{"id":56169,"date":"2018-10-08T20:29:12","date_gmt":"2018-10-08T17:29:12","guid":{"rendered":"https:\/\/www.bilgeyatirimci.com\/?p=56169"},"modified":"2018-10-08T20:29:12","modified_gmt":"2018-10-08T17:29:12","slug":"cetin-unsalan-vadelendirme-degil-yapilandirma","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/cetin-unsalan-vadelendirme-degil-yapilandirma\/","title":{"rendered":"\u00c7etin \u00dcnsalan &#8211; Vadelendirme de\u011fil yap\u0131land\u0131rma"},"content":{"rendered":"<p><em><strong>Reel sekt\u00f6r\u00fcn finans kesimine olan bor\u00e7lar\u0131 i\u00e7in yeni bir uygulama g\u00fcndeme geldi. Bankac\u0131l\u0131\u011f\u0131n en \u00fcst temsilcisi T\u00fcrkiye Bankalar Birli\u011fi Ba\u015fkan\u0131 H\u00fcseyin Ayd\u0131n, vadelendirme olarak nitelendirdi\u011fi sistemi anlatt\u0131. Ben bu yakla\u015f\u0131m\u0131n ka\u00e7\u0131n\u0131lmaz oldu\u011funu uzun zamandan beri dile getiriyorum.<\/strong><\/em><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2532993541\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Reel sekt\u00f6rde k\u0131r\u0131lan \u00f6demeler zinciri ve bunun bankalara sirayet etmesi, T\u00fcrkiye ekonomisi a\u00e7\u0131s\u0131ndan gerek yurti\u00e7inde, gerekse yurtd\u0131\u015f\u0131nda k\u0131r\u0131lganl\u0131k \u00f6zelli\u011fini besleyen en \u00f6nemli fakt\u00f6r olarak \u00f6ne \u00e7\u0131k\u0131yor. Bu nedenle konkordatolar\u0131n konu\u015fuldu\u011fu bu s\u00fcre\u00e7te, b\u00f6ylesi bir yakla\u015f\u0131m\u0131n hayati oldu\u011fu inanc\u0131nday\u0131m.<\/p>\n<p>Fakat bazen \u00f6nemsiz gibi g\u00f6z\u00fckse de baz\u0131 vurgular\u0131n, i\u015fin i\u00e7eri\u011fini yanl\u0131\u015f noktalara g\u00f6t\u00fcrmesi bak\u0131m\u0131ndan anlam ta\u015f\u0131d\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyorum. Bu s\u00fcre\u00e7te meseleye vadelendirme diye bakarsan\u0131z, sorunu a\u015famad\u0131\u011f\u0131n\u0131z gibi yeni \u00f6denemez bor\u00e7lar yarat\u0131rs\u0131n\u0131z.<\/p>\n<p>Bu konuya mevcut bir borcu, yeni faiz oranlar\u0131nda vade vererek yaymak ve bor\u00e7 y\u00fck\u00fcn\u00fc biraz daha artt\u0131rmak noktas\u0131nda bir yakla\u015f\u0131m, \u015f\u00fcpheli alacak miktar\u0131n\u0131 y\u00fckseltmekten ba\u015fka bir i\u015fe yaramaz.<\/p>\n<p>Bu nedenle ihtiyac\u0131n vadelendirme de\u011fil, yap\u0131land\u0131rma oldu\u011funun alt\u0131n\u0131 kal\u0131n harflerle \u00e7izmemiz gerekiyor. Yani ortada bir \u00f6deme problemi oldu\u011funu kabul ederek ve baz\u0131 faiz alacaklar\u0131ndan fedak\u00e2rl\u0131k yaparak, ortadaki rakam\u0131n \u00f6denebilir ve her iki tarafa da zarar vermeden kapat\u0131labilir k\u0131l\u0131nmas\u0131 hedeflenmelidir.<\/p>\n<p>Aksi takdirde nal\u0131nc\u0131 keseri gibi yakla\u015f\u0131mlar, o an i\u00e7in borcu \u00f6telenen firmaya ho\u015f gelse de, k\u0131sa s\u00fcre sonra, daha \u00f6denemez bor\u00e7lar\u0131n alt\u0131na girdi\u011fi ger\u00e7e\u011fini fark ettirir. Bu durumda da ka\u015f yapay\u0131m derken g\u00f6z \u00e7\u0131karm\u0131\u015f olursunuz.