Initialising a pl/sql record type

Use a function to act as a kind of "constructor" function (look at function f()):

DECLARE
  TYPE ty_emp IS RECORD(
    id INTEGER,
    name VARCHAR(30),
    deptcode VARCHAR(10)
    );
  TYPE ty_tbl_emp IS TABLE OF ty_emp;
  tbl_emp ty_tbl_emp;
  FUNCTION f (             -- <==============
    id INTEGER,
    name VARCHAR,
    deptcode VARCHAR) RETURN ty_emp IS
  e ty_emp;
  BEGIN
    e.id := id;
    e.name := name;
    e.deptcode := deptcode;
    RETURN e;
  END f;
BEGIN

  tbl_emp := ty_tbl_emp(
    f(1, 'Johnson', 'SALES'), 
    f(2, 'Peterson', 'ADMIN'));
  Dbms_Output.put_line(tbl_emp(2).name);
END;  

No, there is not. You have to assign each value explicitly. Documentation reference here.

Record types are really designed for holding rows from SELECT statements.

    ....
    type location_record_type is record (
          street_address       varchar2(40),
         postal_code          varchar2(12),
          city                 varchar2(30),
         state_province       varchar2(25),
         country_id           char(2) not null := 'US'
        );
    type location_record_nt is table of location_record_type;
    loc_recs location_record_nt;
begin
    select street_name
           , pcode
           , city
           , region
           , country_code
    bulk collect into loc_recs
    from t69
    where ....

Obviously for cases where the query isn't a SELECT * FROM a single table (because in that scenario we can use %ROWTYPE instead.