The Experience with Macro-Prudential Policies of the Central Bank of the Republic of Turkey in Response to the Global Financial Crisis

Kenc, Turalay; Turhan, M. Ibrahim; Yildirim, Onur

dc.creator	Kenc, Turalay
dc.creator	Turhan, M. Ibrahim
dc.creator	Yildirim, Onur
dc.date	2012-03-19T18:05:16Z
dc.date	2012-03-19T18:05:16Z
dc.date	2011-10-01
dc.date.accessioned	2023-02-17T21:00:02Z
dc.date.available	2023-02-17T21:00:02Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111005142139
dc.identifier	http://hdl.handle.net/10986/3598
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244562
dc.description	This brief country case study on Turkey aims to summarize the fundamental developments in the banking sector, which represents almost 90 percent of the financial sector in the country. The brief has two parts. The first covers the 2001 financial crisis and the developments until end of 2007, the year before the global financial crisis of 2008 started. The second part focuses on the macro-prudential policies applied by the Central Bank of the Republic of Turkey in response to the global financial crisis in three phases: (i) full liquidity support after Lehman Brothers' collapse (September 2008), (ii) the exit strategy (April 2010), and (iii) the new policy mix (final quarter of 2010).
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5834
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ADVANCED ECONOMIES
dc.subject	ASSET QUALITY
dc.subject	ASSETS
dc.subject	ASSETS RATIO
dc.subject	BALANCE OF PAYMENTS
dc.subject	BALANCE SHEET
dc.subject	BANK BALANCE SHEETS
dc.subject	BANK CREDITS
dc.subject	BANK OF ENGLAND
dc.subject	BANK OF JAPAN
dc.subject	BANK POLICIES
dc.subject	BANK RUN
dc.subject	BANKING CRISIS
dc.subject	BANKING LAW
dc.subject	BANKING REGULATION
dc.subject	BANKING SECTOR
dc.subject	BANKING SYSTEM
dc.subject	BORROWING
dc.subject	BUFFER
dc.subject	CAPITAL ACCOUNTS
dc.subject	CAPITAL ADEQUACY
dc.subject	CAPITAL ADEQUACY RATIOS
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL GAIN
dc.subject	CAPITAL INFLOW
dc.subject	CAPITAL INFLOWS
dc.subject	CAPITAL STRUCTURE
dc.subject	CAPITAL STRUCTURES
dc.subject	CENTRAL BANK
dc.subject	CENTRAL BANK POLICIES
dc.subject	CENTRAL BANKS
dc.subject	CONSOLIDATION
dc.subject	CONSOLIDATION PROCESS
dc.subject	CONSUMER CREDITS
dc.subject	CONSUMER LOANS
dc.subject	CONSUMER PRICE INFLATION
dc.subject	CORPORATE GOVERNANCE
dc.subject	COUNTRY ECONOMIES
dc.subject	CREDIT CARD
dc.subject	CREDIT CARDS
dc.subject	CREDIT EXPANSION
dc.subject	CREDIT GROWTH
dc.subject	CREDIT MARKETS
dc.subject	CREDIT RISK
dc.subject	CREDITORS
dc.subject	CURRENCY SWAPS
dc.subject	CURRENT ACCOUNT
dc.subject	CURRENT ACCOUNT BALANCE
dc.subject	CURRENT ACCOUNT DEFICIT
dc.subject	DEBT STOCK
dc.subject	DEBTORS
dc.subject	DEFICITS
dc.subject	DEMAND DEPOSITS
dc.subject	DEPOSIT INSURANCE
dc.subject	DEPOSIT INSURANCE SCHEMES
dc.subject	DEPOSIT INTEREST
dc.subject	DEPOSIT INTEREST RATES
dc.subject	DEPOSITS
dc.subject	DEPRECIATION
dc.subject	DOMESTIC DEMAND
dc.subject	DOMESTIC LIQUIDITY
dc.subject	DUE DILIGENCE
dc.subject	ECONOMIC CRISIS
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC MODEL
dc.subject	ECONOMIC POLICIES
dc.subject	EMERGING ECONOMIES
dc.subject	EMERGING MARKET
dc.subject	EMERGING MARKET COUNTRIES
dc.subject	EMERGING MARKET ECONOMIES
dc.subject	EMERGING MARKETS
dc.subject	EUROPEAN CENTRAL BANK
dc.subject	EXCESS LIQUIDITY
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATE CHANNEL
dc.subject	EXCHANGE RATE MISALIGNMENTS
dc.subject	EXCHANGE RATE POLICY
dc.subject	EXCHANGE RATE REGIME
dc.subject	EXCHANGE RATE UNCERTAINTY
dc.subject	EXCHANGE RATES
dc.subject	EXCHANGE-RATE
dc.subject	EXIT STRATEGY
dc.subject	FEDERAL RESERVE
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL DEEPENING
dc.subject	FINANCIAL INSTITUTIONS
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL REGULATION
dc.subject	FINANCIAL RISKS
