MARKET STRUCTURE · REGULATORY · TURKEY
Halkbank reaches deferred prosecution agreement with U.S. Justice Department
Change
On March 9, 2026, Turkish state-run lender Halkbank and the U.S. Department of Justice reached a deferred prosecution agreement.
Why it matters
A federal judge filed a court notice recording that Halkbank and the U.S. Department of Justice reached a deferred prosecution agreement and provided no further details. The agreement applies to a long-running U.S. criminal case that began with charges filed in 2019. In October 2025, the U.S. Supreme Court let stand a federal appeals court decision that had allowed the prosecution to proceed. The court filing did not disclose the agreement's specific terms, obligations, or timelines.
Implications
- • Immediate criminal trial proceedings are paused while the deferred prosecution agreement governs the case.
- • Publicly available visibility into the agreement's obligations, compliance requirements, and enforcement mechanisms is limited due to the absence of disclosed terms.
Who is affected
- • Halkbank legal and compliance teams
- • U.S. Department of Justice prosecutors
- • U.S. federal courts handling the case
- • Turkish government officials and advisers
Source
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