An article published yesterday (Monday) regarding the Capital Markets Board of Turkey publishing a communiqué on covered bonds was incorrect.

The CBR yesterday reported that the Capital Markets Board (CMB) of Turkey published a communiqué bringing together the hitherto separate classes of asset and mortgage backed covered bonds. The move was reported by a law firm and is understood to have led to some confusion, and The CBR has since learnt that the communiqué was about securitisation and that the anticipated merger of Turkey’s two covered bond legal frameworks is yet to occur, though expected imminently.

For previous coverage of the CMB’s plans see here.