{"id":4753,"date":"2023-08-29T10:28:44","date_gmt":"2023-08-29T07:28:44","guid":{"rendered":"https:\/\/datakapital.com\/blog\/?p=4753"},"modified":"2025-07-20T01:28:41","modified_gmt":"2025-07-19T22:28:41","slug":"turkiyede-doviz-basmanin-incelikleri","status":"publish","type":"post","link":"https:\/\/datakapital.com\/blog\/turkiyede-doviz-basmanin-incelikleri\/","title":{"rendered":"T\u00fcrkiye’de D\u00f6viz Basman\u0131n \u0130ncelikleri"},"content":{"rendered":"

\u0130lgin\u00e7 bir bi\u00e7imde d\u00fcnya \u00fczerindeki her banka d\u00f6viz basma faaliyeti yapabilir, T\u00fcrkiye’deki bankalarda bunu yapabilir demi\u015ftik.<\/a> Bas\u0131lan d\u00f6vizin ad\u0131 d\u00f6viz mevduat\u0131d\u0131r. Bankalar her kredi verdiklerinde ortaya yeni d\u00f6viz mevduat\u0131 \u00e7\u0131kar.<\/p>\n

D\u00f6viz kredileri \u00fczerindeki k\u0131s\u0131tlar T\u00fcrkiye’de bankalar\u0131n d\u00f6viz basmalar\u0131n\u0131 engelledi. KKM bu s\u00fcrecin devam\u0131nda bir ihtiya\u00e7 olarak ortaya \u00e7\u0131kt\u0131. D\u00f6viz kredilerinden a\u00e7\u0131lan bo\u015flu\u011fu doldurdu.<\/p>\n

Muhasebe kay\u0131tlar\u0131 \u00fczerinden d\u00f6viz nas\u0131l bas\u0131l\u0131r, g\u00f6sterece\u011fiz. Her kay\u0131t \u00e7ift at\u0131l\u0131r. At\u0131lan her kay\u0131t bilan\u00e7onun aktifini veya pasifini etkiler.<\/a> \u0130lk kay\u0131ta bor\u00e7, ikinci kay\u0131ta alacak denir. Bor\u00e7 kayd\u0131nda, bir aktif hesap artar veya pasif hesap azal\u0131r. Alacak kayd\u0131nda ise tam tersi bir pasif hesap artar veya aktif hesap azal\u0131r.<\/p>\n

Bankan\u0131n d\u00f6viz kredisi verirken yapt\u0131\u011f\u0131 kay\u0131t \u00fczerinden ilerleyelim:<\/p>\n

D\u00f6viz kredisi $100<\/strong><\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0 D\u00f6viz mevduat\u0131 $100<\/strong><\/em><\/p>\n

Bu kay\u0131tta, bankan\u0131n aktifinde d\u00f6viz kredisi $100 artt\u0131. Aktif taraf bankan\u0131n varl\u0131klar\u0131n\u0131 g\u00f6sterir. Bankan\u0131n $100 d\u00f6viz alaca\u011f\u0131 olu\u015fmu\u015f oldu. Buna kar\u015f\u0131l\u0131k banka kredi \u00e7eken m\u00fc\u015fterisinin hesab\u0131na $100 d\u00f6viz mevduat\u0131 yazd\u0131. Bu $100 daha \u00f6nce yoktu. Banka bunu ki\u015finin mevduat hesab\u0131na yazd\u0131 ve dolar bas\u0131lm\u0131\u015f oldu. Bankalar b\u00fct\u00fcn paralar\u0131 b\u00f6yle basarlar<\/a>. T\u00fcrkiye’deki banka bu muhasebe kayd\u0131 ile her para cinsinden kredi vererek, mevduat yazabilir. O paray\u0131 basm\u0131\u015f olur.<\/p>\n