<\/p>\n<p>T\u00fcrk reel sekt\u00f6r\u00fcn\u00fcn ve finansman kulland\u0131\u011f\u0131 bankac\u0131l\u0131k sekt\u00f6r\u00fcn\u00fcn bir uzla\u015f\u0131s\u0131ndan bahsetmeliyiz. Vadelendirme ibaresi bu ihtiyac\u0131 kar\u015f\u0131lam\u0131yor. Aksine yine sorunlu alacaklar\u0131 azalt\u0131p, daha k\u00e2rl\u0131 bir kredilendirmeyi k\u00e2\u011f\u0131t \u00fczerinde ortaya koyaca\u011f\u0131ndan, yine yan\u0131lt\u0131c\u0131 bir resmin par\u00e7as\u0131 olur, ama problemi ortadan kald\u0131ramay\u0131z.<\/p>\n<p>Ekonomi y\u00f6netiminin burada devreye girerek, \u015f\u00fcpheli alacak riskini azaltmay\u0131 hedefleyecek bankalarla, \u00f6demesini yapmaya niyetli olan firmalar\u0131 orta noktada bulu\u015fturacak form\u00fcllerin \u00fczerinde durmas\u0131 gerekir.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3542191496\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Ayr\u0131ca meseleyi sadece banka \u2013 firma ili\u015fkisi i\u00e7inde ele almamal\u0131y\u0131z. Bankalara olan bor\u00e7lardan \u00e7ok, vadeleri 24 aya vurmu\u015f reel sekt\u00f6r\u00fcn firmalar aras\u0131 i\u00e7 bor\u00e7lanmas\u0131 var. Burada da \u00f6nemli oranda \u00f6demeler dengesinin k\u0131r\u0131ld\u0131\u011f\u0131 g\u00f6zleniyor.<\/p>\n<p>H\u00fck\u00fcmetin de gereksiz te\u015fvikler sa\u00e7mak yerine, burada devreye girip, piyasay\u0131 s\u00fcbvanse ederek vadeleri k\u0131saltacak metotlar\u0131n \u00fczerinde durmas\u0131 gerekir. Bu hem reel piyasalarda bir rahatlama yaratacak, hem i\u00e7te t\u0131kanmay\u0131 a\u015facak; hem de d\u00fc\u015fen vadeler ve ba\u011flant\u0131l\u0131 olarak fiyatlarla enflasyonla m\u00fccadeleye de destek verecektir.<\/p>\n<p>\u015eayet meseleleri bu a\u00e7\u0131dan konu\u015fmaz ve sadece sloganlar \u00fczerinden, e\u015f dost al\u0131\u015fveri\u015fte g\u00f6rs\u00fcn noktas\u0131nda ele al\u0131rsak, bir tarafta sorunu hafifletme f\u0131rsat\u0131n\u0131 teperken, \u00f6te tarafta daha kronikle\u015fmi\u015f ve a\u011f\u0131rla\u015fm\u0131\u015f bir sorunumuz olaca\u011f\u0131n\u0131n haberini \u015fimdiden vermek isterim.<\/p>\n<p>S\u00f6z\u00fcn \u00f6z\u00fc i\u015fin ba\u015f\u0131nda terimleri do\u011fru kullanal\u0131m. Vadelendirme de\u011fil, yap\u0131land\u0131rma diye konu\u015farak ba\u015flayal\u0131m. Aksi takdirde sonu\u00e7lar umulan\u0131n \u00e7ok \u00f6tesinde dramlara ortam haz\u0131rlar.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3341651198\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><a href=\"mailto:cetinunsalan@yahoo.com\">cetinunsalan@yahoo.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reel sekt\u00f6r\u00fcn finans kesimine olan bor\u00e7lar\u0131 i\u00e7in yeni bir uygulama g\u00fcndeme geldi. Bankac\u0131l\u0131\u011f\u0131n en \u00fcst temsilcisi T\u00fcrkiye Bankalar Birli\u011fi Ba\u015fkan\u0131 H\u00fcseyin Ayd\u0131n, vadelendirme olarak nitelendirdi\u011fi&hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[904,808,801],"class_list":["post-56169","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-cetin-unsalan-yazilari","tag-ekonomi-makaleleri","tag-ekonomi-yazarlari-listesi"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/56169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=56169"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/56169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=56169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=56169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=56169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}