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ARTICLE · 03 SEPTEMBER 2020

Turkish Competion Authority Granted Individual Exemption In Banking Sector

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Upon the application of Banks Association of Turkey (BAT), Turkish Competition Authority (TCA) examined to the BAT's "Recommendation Draft on the Use of TLREF Interest Rate in ...

TurkeyAntitrust/Competition Law
Metin Pektaş
Metin Pektaş
Derviş Boran Beysülen
Derviş Boran Beysülen
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Upon the application of Banks Association of Turkey (BAT), Turkish Competition Authority (TCA) examined to the BAT's "Recommendation Draft on the Use of TLREF Interest Rate in Restructuring Agreements with Commercial Borrowers" (Recommended Decision) and the "Draft Decision on the Use of TLREF Interest Rate in Restructured Structures within the Scope of Financial Restructuring Framework Agreement (Large Scale Application-LSA)" (Restructuring Decision) in terms of individual exemption rules1. BAT as a legal entity subject to competition law enforcement, is an association of all deposit banks and development and investment banks. In accordance with the provisions of article 79 of the Banking Law No. 5411 all banks have to be a member of BAT. BAT was established in order to defend the rights and interests of banks, carry out studies in order to develop the banking system, to improve the banking profession, to increase the competitiveness of the banking sector, and to

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