Asl\u0131nda bankan\u0131n yapt\u0131\u011f\u0131 verdi\u011fi bor\u00e7 kar\u015f\u0131l\u0131\u011f\u0131nda ki\u015fiye bor\u00e7lanmak. Mevduat bankan\u0131n ki\u015fiye borcudur. Siz ayn\u0131 i\u015fi yapsan\u0131z, olduk\u00e7a anlams\u0131z olacakt\u0131r. Birisine bor\u00e7 verirken diyorsunuz ki kar\u015f\u0131l\u0131\u011f\u0131nda ben de sana bor\u00e7 veriyorum. Bankalar ayn\u0131s\u0131n\u0131 yap\u0131nca tuhaf olmuyor. \u00c7\u00fcnk\u00fc bankalar\u0131n borcuna mevduat diyoruz. \u00d6yle dememizin nedeni kanun. Bankac\u0131l\u0131k kanunu bankalara mevduat yetkisi vermi\u015f. Mevduat dedi\u011fimiz de paran\u0131n kendisi. Para arz\u0131n\u0131n \u00e7ok b\u00fcy\u00fck bir b\u00f6l\u00fcm\u00fc mevduatlardan olu\u015fur. Merkez bankas\u0131n\u0131n bast\u0131\u011f\u0131 nakit az\u0131nl\u0131kt\u0131r. Nakit ki\u015filerin ihtiya\u00e7 duydu\u011fu kadar bas\u0131l\u0131r, piyasada dola\u015f\u0131r. Aslolan mevduatt\u0131r. Mevduat, kredi verildik\u00e7e artar. Bu demek oluyor ki, para kredi ile artar.<\/p>\n

T\u00fcrkiye’de bankalar d\u00f6viz kredisi verebilirken, d\u00f6viz mevduat\u0131n\u0131n en temel kayna\u011f\u0131 bankalar\u0131n d\u00f6viz kredileriydi. 2018’de d\u00f6viz geliri olmayan firmalar\u0131n d\u00f6viz kredisi \u00e7ekmeleri yasaklan\u0131nca, d\u00f6viz kredileri d\u00fc\u015f\u00fc\u015fe ge\u00e7ti. Bundan sonra bankalar d\u00f6viz basamaz oldu. Hatta \u00f6nceden bast\u0131klar\u0131 d\u00f6vizleri de piyasadan \u00e7ektiler. Nas\u0131l m\u0131?<\/p>\n

Banka kredi verdi\u011finde d\u00f6viz mevduat\u0131 ortaya \u00e7\u0131k\u0131yorsa, krediler geri \u00f6dendi\u011finde d\u00f6viz mevduat\u0131 yok olur. Her kredi geri \u00f6demesinde kredi verildi\u011finde at\u0131lan kayd\u0131n tersi at\u0131l\u0131r:<\/p>\n

D\u00f6viz mevduat\u0131 $100<\/strong><\/em><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0 D\u00f6viz kredisi $100<\/strong><\/em><\/p>\n

Bankan\u0131n pasifindeki $100 mevduat ters kay\u0131tla kapand\u0131. Ne demi\u015ftik. \u0130lk kay\u0131ta bor\u00e7 kayd\u0131 demi\u015ftik. \u0130lk kay\u0131tta aktif hesap varsa, hesap artar, pasif hesap varsa hesap azal\u0131r. \u0130lk kay\u0131tta mevduat oldu\u011funa g\u00f6re, mevduat $100 azald\u0131. \u0130kinci kay\u0131t, alacak kayd\u0131 ve bir aktif hesap, kredi var. \u0130kinci kay\u0131tta, bir aktif hesap varsa hesap azal\u0131r dedik. Kredi de $100 azalm\u0131\u015f oldu. Kredi geri \u00f6demesi ile banka kredi ve mevduat\u0131 ayn\u0131 tutarda azaltt\u0131.<\/p>\n

Her yeni d\u00f6viz kredisi d\u00f6viz mevduat\u0131n\u0131 art\u0131r\u0131rken, her d\u00f6viz kredisi geri \u00f6demesi d\u00f6viz mevduat\u0131n\u0131 azalt\u0131yor. \u015eimdi, 2018’den g\u00fcn\u00fcm\u00fcze d\u00f6viz kredilerinin geldi\u011fi duruma bakal\u0131m.<\/p>\n

D\u00f6viz kredilerinin k\u0131s\u0131tland\u0131\u011f\u0131 2018 Nisan’\u0131nda bankac\u0131l\u0131k sekt\u00f6r\u00fc bilan\u00e7osunun aktifinde $185 milyar d\u00f6viz kredisi, $205 d\u00f6viz mevduat\u0131 var. D\u00f6viz kredisi ile bas\u0131lmayan k\u0131s\u0131m $20 milyar kadar.<\/p>\n

