Interbank Card Center (BKM) Collateral Custody Service
As of 30/01/2020, our bank will provide collateral custody service for the Domestic Clearing and Settlement (YTH) System currently operated by the Interbank Card Center (BKM) within the scope of the guarantee management mechanism they have established.
The said service; in case of YTH system participants inability to pay their debts in the YTH System for any reason; the collaterals they will request from the system participants within the scope of the collateral management service they provide to their members regarding the collateral mechanism that will be established in order to complete the clearing and settlement on the same day without any problem covers the processes stated below;
1. Collateral Custody,
2. Collateral Deposit and Withdraw Transactions,
3. Redemption of Guarantees / Coupon Payment,
4. Collateral Valuation,
5. Turning the Collaterals to Cash and transferring them to the YTH System Accounts (upon the request of BKM in case of default),
6. Accrual of Collaterals,
Rules and principles regarding the transactions carried out by Takasbank within the scope of Collateral Custody Service is determined by İstanbul Takas ve Saklama Bankası A.Ş. The YTH System Procedure and the relevant service is provided to the members under the relevant procedure.