May 7, 2020

A New Regulation by BRSA on Manipulation and Misleading Transactions in Financial Markets

The manipulative trades and misleading transactions of banks in financial markets in Turkey have been defined under Article 76/A of the Banking Law No. 5411 (“Law”), which is recently included to the Law, as part of the amendments made in the Law through Law No. 7222, amending the Banking Law and Other Codes, published in the Official Gazette dated 25 February 2020 and No. 31050 (“Law No. 7222”).
May 6, 2020

New Restriction by BRSA on Turkish Banks’ TRY Transactions with Foreign Financial Institutions

In response to the slowdown of economic growth in Turkey due to Covid-19 Outbreak, Banking Regulation and Supervision Agency of Turkey (“BRSA”) introduced new restrictions on Turkish banks’ TRY transactions with foreign financial institutions (“FFI”) so that BRSA aims to enable the use of TRY resources efficiently in Turkey. This way, financing needs of public and private real sector in Turkey will be covered more efficiently which will also have a positive impact on the recent employment and production challenges of the same sector.
April 30, 2020

BDDK’dan Bankalara Yeni Kredi Düzenlemeleri

Bankacılık Düzenleme ve Denetleme Kurumu (“BDDK”) 16 Nisan 2020 tarihinde 8999 sayılı bir karar alarak, 5411 sayılı Bankacılık Kanunu’nun 93’üncü maddelerine dayanarak, bankaların, Türkiye Cumhuriyeti Merkezi Yönetimi’nden, yabancı para cinsinden olan alacaklarına ilişkin olarak, 23 Ekim 2015 tarihli ve 29511 sayılı Resmi Gazete’de yayınlanan Bankaların Sermaye Yeterliliğinin Ölçülmesine ve Değerlendirilmesine İlişkin Yönetmelik kapsamında tanımlanan Standart Yaklaşım metodu ile krediye esas tutar hesaplamasında risk ağırlığının %0 olarak uygulanabilmesine karar vermiştir.
April 23, 2020

CMB published the Draft Communiqué on Debt Instrument Holders Board

In accordance with Article 31/A of Capital Markets Law No. 6362, Capital Markets Board of Turkey (“CMB”) published the Draft Communiqué on Debt Instrument Holders Board No. III-31/A.1 dated 22 April 2020 (“Draft Communiqué”). CMB expects all the related authorities, entities and parties to share their comments and suggestions regarding the Draft Communiqué with CMB until 15 May 2020.
April 21, 2020

7244 sayılı Kanun ile Covid-19 salgınının ekonomik ve sosyal hayata olan negatif etkilerinin azaltılması amacı ile alınan tedbirler genişletildi

17 Nisan 2020 tarihinde, 31102 sayılı Resmi Gazete’de, Covid-19 Salgınının Ekonomik ve Sosyal Hayata Etkilerinin Azaltılması Hakkında Kanun ile Bazı Kanunlarda Değişiklik Yapılmasına dair 7244 sayılı Kanun (“Kanun”) yayınlanmıştır.
April 17, 2020

BRSA and CMB imposed restrictions on derivative transactions carried out with foreign parties in response to Covid-19 Outbreak

Due to Covid-19 Outbreak, as a measure to protect the financial stability, Banking Regulation and Supervision Agency (“BRSA”) and Capital Markets Board (“CMB”) imposed certain restrictions on derivative transactions to be carried out with foreign counterparties.
April 17, 2020

Covid-19 Salgını Nedeni ile BDDK ve SPK yurtdışı ile yapılan türev işlemleri kısıtladı

Covid-19 salgını nedeniyle, finansal istikrarın korunması amacıyla Bankacılık Düzenleme ve Denetleme Kurumu (“BDDK”) ve Sermaye Piyasası Kurulu (“SPK”) arka arkaya basın açıklamaları yaparak yurtdışı yerleşikler ile yapılacak türev işlemlere ilişkin kısıtlamalar getirmiştir.
April 7, 2020

Crowdfunding Models in Turkey

Capital Markets Board of Turkey ("CMB"), authorized with the Capital Markets Law No. 6362 (the "Law"), legally accepted crowdfunding in Turkey in December 2017 by making amendments on the Law and following that, issued a communiqué concerning equity-based crowdfunding model that took effect on 3 October 2019, Communiqué on Equity Based Crowdfunding No. III-35/A.1 (the "Communiqué").
March 25, 2020

CMB Adopts Measures In Response to Covid-19 Outbreak

Due to the negative impact of Covid-19 on human health and physical working environment, CMB adopts regulatory and operational relief measures in response to Covid-19 Outbreak as announced with CMB Bulletin No. 2020/19 dated 23 March 2020.
March 3, 2020

Recent Changes to Capital Markets Law No. 6362 through Law No. 7222

Significant amendments are made in Capital Markets Law of Turkey No. 6362 (the “CML”) through Law No. 7222, amending the Banking Law and Other Codes, published in the Official Gazette dated 25 February 2020 and No. 31050 (“Law No. 7222”). Below, you may find an outline of these changes within the scope of the referred Law.