2023 A\u011fustosa geldi\u011fimizde, bankac\u0131l\u0131k sekt\u00f6r\u00fc bilan\u00e7osunda $127 milyar d\u00f6viz kredisi, $199 milyar d\u00f6viz mevduat\u0131 var. Aradaki fark $72 milyara \u00e7\u0131km\u0131\u015f. Asl\u0131nda fark bunun da \u00e7ok \u00fczerinde. D\u0131\u015far\u0131da $125 milyar da KKM var. Toplam fark $202 milyar\u0131 buluyor.<\/p>\n

KKM olmasayd\u0131 bankalar\u0131n $125 milyar bilan\u00e7onun pasifine d\u00f6viz mevduat\u0131 yazabilmeleri i\u00e7in ayn\u0131 tutarda aktifte d\u00f6viz varl\u0131\u011f\u0131na ihtiya\u00e7lar\u0131 olacakt\u0131. Ba\u015fka bir ifadeyle, d\u00f6viz kredileri $125 milyar ABD dolar\u0131 daha fazla olsa, KKM’ye ihtiya\u00e7 duyulmayacakt\u0131. Devletin yerinde firmalar olacakt\u0131. D\u00f6viz kuru art\u0131\u015f\u0131ndan d\u00f6viz kredisi \u00e7eken firmalar zarar edecekti. Tam da bu nedenden firmalar\u0131n d\u00f6viz kredisi \u00e7ekmeleri k\u0131s\u0131tland\u0131. D\u00f6viz geliri olmayan firmalar d\u00f6viz kredisi yasa\u011f\u0131 geldi. Bu yasak ilk bak\u0131\u015fta do\u011fru gelse de de\u011fil. D\u00f6viz kredilerini tamamen yasaklamadan da firmalar\u0131 kur riskinde korumak m\u00fcmk\u00fcn olabilirdi. D\u00f6viz geliri olmayan firmalar, gelirlerine veya \u00f6z kaynaklar\u0131na oranla belli bir tutar bor\u00e7lan\u0131rd\u0131. Bu tutardan kaynaklanan zararlar bu firmalar\u0131 bat\u0131rmazd\u0131.<\/p>\n

Sadece d\u00f6viz geliri olmayan firmalara d\u00f6viz kredisi yasa\u011f\u0131 getirmekle kalmay\u0131p, d\u00f6viz geliri olan firmalar\u0131 da adeta TL krediye y\u00f6nlendirdik. D\u00f6viz talebi bu kadar fazlayken d\u00f6viz kredilerini te\u015fvik etmek gerekirdi. Biz ise tam tersini yapt\u0131k, d\u00f6viz geliri olan firmalar\u0131nda TL kredi \u00e7ekmesini seyrettik. D\u00f6viz talebinin y\u00fcksek oldu\u011fu d\u00f6nemlerde, d\u00f6viz geliri olan firmalar d\u00f6viz kredisine y\u00f6nlendirilmeliydi.<\/p>\n

KKM, d\u00f6viz kredilerinin azalmas\u0131n\u0131n bir sonucu olarak ortaya \u00e7\u0131kt\u0131. Banka bilan\u00e7olar\u0131nda, aktifte d\u00f6viz kredileri azal\u0131nca, pasifte d\u00f6viz mevduat\u0131n\u0131n da azalmas\u0131 gerekti. KKM d\u00f6viz mevduat\u0131n\u0131 ikame ederek, bankalar\u0131n d\u00f6viz y\u00fck\u00fcml\u00fcl\u00fcklerini azaltt\u0131. Neticede, y\u00fck\u00fcml\u00fcl\u00fck devlete ge\u00e7ti. Kur art\u0131\u015flar\u0131n\u0131n maliyeti kamuya ge\u00e7ti. Biz KKM’yi destekliyoruz. Ancak, KKM tek ba\u015f\u0131na kalmamal\u0131. D\u00f6viz kredileri i\u00e7eride d\u00f6viz basman\u0131n ana arac\u0131d\u0131r. Bu ara\u00e7 tekrar devreye girmeli. D\u00f6viz kredileri cayd\u0131r\u0131lmamal\u0131, te\u015fvik edilmeli.<\/p>\n

