TÜRK EKONOMİSİ

“The Banking Regulation and Supervision Agency carries out the functions of regulation, supervision and enforcement within the aim of providing reliability and stability in financial markets, ensuring the efficient running of the credit system, protecting rights and interests of savers and developing financial sector considers strategic planning as one of the main instruments to fulfill its duties effectively.” (BRSA, 2019).

BRSA, The Banking Regulation And Supervision Agency, https://www.bddk.org.tr/aboutus/about- agency/16, May 2019.

Another significant institution related to regulations is the Capital Markets Board of Turkey (CMBT). “It aims to ensure efficient and extensive involvement of the public to economic development through transforming investments into securities and protect the rights and benefits of investors by promoting the principles of fairness, transparency and stability in the capital market.” (CMBT, 2019).

CMBT, (2019). The Capital Markets Board Of Turkey, http://www.cmb.gov.tr/sayfa/index/0/0, 26 September 2019.

Thanks to the banking and financial reforms that were implemented by the government in the 2000s, the Turkish finance and banking sectors have become more enduring in recent years.

Turkey follows the Basel III criteria and puts more weight on macro and micro- prudential legislation to be conducted within the finance and banking industry.

Some goals and objectives of the Capital Markets Board of Turkey are listed as follows:

CMBT, (2019). The Capital Markets Board Of Turkey, http://www.cmb.gov.tr/sayfa/index/0/0, 26 September 2019

The Banking Regulation and Supervision Agency (BRSA) and the Capital Markets Board of Turkey (CMBT) are two key and significant public institutions that supervise the Turkish financial markets.

The Banking Regulation and Supervision Agency (BRSA) was established and started to operate in the mid of 2000.

Protecting Turkish Lira is not among the goals and objectives of the Capital Markets Board of Turkey.

The 1980s represented a major turning point, a rapid acceleration toward capitalization and financialization in Turkish finance and banking sector.

NASDAQ stands for National (USA) Association of Securities Dealers Automated Quotations System.

High Number of Foreign Banks is not a Characteristics of Turkish Financial and Banking Sector Prior the 1980s.

Turkish government seized control of 6 banks in 1999.

By the end of 2018, the total number of banks operating in Turkey was 51.

The top 5 banks by total asset, respectively, are Ziraat, Türkiye İş, Halk, Garanti and Yapı Kredi.

The share of total loans in the total asset is about 60 % in 2019.