<\/p>\n
Fed, Amerikan finansal sistemindeki mevcut duruma ili\u015fkin de\u011ferlendirmelerin yer ald\u0131\u011f\u0131 Finansal \u0130stikrar Raporu’nun May\u0131s 2023 say\u0131s\u0131n\u0131 yay\u0131mlad\u0131.<\/p>\n
Raporda, bir \u00f6nceki raporun yay\u0131mland\u0131\u011f\u0131 ge\u00e7en y\u0131l kas\u0131m ay\u0131ndan sonra bu y\u0131l Silikon Vadisi Bankas\u0131 (SVB), Signature Bank ve First Republic Bank’\u0131n faiz oran\u0131 ve likidite risklerinin k\u00f6t\u00fc y\u00f6netilmesine ili\u015fkin endi\u015felerin yol a\u00e7t\u0131\u011f\u0131 \u00f6nemli mevduat \u00e7\u0131k\u0131\u015flar\u0131n\u0131n ard\u0131ndan iflas etti\u011fi an\u0131msat\u0131ld\u0131.<\/p>\n
Mart ay\u0131nda, bankac\u0131l\u0131k sistemindeki daha geni\u015f yay\u0131lmalar\u0131 \u00f6nlemek i\u00e7in Fed’in Federal Mevduat Sigorta Kurumu (FDIC) ve Hazine Bakanl\u0131\u011f\u0131 ile birlikte, banka mudilerini korumak ve hanehalklar\u0131na s\u00fcrekli kredi ak\u0131\u015f\u0131n\u0131 desteklemek i\u00e7in ad\u0131mlar att\u0131\u011f\u0131na de\u011finilen raporda “Bu ad\u0131mlar ile bankac\u0131l\u0131k ve finans sekt\u00f6r\u00fcn\u00fcn dayan\u0131kl\u0131l\u0131\u011f\u0131 sayesinde, finansal piyasalar normale d\u00f6nd\u00fc ve mart ay\u0131ndan bu yana mevduat ak\u0131\u015flar\u0131 istikrar kazand\u0131. Ancak b\u00fcy\u00fck mevduat \u00e7\u0131k\u0131\u015flar\u0131 ya\u015fayan baz\u0131 bankalar stres ya\u015famaya devam etti. Bu geli\u015fmeler ileriye d\u00f6n\u00fck kredi ko\u015fullar\u0131 \u00fczerinde bask\u0131 olu\u015fturabilir.” de\u011ferlendirmesinde bulunuldu.<\/p>\n
Raporda, Hazine tahvil getirilerinin artan piyasa oynakl\u0131\u011f\u0131 nedeniyle mart ay\u0131nda d\u00fc\u015ft\u00fc\u011f\u00fc belirtilerek hisse senedi fiyatlar\u0131n\u0131n da tarihsel medyan\u0131n \u00fczerinde kald\u0131\u011f\u0131 kaydedildi.<\/p>\n
Konut ama\u00e7l\u0131 gayrimenkul de\u011ferlemelerinin faaliyetteki zay\u0131flamaya ra\u011fmen y\u00fcksek seviyesini korudu\u011fu ifade edilen raporda, finansal olmayan i\u015fletmelerin ve hanehalk\u0131n\u0131n bor\u00e7lanmas\u0131ndan kaynaklanan k\u0131r\u0131lganl\u0131klar\u0131n ge\u00e7en y\u0131l kas\u0131m ay\u0131ndan bu yana \u00e7ok az de\u011fi\u015fim g\u00f6sterdi\u011fi bildirildi.<\/p>\n
Raporda, ticari bor\u00e7 art\u0131\u015f\u0131n\u0131n gayrisafi yurt i\u00e7i has\u0131laya g\u00f6re y\u00fcksekli\u011fini korudu\u011fu, hanehalk\u0131 borcunun oran\u0131n\u0131n da \u0131l\u0131ml\u0131 seviyelerde kald\u0131\u011f\u0131 aktar\u0131ld\u0131.<\/p>\n
