On Mar. 9, TUR GVT issued regulation on principles and procedures.
TUR GVT issued regulation amending the regulation on principles and procedures regarding the follow-up and collection of savings deposit insurance fund receivables.
Follows TUR GVT Jul. 2022 issued regulation on TUR TMSF organization, see #144253.
Regulation Overview
The regulation was decreed by the TUR TMSF President and made numerous changes to wording, many of which were minor in nature, involving various changes of the text.
All of the changes as made, related to Regulation on the Organization of the Savings Deposit Insurance Fund, which was put into effect with the Presidential Decision dated 22/7/2022 and numbered 5822, published in Official Gazette 31901 of Jul. 23, 2022.
Additional paragraphs have been added to areas of the text to add additional clarity.
Affects receivables within scope of reference made by Article 50/A of Law 6361 to the relevant articles of Law 5411 and receivables formed in scope of duties and powers.
Covers follow-up and collection of receivables followed up in the scope of Article 50/A of Law 6361 to relevant articles of Law 5411 and receivables formed within the scope of duties and authorities within the scope of the Temporary Article 9 of the same Law.
Examples of many changes are amendment of Ministry of Finance to the Ministry of Treasury and Finance, and Board to the Banking Regulation and Supervision Board.
Other changes include the repeal of previous text, like the phrase and restriction to leave abroad that was part of the second paragraph of Article 44 of the regulation.
Effectiveness
Terms of the new regulation came into force on its publication, as from Mar. 9, 2023.
Dec. 2023 Insured Amounts for 2024
On Dec. 14, 2023, TUR GVT published decision 2023/473 of the Savings Deposit Insurance Fund Board of Dec. 7, 2023 re the amount of funds' subject to insurance.
Considering the revaluation rate announced (#112937) the amount of deposits and participation funds subject to insurance of TL 400k are determined as TL 650k.
Decision is effective from the beginning of the calendar year 2024, i.e. Jan. 1, 2024.
Document dated Dec. 14, 2023, was added on May 16, 2024 due to editorial backfill.
Dec. 2024 Insured Amounts for 2025
On Dec. 7, 2024, TUR GVT published decision 2024/512 of Dec. 5, 2024 of the Savings Deposit Insurance Fund Board regarding the amount of funds subject to insurance.
Due to the reevaluation rate announced, that amount is increased to TL 950,00.
Decision is effective from the beginning of the calendar year 2025, on Jan. 1, 2025.
Regulators
TUR GVT; TUR TMSF
Entity Types
Bank; BS; CNSM; Ins
Reference
OG 32745, 12/7/2024; Dec 2024/512, 12/5/2024; OG 32399, 12/14/2023; Dec 2023/473, 12/7/2024; OG 32127, 3/9/2023; OG 31901, 7/23/2022; Law 6361; Law 5411
