Turkey will hold two-day talks starting Thursday, chaired by Finance Minister
Simsek, to discuss payments to investors in 131 investment funds now in
liquidation after a wave of redemption failures triggered market turmoil.
Officials will cover technical details of the liquidation process and investor
payouts; meetings are expected to run through Friday. Participants include the
Capital Markets Board, Banking Regulation and Supervision Agency (BRSA), the
Central Bank of the Republic of Turkey (CBRT) and Istanbul Settlement and
Custody Bank (Takasbank). The talks are the authorities' latest step to contain
a fund-industry crisis that erupted last week when some asset managers failed to
meet redemption requests, prompting a sell-off in Turkish equities.
