1. Regulatory Institutions in Turkey

2. Regulatory Institutions Central Bank of Turkey Banking Supervision and Regulatory Institutions Capital Markets Board of Turkey Savings Deposit Insurance Fund The Banks Association of Turkey

3. Central Bank of the Republic of Turkey A government created institution that shapes the behavior and performance of financial firms through its money and credit policies. The primary objective of the Turkish Central Bank is to achieve and maintain price stability.

4. Powers of the Central Bank of the Republic of Turkey Being the sole authority to issue bank notes, Being authorizing to monitor money and credit in the economy and to advice government on these issues, Setting the discount, rediscount and interest rates applicable on its own transactions compliance with government policy, Having the authority to control the banks to check if they abide by the rules set by the Central Bank. Sets reserve requirement ratios for all the banks

5. Banking Regulation and Supervision Agency (BRSA) However, in year 2000, Turkish Government decided to establish an independent body, which will be the sole authority in banking sector. As a result, Banking Regulation and Supervision Agency (BRSA) was established in June 1999 according to Banks Act Nr. 4389 and began to operate in August 2000. The main aim of BRSA; improve the effectiveness of regulation and supervision and to establish an independent decision-making mechanism over the banks.

6. Banking Regulation and Supervision Agency (BRSA) According to Banking Law (Nr. 5411), Banking Law (Nr. 5411) determines all the rules and laws for the protection of the rights and benefits of the depositors, and ensuring sound operating of the credit system and to implement them; the responsibilities of BRSA are determined as; protecting the rights of depositors and ensuring sound operating of the credit system and to implement them regulating, enforcing and ensuring the enforcement to monitor and supervise the implementation of establishment and activities of banks and financial holding companies as well as leasing, factoring and financing companies.

7. Capital Markets Board of Turkey Capital Markets Board of Turkey (CMB) is the regulatory and supervisory authority in charge of the securities markets in Turkey. Empowered by the Capital Markets Law (CML), which was enacted in 1981, the CMB has been making detailed regulations for organizing the markets and developing capital market instruments and institutions for the past nineteen years in Turkey.

8. Capital Markets Board of Turkey The major objective of CMBT is to take the necessary measures for fostering the development of capital markets, and hence to contribute to the efficient allocation of financial resources in the country while ensuring investor protection.

9. Capital Markets Board of Turkey Within the scope of its mission the CMB has established its main strategic objectives as to: enhance investor protection, adopt the norms of the international capital markets and fully integrate them into regulations, promote and enhance the effectiveness of both the supply and the demand side of the markets, promote transparency and fairness in the capital markets, facilitate modernization of the market structure, enhance the infrastructure of the capital markets, enhance the quality of the work products and staff members of the Board

10. Savings Deposit Insurance Fund Savings Deposit Insurance Fund; insures savings deposits and participation funds in order to protect the rights of depositors and to contribute confidence and stability of the banking system. Also it resolves the banks and assets transferred to it in the most proper way. Deposit insurance system is the most advanced association for the protection of deposits. The first legal agreement related to the protection of savings deposits was Deposits Protection Law Nr. 2243 dated 1933. The Savings Deposits Insurance Fund had been founded in 1983 with the Decree of Law on Banks Nr.70.

11. Savings Deposit Insurance Fund In domestic branches; Deposit accounts are insured up to an amount of 50.000 YTL per person, in each deposit banks.

12. The Banks Association of Turkey Founded in 1958 as a professional organization, which is a legal entity with the status of a public institution. All deposit banks, development and investment banks operating in Turkey are obliged to become the members of the association. Preserving the rights and benefits of the banks, carrying on studies for the growth of the banking sector, taking decisions for strengthening of competitive power and preventing unfair competition.

13. Banking Law (Nr. 5411) determines all the rules and laws for the protection of the rights and benefits of the depositors, and ensuring sound operating of the credit system and to implement them