Takasbank Public Collateral Management Platform Goes Live in Collaboration with Public Procurement Authority

As known, pursuant to the "Regulation on Amending the Electronic Procurement Implementation Regulation" published in the Official Gazette dated 26/01/2021 and numbered 31376 and the “Communiqué Amending the General Communiqué (Transmitting E-letters of Guarantee to Accounting Units, Sequence No: 63) of the Directorate General of Accounting and Financial Control (Sequence No: 69)” published in the Official Gazette dated 27/08/2021 and numbered 31581, and as a result of the studies carried out with the Public Procurement Agency as well, it has become available for Takasbank, which operates as a central clearinghouse pursuant to the Capital Markets Law numbered 6362, to electronically realize the transfer, custody, registration as revenue and return processes of the letters of guarantee submitted as tender security to the contracting authorities within the scope of Public Procurement Law No. 4734.

In this regard, having completed all technical and infrastructure developments and testing processes, as of 1st of September 2021, electronic letters of guarantee submitted as tender security issued within the scope of Public Procurement Law No. 4734 will also be accepted on behalf of contracting authorities in electronic environment and fully automated through “Takasbank Public Collateral Management Platform” which operates integrated with Electronic Public Procurement Platform (EKAP) operated by Public Procurement Authority and Electronic Letter of Guarantee Platform (ETMP) operated by Turkish Credit Bureau.

By means of “Takasbank Public Collateral Management Platform”, acceptance and reporting processes as well as submitting requests on return, registration as revenue and extension of the validity period of the letters of guarantee submitted as tender security will be available in digital environment.

With this project, digitalization of processes carried out with the physical letter of guarantee will be paved and submission and monitoring processes of the letter of guarantee, which is one of the most common and traditional products of the banking sector, will be executed completely in digital environment thereby eliminating operational difficulties and costs.

Our Bank continues its efforts to expand its experience in collateral and risk management services in money and capital markets to include public institutions and organizations intensively with all its stakeholders, especially the Republic of Turkey Ministry of Treasury and Finance and the Public Procurement Authority. Hereby, we hope that “Takasbank Public Collateral Management Platform” that we have put into practice will bring benefit for our country's economy.

Respectfully submitted for public information.