Decision made not to pay interest on amounts below 5,000 TL

In an announcement made on Takasbank's website, it was stated that due to the number of accounts subject to interest in VIOP exceeding 100,000, a decision was made not to pay interest on amounts below 5,000 TL in order to improve the performance of both members and Takasbank's interest distribution processes.

The statement noted that cash Turkish Lira transaction collaterals established by members within the scope of central counterparty services are invested by Takasbank under the best possible conditions, taking into account credit risk and liquidity conditions. It further stated, "In this context, the revised 'Procedure for Central Counterparty Service to be Conducted by Istanbul Settlement and Custody Bank Inc. in Borsa Istanbul Inc. Futures and Options Market and Clearing Principles Regarding This Service' has been published under the 'Procedures' heading in the 'Legislation' section of our Bank's website, and a comparison table regarding the changes made to the relevant procedure is included in the Annex. The updated Procedure will enter into force on January 2, 2024."

News Source: 12punto