Dolarizasyon d\u00f6viz kredileri azalt\u0131larak zay\u0131flat\u0131lmaz, bilakis g\u00fc\u00e7lenir. Banka pasifinde artan d\u00f6viz mevduat\u0131na kar\u015f\u0131l\u0131k, piyasadan TL verip d\u00f6viz sat\u0131n alacakt\u0131r. \u0130\u00e7eride b\u00f6yle bir d\u00f6viz olmad\u0131\u011f\u0131na g\u00f6re bu d\u00f6viz d\u0131\u015far\u0131dan da gelmiyorsa kurlar\u0131 art\u0131r\u0131r. Artan kur d\u00f6viz talebini ve dolarizasyonu art\u0131r\u0131r. D\u00f6vize talep varsa, o talebi kar\u015f\u0131layacak enstr\u00fcmanlara da ihtiya\u00e7 var. D\u00f6viz kredilerini k\u0131s\u0131tlamak dolarizasyonu azaltmaz, azd\u0131r\u0131r.<\/p>\n

KKM son d\u00f6nemde d\u00f6viz talebini y\u00f6netmekte nas\u0131l kullan\u0131ld\u0131ysa, d\u00f6viz kredileri de ayn\u0131 \u015fekilde kullan\u0131labilir. \u0130\u00e7eride d\u00f6viz ataklar\u0131 b\u00f6ylelikle \u00f6nlenebilir.<\/p>\n

KKM’nin i\u00e7eride kullan\u0131lma \u015feklini de ele\u015ftiriyoruz. Merkez bankalar\u0131 d\u00f6viz seviyesi hedeflemez, hedeflese de ba\u015faramaz. Yabanc\u0131, hi\u00e7bir seviyenin kal\u0131c\u0131 olmayaca\u011f\u0131n\u0131 bildi\u011fi i\u00e7in gelmez. Merkez bankalar\u0131, kur seviyesi de\u011fil, kur oynakl\u0131\u011f\u0131n\u0131 hedeflemelidir. D\u00fc\u015f\u00fck oynakl\u0131kta serbest hareket eden kur yabanc\u0131 sermayeyi de \u00e7eker. Yabanc\u0131 bilirki TL riski ald\u0131\u011f\u0131 zaman aral\u0131\u011f\u0131nda kurlarda a\u015f\u0131r\u0131 bir art\u0131\u015f olmayacak. Kur art\u0131\u015f\u0131 zamana yay\u0131lacak. Kur kaynakl\u0131 ciddi bir kay\u0131p ya\u015famayacak.<\/p>\n

KKM ve d\u00f6viz kredileri, kur oynakl\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcrmek i\u00e7in \u00e7ok iyi ara\u00e7lar. Merkez bankas\u0131, oynakl\u0131\u011f\u0131 d\u00fc\u015f\u00fcrmek i\u00e7in ani kur ataklar\u0131na kar\u015f\u0131, KKM ve d\u00f6viz kredilerini te\u015fvik eder. TL kredileri k\u0131s\u0131tlar, firmalar\u0131 d\u00f6viz kredilerine y\u00f6nlendirir. D\u00f6viz kredisi \u00e7ekildik\u00e7e d\u00f6viz arz\u0131 artar. Kur ata\u011f\u0131 yumu\u015fat\u0131lm\u0131\u015f olur.<\/p>\n

