Financial Fragility and Turk Banking Sectors Financial Fragility Index for the Period

Finansal Kırılganlık ve Türk Bankacılık Sektörü İçin 2002-2011 Dönemi Finansal Kırılganlık EndeksiFinansal kırılganlık, banka kırılganlığını arttıran makro-mikro ekonomik ve bankaya özgü koşulları içeren birçok faktörden oluşmaktadır. Bu faktörler özellikle banka karlılığını olumsuz etkileyerek bankacılık sektörünün temerrüde düşme olasılığını yükselterek Ş nansal kırılganlığı ve banka kırılganlığını arttırmaktadırlar. Bu çalışma güçlü ekonomiye geçiş programı sonrasında Türk bankacılık sektörünün kırılganlık yapısını analiz etmeyi amaçlamaktadır. Finansal kırılganlık endeksi zaman serilerinin kullanımına uygunluk sağlaması nedeniyle bu amaca yönelik olarak önemli bir gösterge niteliği taşımaktadır. Endeks hesaplamasında Kibritçioğlu (2002) ve Singh (2010) çalışmaları referans alınmaktadır. Finansal kırılganlığın hesaplanmasında bankacılık sektörünün mevduat ve kredi yapısı yabancı para cinsinden yükümlülükler, Ş nansal kaldıraç oranı ve CDS (kredi temerrüt takas) primleri alınmıştır. Bu değişkenlere bağlı olarak beş (5) farklı indeks hesaplaması yapılmıştır. Kaldıraç oranı ve CDS primlerinin Ş nansal kırılganlık endeksinde kullanılması, bu çalışmayı referans çalışmalardan ayırmaktadır. Elde edilen tüm bulgular neticesinde, CDS primleri ve döviz kuru baskısının Türkiye'de banka kırılganlığını artıran nedenler olduğu ortaya çıkmaktadır.

Financial Fragility and Turk Banking Sectors Financial Fragility Index for the Period

It has been mentioned that there are many factors, either macroeconomic or microeconomic, and including the bank-speciŞ c conditions which increase the vulnerability of Ş nancial sector or more speciŞ cally the fragility of banking sector. These factors increase the Ş nancial fragility and the fragility of banks via adversely affecting proŞ tability of banks and/or raising the possibility of decrease in default of the banking sector. The aim of this study is to analyze the structure of fragility of the Turkish banking sector after the strong economy program. Financial fragility index is an important indicator which is appropriate for application of time series. The research of Kibritçioğlu (2002) anf Singh (2010) provide the methodological reference in determining the index. In determining Ş nancial fragility, the deposit and credit structure of banking sector, foreign currency denominated liabilities, Ş nancial leverage ratio and CDS (credit default swap) spreads were used. Five (5) different indices are calculated according to these variables. Using CDS Spreads and leverage ratios in Ş nancial fragility index, divides this study from reference papers. It is concluded that CDS spreads and the exchange rate pressure increases the fragility of banks in Turkey.

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