The Savings Deposit Insurance Fund (TMSF/SDIF) is a public legal entity with an administrative and financial autonomy. The SDIF is composed of The Fund Board and the President’s Office. The Chairman of the Fund acts as the Fund President as well. The Fund Board is the decision-making body of the SDIF, while the President’s Office executes the Fund Board’s decisions and fulfills the duties of the SDIF. The SDIF is independent while fulfilling its duties.
The SDIF perform its duties along with the powers dedicated to it, according to Banking Law No 5411, the Law No 6758 on amending and accepting some regulations made by Decree Law within the scope of SoE and other relevant legislation.
The SDIF’s functions could be summed up under four categories as deposit insurance, bank resolution, recovery, and trusteeship operations performed within the scope of SoE. In this context, SDIF is responsible for,
In terms of Deposit Insurance Operations SDIF, determines the policies, makes regulations, measures and manages the risks related to deposit insurance. SDIF also monitors the sector and member bank related risks, and collects the revenues determined by the Article 130 of Banking Law No 5411.
In terms of Bank Resolution Operations SDIF, performs activities for the resolution of the banks that are transferred to the SDIF and the banks with a revoked operating license. Additionally, establishing the early warning system and developing prompt and cost-effective resolution methods could also be listed among SDIF’s Bank Resolution Operations.
performs activities to recover the maximum amount of its resources that has been transferred to the Banks that are transferred to the SDIF and to the banks with a revoked operating license.
In addition to main operations performed by the SDIF, tasks and powers of trusteeship, which were possessed by companies assigned/to be assigned to a trustee due to their attachment, relation or contact with the FETÖ/PDY terrorist organizations, have been added on to the tasks of SDIF in accordance with the SoE process started after the coup attempt occurred on July 15, 2016.