Monetary Policy Decisions’ Impacts on Bank Leverage and Liquidity Ratios in Türkiye

Year 2024, Volume: 39 Issue: 2, 590 - 604, 06.06.2024

Aydın Gürbüz , Emre Tatlıyer , Meltem Kılıç , Yücel Ayrıçay

https://doi.org/10.24988/ije.1345625

Abstract

This study explores how banks in the Turkish banking system design their asset and equity structures in return for monetary policy changes. In this context, between the periods of 2010-2020, we estimate bank leverage and liquidity with multiple monetary policy indicators and by employing two econometric models of static and dynamic panels. According to the results, banks reply to monetary expansion by picking up their leverage ratios on the liability part. On the other hand, banks reply to monetary expansion by enhancing their liquidity positions on the asset part. Also, the originality of our empirical study comes from that; this is the first attempt to evaluate the effects of monetary policy changes simultaneously on both sides of bank balance sheets’ in Türkiye.

Keywords

Monetary Policy, Bank Leverage, Bank Liquidity

Türkiye'de Para Politikası Kararlarının Banka Kaldıraç ve Likidite Oranlarına Etkileri

Abstract

Bu çalışma, Türk bankacılık sisteminin para politikası kararlarına yönelik aktif ve pasif yapılarını nasıl tasarladıklarını incelemektedir. Bu kapsamda, iki ayrı ekonometrik yaklaşım statik ve dinamik panel modellerini kullanarak, çoklu para göstergeleri ile banka kaldıracı ve likiditesini 2010-2020 dönemi için tahmin etmekteyiz. Bulgularımıza göre, parasal genişleme esnasında bankalar yükümlülük tarafında kaldıraçlarını artırarak cevap vermektedir. Öte yandan, bankalar varlık tarafında ise likiditelerini artırarak tepki göstermektedir. Ayrıca, ampirik çalışmamızın özgünlüğü Türkiye’deki para politikası değişikliklerinin banka bilançolarının aynı anda her iki tarafındaki etkilerini inceleyen ilk girişim olmasından kaynaklanmaktadır.

Keywords

Para politikası, Banka kaldıracı, Banka likiditesi

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