Rekabet kavramı açısından mevduat sigorta fonu ve Türkiye uygulaması
Deposit insurance fund with respect to competition concept and Turkey's application
- Tez No: 110355
- Danışmanlar: PROF. DR. NAZIM EKEN
- Tez Türü: Yüksek Lisans
- Konular: Bankacılık, Ekonomi, Banking, Economics
- Anahtar Kelimeler: Belirtilmemiş.
- Yıl: 2002
- Dil: Türkçe
- Üniversite: Marmara Üniversitesi
- Enstitü: Bankacılık ve Sigortacılık Enstitüsü
- Ana Bilim Dalı: Bankacılık Ana Bilim Dalı
- Bilim Dalı: Belirtilmemiş.
- Sayfa Sayısı: 159
Özet
Özet yok.
Özet (Çeviri)
SUMMARY Banking systems are opened to more risks especially in the globalization process thanks to the innovations and improvements in the field of information technologies. Due to the importance of the banking system in economies; some measures, the so called safety net, should be implemented to protect it from systemic risks. The banking system performs crucial roles both in credit markets and the payment system. Moreover; unlike other industries disruptions in banking activities may have negative external effects on the other sectors of the economy. Both to ensure stability in the banking system and to limit the negative externalities associated with banking problems, rule makers have chosen not to leave the fate of the banking system solely in the hands of the market discipline and established safety net systems for banks. On the other hand; banking system failures in an economy can effect negatively the other participants of the global financial system. Owing to the contagious effects of the banking system failures, the damage can be too devatating to predict. Thus the safety net serve also as a buffer zone between banking system failures in an economy and the other participiants of the global financial system. The safety net includes mainly; deposit insurance, lender of last resort function of central banks and the discount window. These elements provide banks safety, liquidity and solvency. Deposit insurance is the most widespread application because of its power to ensure stability especially after severe banking crises. Notwithstanding the demonstrable advantages of deposit insurance, - to maintain stability in the financial system, to protect small depositors from losses associated with banking failures, and to ensure the viability of small banks- it causes moral hazard, some distortions in the price mechanism both in deposit and loan markets, and it increases the government supervision and regulations. Deposit insurance can effect negatively competition conditions both in banking sector and other sectors of the economy. Performing under deposit insurance umbrella, banks can encourage to take excesive risk, the so called moral hazard. On the other hand, depositors prefer high yields ignoring the risk conditions of their banks with the conscience öf theguarantee. After the implementation of deposit insurance, banks' offer higher rates for deposits. Competition over solely interest rates, distort price equilibrium both in deposit and loan markets. Moreover; excessive risk taking via severe competition after deposit insurance implementation, can increase both social and economic costs of potential banking defaults. Under performing deposit insurance umbrella, the excessive risk takers benefit much more from the insurance system according to their rivals. Owing to this reason, each bank tends to increase interest rates for deposit. Rate ceiling and limited coverage may prevent banks to take excessive risk. Rate ceiling can change the dimension of competition among banks, arisen after the implementation of deposit insurance. After rate ceiling, depositors can care the other services of banks, if the rate ceiling is defined optimal. Unfortunately, defining the rate ceiling for reaching optimal welfare is nearly imposible. Limited coverage direct depositors to monitor risk conditions of their banks. Depositors can punish the banks that take excessive risk, via demanding higher interest rates or withdrawing their deposits, if there is limited coverage. Deposit insurance may change the competition conditions in favor of banks among the financial intermediaries. Thanks to deposit insurance, banks take the biggest portion of savings. Performing in market conditions non-banking financail intermediaries should offer profit rates over the deposit interest rates in order to make competition with banks. If they offer even the same profit rates with the interest rates, they can't increase their shares in savings; because the guarantee prevent saver to make investment at non-banking intermediaries. Deposit insurance may ensure some benefits to the companies that share the same holding company with the banks. Owing to the holding company structure, subsidiaries of banks and non-banking affiliates may gain some advantages against their rivals. Subsidiaries and affiliates can take credits with more suitable repayment and interest conditions. Moreover; banks related companies can take credits even in crisis period while their rivals suffer from liquidity crunch.Companies, sharing the same holding company with banks, use' the protection of the deposit insurance if they take more suitable credits according to the market conditions. Ignoring the risk conditions of the holding companies, banks can give excessive credits to them, even opposing the rules due to the protection serviced by the deposit insurance. Owing to this value transfer from deposit insurance, banks related companies may gain some privileges according to their rivals in the same industry. Moreover; holding company structure can increase the riskiness of the banking industry because of the above mentioned value transfer. In order to limit risks, caused by holding company structure, additional rules and regulations should be implemented, even they may prevent innovations and improvements in banking industry. Banks have privileges against non-banking intermediaries in Turkey thanks to the full coverage deposit insurance application. Teherefore; banks are the biggest actors in Turkish financial markets. Due to the holding company structure, associated with deposit insurance, bank related companies have privileges against their rivals in Turkish economy. Moreover; due to the severe competition among banks, caused by deposit insurance, Turkish banking system faces serious banking crises.
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