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The assets of the fund shall not be pledged or collateralized, with
the exception of loans, derivatives, or other similar transactions con-
cluded on behalf of the fund, providing that such provisions are made
in the name of the fund, and a specific provision is included in the
internal regulations.
Asset finance fund’s portfolio may include;
• Receivables of the banks and finance companies arising from
consumer loans and commercial mortgage loans,
• Receivables arising from financial lease agreements in accor-
dance with Law no. 6361,
• Receivables arising from the sale of real estate owned by the
Housing Development Administration of Turkey,
• Documented or secured commercial receivables arising from
invoiced sales to their customers by joint stock companies that
provide service and produce goods (with the exception of finan-
cial institutions),
• Deposit for a term shorter than three months, participation
account, reverse repossession, money market funds, short-term
borrowing instrument funds, and Takasbank money market
transactions with the intention to invest the monies realized
from the assets of the fund’s portfolio,
• Assets that exceed the total amount of obligations of the fund
may be transferred to the reserve accounts created in accor-
dance with the ratio, or amount specified in the service contract.
Such assets are transferred to the reserve accounts,
• Other assets approved by the Capital Markets Board, with the
exception of capital markets instruments.
Housing finance fund’s portfolio may include;
• Receivables of the banks and finance companies secured by a
mortgage registered to the relevant registry arising from the
housing finance set forth in paragraph 1 of art. 57 of the CML,
• Receivables arising from the housing finance agreements with-
in the scope of Law no. 6361, provided that they are concluded
for housing finance purposes set forth in art. 57 of the CML,
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