In details on collateral structure, it was stated that 84 percent of total collateral consists of bank guarantee letters, while the share of equities remains below 1.5 percent.