World Bank2012-06-122012-06-122007-09https://hdl.handle.net/10986/7897A joint International Monetary Fund-World Bank team conducted an assessment of Turkey's financial system in connection with the Financial Sector Assessment Program (FSAP) through missions in April, August-September 2006 and March, 2007. This report provides a summary of the main findings of the assessment and the policy priorities identified. The main objective of the FSAP is to assist the authorities to assess potential areas of vulnerability and current initiatives to develop the local financial sector. This report gives an overall assessment of the financial sector in Turkey. The report gives an updated overall assessment, economic background, discusses the banking sector, financial conditions and stress testing, non-bank financial institutions, pension funds, capital markets and the financial infrastructure of Turkey.CC BY 3.0 IGOACCOUNTINGASSET VALUEBALANCE SHEETBALANCE SHEETSBANK ASSETSBANK CREDITBANK DEPOSITBANK LENDINGBANK MARKETBANK PROFITABILITYBANK REGULATIONBANK SUPERVISIONBANKING LAWBANKING REGULATIONBANKING SECTORBANKING SYSTEMBANKRUPTCYBOND YIELDSBONDSCAPITAL ADEQUACYCAPITAL ALLOCATIONCAPITAL INFLOWSCAPITAL MARKETCAPITAL MARKET DEVELOPMENTCAPITAL MARKET REGULATIONCAPITAL MARKETSCAPITAL REQUIREMENTCAPITAL REQUIREMENTSCAPITALIZATIONCENTRAL BANKCHECK CLEARINGCIVIL PENALTIESCOLLATERALCOMMERCIAL CODECOMMERCIAL CREDITCONSUMER CREDITCONSUMER CREDITSCONTINGENCY PLANNINGCORPORATE BONDCORPORATE GOVERNANCECOUNTRY EQUITYCREDIT ACCESSCREDIT BUREAUCREDIT CARDSCREDIT EXPANSIONCREDIT GROWTHCREDIT INFORMATIONCREDIT INFORMATION SYSTEMCREDIT INFORMATION SYSTEMSCREDIT QUALITYCREDIT RISKCREDIT SCORINGCURRENT ACCOUNT DEFICITCUSTODYDEBTDEBT HOLDINGSDEBT OUTSTANDINGDEBT SERVICEDEBT SERVICINGDEBT-EQUITYDEBTORDEPOSITDEPOSIT ACCOUNTSDEPOSIT INSURANCEDEPOSITORDEPOSITORSDEPOSITSDOMESTIC BANKSDOMESTIC DEBTDOMESTIC INTEREST RATESDUE DILIGENCEEMERGING MARKETEMERGING MARKET COUNTRIESEMERGING MARKET GROUPEMERGING MARKETSENFORCEMENT POWERSEQUITY MARKETEQUITY MARKET CAPITALIZATIONEQUITY MARKETSEXCHANGE RATEFINANCIAL DEVELOPMENTFINANCIAL FLOWSFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONSFINANCIAL MARKETSFINANCIAL RISKSFINANCIAL SECTOR DEVELOPMENTFINANCIAL SYSTEMFIXED INCOMEFLOATING INTEREST RATEFLOATING INTEREST RATESFLOATING RATESFOREIGN BANKFOREIGN BANKSFOREIGN CURRENCYFOREIGN CURRENCY LOANSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN INFLOWSFOREIGN INVESTMENTFOREIGN LENDERSGOVERNMENT DEBTGOVERNMENT DEBT MARKETGOVERNMENT SECURITIESGOVERNMENT SECURITIES HOLDINGSGRACE PERIODSGROSS SETTLEMENT SYSTEMHEDGESHOLDINGSHOUSING FINANCEINCOME INSTRUMENTINFLATIONINFORMATION SYSTEMSINITIAL PUBLIC OFFERINGINITIAL PUBLIC OFFERINGSINSIDER TRADINGINSURANCE COMPANIESINSURANCE POLICIESINTEREST RATE RISKINTEREST RATE SPREADSINTEREST RATESINTERNATIONAL INVESTORSINTERNATIONAL STANDARDSINVESTMENT ALLOCATIONINVESTMENT INCOMEIPOJUDICIAL SYSTEMLEGAL AUTHORITYLEGAL FRAMEWORKLEGAL SYSTEMLIABILITYLIFE INSURANCELIFE INSURANCE COMPANIESLIQUIDATIONLIQUIDITYLIQUIDITY RISKLOANLOAN QUALITYMACROECONOMIC RISKSMACROECONOMIC STABILITYMARKET DEVELOPMENTSMARKET INFRASTRUCTUREMARKET INTERMEDIARIESMARKET PARTICIPANTSMARKET PRACTICEMARKET RISKMARKET SHAREMARKETABLE DEBTMATURITIESMATURITYMATURITY MISMATCHESMINORITY SHAREHOLDERSMONETARY FUNDMONETARY INSTRUMENTSMONEY MARKETMORTGAGEMORTGAGE FINANCEMORTGAGE LOANSMORTGAGE MARKETMORTGAGE MARKETSMORTGAGE-BACKED SECURITIESMORTGAGESMUTUAL FUNDSNONPERFORMING LOANNONPERFORMING LOANSPENSIONPENSION ASSETSPENSION FUNDSPENSION SYSTEMPENSION SYSTEMSPENSIONSPORTFOLIOPORTFOLIO DIVERSIFICATIONPOTENTIAL INVESTORSPREPAYMENTPRIMARY DEALERSPRIVATE BANKSPRIVATE CAPITALPRIVATE CREDITPRIVATE LENDERSPUBLIC FUNDSPUBLIC SECTOR DEBTPURCHASING POWERREGULATORY FRAMEWORKREPAYMENTREPOSRESERVESRESIDENTIAL MORTGAGESRETURNRETURNSRISK FACTORSRISK MANAGEMENTRISK PROFILESAFETY NETSAVINGS DEPOSITSECURITIESSECURITIES MARKETSECURITIES MARKETSSECURITIES REGULATIONSECURITY MARKETSETTLEMENTSETTLEMENT SYSTEMSSHAREHOLDERSSHORT MATURITIESSOLVENCYSOVEREIGN BONDSOVEREIGN BOND MARKETSOVEREIGN RISKSTATE BANKSTATE BANKSSTOCK EXCHANGESUPERVISORY AGENCIESSUPERVISORY POWERSSWAPSWAPSTAXTAX INCENTIVESTERRORISMTRADINGTRANSACTIONTRANSFER RISKSTRANSPARENCYTREASURYTURNOVERVALUATIONWorld Bank10.1596/7897