Kur ataklar\u0131 \u00fclkemizde enflasyonun da ana sebebi. Firmalar, kur ataklar\u0131 \u00e7evresinde organize olarak, fiyatlar\u0131 ayn\u0131 anda y\u00fckselttiklerinde bu i\u015ften karl\u0131 \u00e7\u0131kar. Kurlardaki art\u0131\u015f zamana yay\u0131ld\u0131\u011f\u0131nda, fiyat art\u0131\u015flar\u0131 da zamana yay\u0131l\u0131r. Bir firma fiyat art\u0131r\u0131rken di\u011feri art\u0131rmaz. M\u00fc\u015fteri fiyat art\u0131randan art\u0131rmayana kayar. Fiyat art\u0131ran\u0131n sat\u0131\u015flar\u0131 d\u00fc\u015fer, art\u0131rmayan\u0131n sat\u0131\u015flar\u0131 y\u00fckselir. Art\u0131rmayan\u0131n kar\u0131 maliyet art\u0131\u015f\u0131na ra\u011fmen y\u00fckseldiyse, art\u0131rmayan fiyat art\u0131rmamaya devam eder. Art\u0131ran\u0131n kar\u0131, fiyat art\u0131\u015f\u0131na ra\u011fmen d\u00fc\u015ft\u00fcyse, art\u0131ran fiyat art\u0131\u015f\u0131n\u0131 geri al\u0131r. T\u00fcm firmalar ayn\u0131 anda fiyat art\u0131rd\u0131\u011f\u0131nda hi\u00e7bir firma kaybetmez. M\u00fc\u015fterinin ka\u00e7abilece\u011fi bir yer kalmam\u0131\u015ft\u0131r. Ani kur ataklar\u0131, firmalar\u0131n ayn\u0131 anda fiyat art\u0131rmalar\u0131na imkan verir. Merkez bankas\u0131, KKM ve d\u00f6viz kredilerini kullanarak, ani kur ataklar\u0131n\u0131 y\u00f6netebilir hale geldi\u011finde, kurdan enflasyona ge\u00e7i\u015fler de zay\u0131flar.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u0130lgin\u00e7 bir bi\u00e7imde d\u00fcnya \u00fczerindeki her banka d\u00f6viz basma faaliyeti yapabilir, T\u00fcrkiye’deki bankalarda bunu yapabilir demi\u015ftik. Bas\u0131lan d\u00f6vizin ad\u0131 d\u00f6viz mevduat\u0131d\u0131r. Bankalar her kredi verdiklerinde ortaya yeni d\u00f6viz mevduat\u0131 \u00e7\u0131kar. D\u00f6viz kredileri \u00fczerindeki k\u0131s\u0131tlar T\u00fcrkiye’de bankalar\u0131n d\u00f6viz basmalar\u0131n\u0131 engelledi. KKM bu s\u00fcrecin devam\u0131nda bir ihtiya\u00e7 olarak ortaya \u00e7\u0131kt\u0131. D\u00f6viz kredilerinden a\u00e7\u0131lan bo\u015flu\u011fu doldurdu. Muhasebe kay\u0131tlar\u0131<\/p>\n","protected":false},"author":2,"featured_media":4754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,47],"tags":[273,411,232],"class_list":{"0":"post-4753","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-jeoekonomik-makro-veriler","8":"category-makro-ekonomik-analizler","9":"tag-bankacilik-sistemi","10":"tag-doviz-rezervleri","11":"tag-turkiye-ekonomisi"},"better_featured_image":{"id":4754,"alt_text":"D\u00f6viz Kredileri Nas\u0131l \u00c7al\u0131\u015f\u0131r","caption":"","description":"","media_type":"image","media_details":{"width":1380,"height":776,"file":"2023\/08\/Doviz-Kredileri.jpg","filesize":324914,"sizes":{"medium":{"file":"Doviz-Kredileri-300x169.jpg","width":300,"height":169,"mime-type":"image\/jpeg","filesize":8507,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-300x169.jpg"},"large":{"file":"Doviz-Kredileri-1024x576.jpg","width":1024,"height":576,"mime-type":"image\/jpeg","filesize":59767,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-1024x576.jpg"},"thumbnail":{"file":"Doviz-Kredileri-150x150.jpg","width":150,"height":150,"mime-type":"image\/jpeg","filesize":4327,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-150x150.jpg"},"medium_large":{"file":"Doviz-Kredileri-768x432.jpg","width":768,"height":432,"mime-type":"image\/jpeg","filesize":39472,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-768x432.jpg"},"bunyad-small":{"file":"Doviz-Kredileri-150x84.jpg","width":150,"height":84,"mime-type":"image\/jpeg","filesize":2732,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-150x84.jpg"},"bunyad-medium":{"file":"Doviz-Kredileri-450x253.jpg","width":450,"height":253,"mime-type":"image\/jpeg","filesize":16854,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-450x253.jpg"},"bunyad-full":{"file":"Doviz-Kredileri-1200x675.jpg","width":1200,"height":675,"mime-type":"image\/jpeg","filesize":75154,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-1200x675.jpg"},"bunyad-768":{"file":"Doviz-Kredileri-768x432.jpg","width":768,"height":432,"mime-type":"image\/jpeg","filesize":39472,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri-768x432.jpg"}},"image_meta":{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0","keywords":[]}},"post":4753,"source_url":"https:\/\/datakapital.com\/blog\/wp-content\/uploads\/2023\/08\/Doviz-Kredileri.jpg"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/comments?post=4753"}],"version-history":[{"count":3,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4753\/revisions"}],"predecessor-version":[{"id":5034,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/posts\/4753\/revisions\/5034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media\/4754"}],"wp:attachment":[{"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/media?parent=4753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/categories?post=4753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/datakapital.com\/blog\/wp-json\/wp\/v2\/tags?post=4753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}