Sigortas\u0131z mevduatlara a\u015f\u0131r\u0131 ba\u011f\u0131ml\u0131l\u0131k ile zay\u0131f risk y\u00f6netimine ili\u015fkin endi\u015felerin piyasa kat\u0131l\u0131mc\u0131lar\u0131n\u0131n baz\u0131 bankalar\u0131n g\u00fcc\u00fcn\u00fc yeniden de\u011ferlendirmesine yol a\u00e7t\u0131\u011f\u0131na i\u015faret edilen raporda, “Genel olarak, bankac\u0131l\u0131k sekt\u00f6r\u00fc \u00f6nemli zarar kar\u015f\u0131lama kapasitesiyle dayan\u0131kl\u0131l\u0131\u011f\u0131n\u0131 korudu.” ifadesi kullan\u0131ld\u0131.<\/p>\n
Raporda, sigortas\u0131z mevduatlar\u0131n \u00f6nemli \u00f6l\u00e7\u00fcde geri \u00e7ekilmesinin SVB, Signature Bank ve First Republic Bank’\u0131n iflaslar\u0131na katk\u0131da bulundu\u011fu vurgulanarak, bunun ba\u015fta b\u00fcy\u00fck \u00f6l\u00e7\u00fcde sigortas\u0131z mevduatlara dayanan ve \u00f6nemli \u00f6l\u00e7\u00fcde faiz oran\u0131 riskine maruz kalanlar olmak \u00fczere di\u011fer baz\u0131 bankalar i\u00e7in artan fonlama s\u0131k\u0131nt\u0131lar\u0131na yol a\u00e7t\u0131\u011f\u0131 belirtildi.<\/p>\n
Fed ve di\u011fer kurumlar taraf\u0131ndan yap\u0131lan politika m\u00fcdahalelerinin bu bask\u0131lar\u0131n hafifletilmesine yard\u0131mc\u0131 oldu\u011funun alt\u0131 \u00e7izilen raporda, para piyasas\u0131 fonlar\u0131 ve di\u011fer nakit yat\u0131r\u0131m ara\u00e7lar\u0131n\u0131n “ka\u00e7\u0131\u015f”lara kar\u015f\u0131 savunmas\u0131z kald\u0131\u011f\u0131 ve k\u0131sa vadeli fonlama piyasalar\u0131n\u0131n k\u0131r\u0131lganl\u0131\u011f\u0131na katk\u0131da bulundu\u011fu kaydedildi.<\/p>\n
Raporda, ABD’nin finansal istikrar\u0131na y\u00f6nelik k\u0131sa vadeli riskleri de tart\u0131\u015f\u0131l\u0131rken, s\u0131kl\u0131kla belirtilen riskler aras\u0131nda devaml\u0131 enflasyon ile daha s\u0131k\u0131 para politikas\u0131, \u200b\u200b\u200b\u200b\u200b\u200b\u200bbankac\u0131l\u0131k sekt\u00f6r\u00fc stresi ve jeopolitik gerilimler yer ald\u0131.<\/p>\n
Finansal istikrara y\u00f6nelik belirgin riskler ara\u015ft\u0131rmas\u0131na da de\u011finilen raporda, ara\u015ft\u0131rmaya kat\u0131lanlar\u0131n neredeyse yars\u0131n\u0131n ABD’nin bor\u00e7 limiti a\u00e7maz\u0131n\u0131 olas\u0131 riskler aras\u0131nda g\u00f6rd\u00fc\u011f\u00fcn\u00fc belirtmesi dikkati \u00e7ekti.<\/p>\n
Raporda, ABD’nin bor\u00e7 limiti tavan\u0131 zaman\u0131nda y\u00fckseltilmezse, olas\u0131 bir temerr\u00fcd\u00fcn olumsuz sonu\u00e7lar\u0131na de\u011finilerek, bu sonu\u00e7lar aras\u0131nda finansman piyasas\u0131nda aksamalar ve daha s\u0131k\u0131 mali ko\u015fullar\u0131n yer ald\u0131\u011f\u0131 ifade edildi.<\/p>\n