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NRQXVX VLVWHPOHULQ VDรทODGร•รทร• NDWNร•ODUOD ELUOLNWH NDWร•Oร•PFร•ODUร• LoLQ |QHPOL ULVNOHU

GH WDรบร•\DELOLU %X GXUXPGD |GHPH VLVWHPOHUL \DรบDQDFDN ELU NDUร•รบร•NOร•รทร•Q

HNRQRPLN \D GD ILQDQVDO VLVWHPLQ ELU WDUDIร•QGDQ GLรทHULQH DNWDUร•OPDVร•QD \RO

DoDQ ELU NDQDO KDOLQH JHOHELOLU %X VLVWHPLN ULVN PHUNH] EDQNDODUร•Qร•Q |GHPH

VLVWHPLQLQWDVDUร•Pร•YHLรบOH\LรบLHVQDVร•QGD\DNร•QLOJLJ|VWHUPHOHULLoLQ|QHPOLELU

QHGHQGLU 0HUNH] EDQNDVร•Qร•Q |GHPH VLVWHPLQLQ LVWLNUDUร•QD RODQ LOJLVL |GHPH

VLVWHPLQGHNL JHQLรบ ELU GL]L NDWร•Oร•PFร•Qร•Q \ยNยPOยOยNOHULQL \HULQH JHWLUHPHPH

LKWLPDOLQL D]DOWPD oDEDODUร•QGD NHQGLQL J|VWHUPHNWHGLU %|\OH ELU GXUXP

VLVWHPLQ JยYHQOL LรบOH\LรบL YH GLรทHU NDWร•Oร•PFร•ODU LoLQ FLGGL ]RUOXNODUD QHGHQ olabilmektedir. Sistemik risk olarak da bilinen bu tรผr bir riskin ortadan

NDOGร•Uร•OPDVร•PHUNH]EDQNDVร•Qร•Q|GHPHVLVWHPLDODQร•QGDNLELULQFLOKHGHILGLU






TCMBโ€™nin รถdeme sistemlerindeki gรถzetim rolรผ รงerรงevesinde sistemik

ULVNL |QOHPHN LoLQ JHOLรบWLUGLรทL PHNDQL]PDODUร•Q EDรบร•QGD V|] NRQXVX ULVNLQ

RUWD\D oร•NPDVร•QD QHGHQ RODELOHFHN GLรทHU ULVN WยUOHULQLQ JHUoHNOHรบPHVLQL

HQJHOOH\HFHN WHGELUOHU JHOPHNWHGLU 6LVWHPLQ JHUoHN ]DPDQOร• ELUH ELU

PXWDEDNDW WHNQLรทL LOH oDOร•รบPDVร• YH PXWDEDNDWร•Q PHUNH] EDQNDVร• SDUDVร• LOH

JHUoHNOHรบPHVLQHGHQLLOHNUHGLULVNLEXOXQPDPDNWDGร•U/LNLGLWHULVNLQLD]DOWPD

NRQXVXQGD LVH 7&0%ยถQLQ HQ |QHPOL DUDFร• NDWร•Oร•PFร•ODUD WHPLQDW NDUรบร•Oร•รทร•QGD

JยQ LoL OLNLGLWH VDรทODQPDVร•Gร•U 2SHUDV\RQHO ULVNLQ JHUoHNOHรบPHVL GXUXPXQGD

OLNLGLWH YH\D NUHGL ULVNL LOH NDUรบร•ODรบร•ODELOHFHรทL YH EX ULVNOHULQ VLVWHPLN ULVNH G|QยรบPHVL LKWLPDOL J|] |QยQH DOร•QDUDN NDWร•Oร•PFร•ODUร•Q X\DFDNODUร• RSHUDV\RQHO

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D\Uร•FD()7VLVWHPLQLQ\HGHNPHUNH]LGHEXOXQPDNWDGร•U

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ILQDQVDO LVWLNUDU DODQร•QGDNL GDKD JHQLรบ VRUXPOXOXNODUร•Qร•Q EยWยQFยO ELU

SDUoDVร•Gร•U gGHPH VLVWHPOHULQLQ J|]HWLPL ILQDQVDO VLVWHPLQ LVWLNUDUร•

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ND\QDNODQDFDN SRWDQVL\HO ULVNOHULQ EHOLUOHQPHVL YH RQODUร• RUWDGDQ NDOGร•UPDN

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LoLQ PHUNH] EDQNDODUร• EX KHGHIH \D \DSDFDรทร• Gย]HQOHPHOHUOH \D GDLรบOHPVHO

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EX UROย JHQHOGH VLVWHPLN ULVNLQ D]DOWร•OPDVร• \D GD RUWDGDQ NDOGร•Uร•OPDVร• LoLQ

LรบOH\LรบNXUDOODUร•ROXรบWXUPDNWร•U






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