dc.subject	FINANCIAL SECTOR
dc.subject	FINANCIAL STABILITY
dc.subject	FINANCIAL STABILITY OBJECTIVE
dc.subject	FINANCIAL STABILITY OBJECTIVES
dc.subject	FISCAL DISCIPLINE
dc.subject	FISCAL POLICY
dc.subject	FOREIGN BANKS
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN CURRENCY RISK
dc.subject	FOREIGN CURRENCY RISKS
dc.subject	FOREIGN EXCHANGE
dc.subject	FREE BANKING
dc.subject	GOOD GOVERNANCE
dc.subject	GOVERNANCE PRACTICES
dc.subject	GOVERNMENT BUDGET
dc.subject	GOVERNMENT BUDGET DEFICIT
dc.subject	GOVERNMENT DEBT
dc.subject	GOVERNMENT SECURITIES
dc.subject	GRACE PERIOD
dc.subject	GROSS DOMESTIC PRODUCT
dc.subject	GROWTH RATE
dc.subject	GROWTH RATES
dc.subject	HIGH INFLATION
dc.subject	HOLDING
dc.subject	HOLDING COMPANIES
dc.subject	HOLDINGS
dc.subject	HOUSING
dc.subject	ILLIQUIDITY
dc.subject	IMPORT
dc.subject	IMPORT DEMAND
dc.subject	IMPORTS
dc.subject	INFLATION
dc.subject	INFLATION RATE
dc.subject	INFLATION RATES
dc.subject	INFLATION REPORT
dc.subject	INFLATION TARGET
dc.subject	INFLATION TARGETING
dc.subject	INFLATION TARGETING FRAMEWORK
dc.subject	INFLATION TARGETS
dc.subject	INTEREST RATE
dc.subject	INTEREST RATE ADJUSTMENT
dc.subject	INTEREST RATE DIFFERENTIAL
dc.subject	INTEREST RATE DIFFERENTIALS
dc.subject	INTEREST RATES
dc.subject	INTEREST-RATE
dc.subject	INTERNATIONAL BANK
dc.subject	INVESTING
dc.subject	LEGAL ENVIRONMENT
dc.subject	LIQUIDITY
dc.subject	LIQUIDITY CONDITIONS
dc.subject	LIQUIDITY MANAGEMENT
dc.subject	LIQUIDITY RISKS
dc.subject	LIQUIDITY SUPPORT
dc.subject	LOAN
dc.subject	MACROECONOMIC ENVIRONMENT
dc.subject	MARKET PARTICIPANTS
dc.subject	MARKET SHARES
dc.subject	MATURITIES
dc.subject	MATURITY
dc.subject	MATURITY EXTENSION
dc.subject	MATURITY MISMATCH
dc.subject	MATURITY MISMATCHES
dc.subject	MONETARY EXPANSION
dc.subject	MONETARY FUND
dc.subject	MONETARY POLICY
dc.subject	MONEY MARKET
dc.subject	MONEY MARKETS
dc.subject	MORAL HAZARD
dc.subject	MORTGAGES
dc.subject	NONPERFORMING LOANS
dc.subject	NPL
dc.subject	OPERATIONAL RISK
dc.subject	POLICY RESPONSE
dc.subject	PRICE STABILITY
dc.subject	PRICE STABILITY OBJECTIVES
dc.subject	PRINCIPAL REPAYMENT
dc.subject	PRIVATE BANK
dc.subject	PRIVATE BANKS
dc.subject	PROFITABILITY
dc.subject	PUBLIC BANKS
dc.subject	PUBLIC DEBT
dc.subject	PUBLIC DEBT INSTRUMENTS
dc.subject	PUBLIC DEFICITS
dc.subject	RAPID CREDIT EXPANSION
dc.subject	REAL APPRECIATION
dc.subject	REAL ESTATE LOANS
dc.subject	REAL INTEREST
dc.subject	REAL INTEREST RATES
dc.subject	REAL SECTOR
dc.subject	RECESSION
dc.subject	RECESSIONS
dc.subject	REGULATORY FRAMEWORK
dc.subject	REMUNERATION
dc.subject	REPO
dc.subject	REPO AUCTIONS
dc.subject	REPO RATE
dc.subject	RESERVE
dc.subject	RESERVE ACCUMULATION
dc.subject	RESERVE RATIOS
dc.subject	RESERVE REQUIREMENTS
dc.subject	RESERVES
dc.subject	RISK AVERSION
dc.subject	RISK MANAGEMENT
dc.subject	SAVINGS
dc.subject	SAVINGS DEPOSIT
dc.subject	SHARE OF CREDITS
dc.subject	SHORT-TERM INTEREST RATE
dc.subject	SHORT-TERM INTEREST RATES
dc.subject	SHORT-TERM RATES
dc.subject	SLOWDOWN
dc.subject	SOVEREIGN DEBT
dc.subject	SPECULATIVE INFLOWS
dc.subject	STATE BANKS
dc.subject	SUPPLY CONDITIONS
dc.subject	SUSTAINABLE GROWTH
dc.subject	SWAP
dc.subject	SWAP MARKETS
dc.subject	SWAPS
dc.subject	TARGET GROWTH RATE
dc.subject	TAX
dc.subject	TAX DEDUCTION
dc.subject	TAX HIKES
dc.subject	TOTAL CREDIT
dc.subject	TOTAL CREDITS
dc.subject	TRANSACTION
dc.subject	TREASURY
dc.subject	TREASURY BONDS
dc.subject	UPWARD PRESSURE
dc.subject	WEIGHTS
dc.subject	WITHDRAWAL
dc.subject	WORKING CAPITAL
dc.subject	YIELD CURVE
dc.subject	YIELD CURVES
dc.title	The Experience with Macro-Prudential Policies of the Central Bank of the Republic of Turkey in Response to the Global Financial Crisis
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Europe and Central Asia
dc.coverage	Europe and Central Asia
dc.coverage	Middle East
dc.coverage	Europe
dc.coverage	Eastern Europe
dc.coverage	Asia
dc.coverage	Turkey