Economic Policy Research Foundation of Turkey (TEPAV) by the banks to use the last 1 year and approximately $ 1 billion in long-term loans increased by $ 9 billion increase in short-term loans taken note that,''Turkish Foreign banks' deposits held by banks with $ 13 billion increase in short-term $ 22 billion was net foreign resource utilization. Fund flow is increasing the likelihood of deterioration in bank balance sheets is a persistent and systematic''the statement said.
Economic Policy Analyst TEPAV Shield by steep banks,''the short-term fund inflows published work titled''harm.
In the study, with the crisis the Central Bank of the United States, especially developed countries, such as central banks, monetary expansion, went to Turkey with some short-term financial flows towards developing countries was pointed out is increasing rapidly.
Turkey, the main entrance channel to the flow of funds due to banks' balance sheets of the banking sector becomes more risky the study of expression,''I already live in the growing domestic demand is added to the fund flows, a significant expansion of domestic credit volume was achieved. 23 percent of total loan volume of the first 10 months of 2010, consumer credit volume increased by 31 percent''the statement said.
WHY BANKS''BABACAN received?''
In the study, the State Minister and Deputy Prime Minister Ali Babacan, on 22 December 2010 the bank's top 49 executives gathered in Ankara anımsatılarak, were recorded as follows:
Responsible for arranging this meeting and financial stability,''the Central Bank, the Treasury, joined by senior executives of the BRSA and the CMB. Credit expansion in the meeting, Minister Babacan stated that the threat to financial stability and monetary policy and bank credit expansion was reflected in the press wants to yavaşlatmalarını.
Why is it so feared the expansion of credit over the management of the public discussed the economy. Discussed in part triggered by imports and current account deficit, domestic credit expansion stimulates mentioned. Well, actually the problem is not only about the current account deficit?
Net effect of outsourcing of the crisis devastating the economy of Turkey started in the last quarter of 2008 reached $ 17 billion. By October 2009, experienced a contraction and then quickly used by banks to foreign funds decreased by $ 7 billion. Later, the use of outsourcing has started to recover. October 2010, when we use the resources of banks abroad increased by U.S. $ 22.5 billion last year.''
In the study, the last one year, one other important matter regarding the use of outsourcing 98 percent of these resources also taken note that the formation of short-term sources, the long-term loans used by banks in this period increased by about 1 billion dollars, the increase in short-term loans of $ 9 billion that the six were drawn. In the study, also of Turkish banks by foreign banks held deposits of $ 13 billion with an increase in the use of short-term net foreign source was pointed out that 22 billion dollars.
IMPORTANT MEASURES TAKEN TO THE credit expansion''''
Deteriorating balance sheet and increased riskiness of banks in the light of this data structure is impossible to detect the expression of two of the study, the first,''fund flows, this structure increases the likelihood of deterioration in bank balance sheets in a''persistent and systematic evaluation was made. The second is identified as, recent public opinion heavily debated issue of limiting the flow of funds referred to in the short-term study,''the last 1 year, entering the financial flow in the system used by banks to 57 percent is composed of short-term sources. For example, the hot money portfolio movements described as the last 1 year, 15 billion dollars. Banks in $ 22 billion in short-term resource utilization is concerned, the regulations in this area may be more effective in correcting the current account deficit funding structure,''the statement said.
In the study, the Central Bank and the BRSA regarding the recent expansion of credit is extremely important that the measures taken, were recorded as follows:
Credit expansion in domestic consumption and imports of''triggering effect through the current account deficit is increasing public debate. However, increased fund flows can be seen in the financing structure of banks has led to a serious change. This also shows the financial system in the coming period karşılaşabileceğini serious risks. Corrective action will be able to slow down the financial structure of the rapid deterioration in credit expansion. In addition, banks' liability for the use of short-term measures may provide improvement in the structure of financing the current account deficit to be on the agenda.''
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