Research Article
BibTex RIS Cite

Managing and Reporting Liquidity Risks: Silicon Valley Bank Case

Year 2023, , 67 - 89, 29.08.2023

Gürol Baloğlu , Kaan Ramazan Çakalı , Nazan Güngör Karyağdı , Kadir Gökoğlan

https://doi.org/10.26650/MED.1301779

Abstract

Liquidity problems are one of the most important causes of business failures. This risk can appear related to the funding structures and asset quality of the enterprises. In an enterprise operating in the banking sector, liquidity problems have the potential to contaminate the financial system and create social impacts, since funding is mainly composed of deposits. Therefore, liquidity risk in banking is among the risks that are closely monitored. The recent Silicon Valley Bank collapse offers important lessons for analyzing liquidity risks. In this study, the Silicon Valley Bank failure is analyzed as a case study. As changes in macroeconomic policies have an impact on the liquidity of the markets, it becomes important to monitor liquidity risks. In general, the liquidity risks in the banking system are followed with the ratios calculated over the scenarios, while the Silicon Valley Bank case in the USA showed that regulatory agencies do not use this monitoring mechanism for banks below a certain size. On the other hand, the weaknesses arising from financial reporting standards in reporting the asset quality, combined with this lack of monitoring, caused difficulties in monitoring liquidity risks for financial statement users. As a result, the demand for cash created by depositors in the banking sector caused the bankruptcy of Silicon Valley Bank. Lessons learned from this case can guide the active management of liquidity risks.

Keywords

Corporate Failures Liquidity Risk Liquidity Risk Management Silicon Valley Bank

References

  • Adrian, T. & Natalucci, F. M. (2022). This Chart Shows How Central Bank Interest Rates Have Changed. https://www.weforum.org/ agenda/2022/08/central-banks-hike-interest-rates-inflation-pressures/ (Access Date: 19.04.2023) google scholar
  • Alois, J. D. (2023). S&P Outlines Banks by Percentage of Uninsured Deposits. https://www. crowdfundinsider.com/2023/03/203681-sp-outlines-banks-by-percentage-of-uninsured-deposits/ (Access Date: 03.05.2023) google scholar
  • Azmi, W., Anwer, Z., Azmi, S. and Nobanee, H. (2023). On the Impact of Silicon Valley Bank Failure: Evidence on the Reaction of Major Global Asset Classes. Available at SSRN: https://ssrn.com/abstract=4410761 or http://dx.doi.org/10.2139/ssrn.4410761 google scholar
  • Babuşçu, Ş. (2005). Basel II Düzenlemeleri Çerçevesinde Bankalarda Risk Yönetimi. Akademi Yayınları, Ankara. google scholar
  • Bankacılık Düzenleme ve Denetleme Kurumu (2011). Uluslararası Kuruluşların Çalışmaları. Risk Bülteni, Sayı: 11, Ankara. google scholar
  • Barrett, P. (2022). How Food and Energy are Driving the Global Inflation Surge. https://www.imf.org/en/Blogs/Articles/2022/09/09/ cotw-how-food-and-energy-are-driving-the-global-inflation-surge (Access Date: 17.04.2023) google scholar
  • BCBS (2008). Principles for Sound Liquidity Risk Management and Supervision. https://www.bis.org/publ/bcbs188.pdf. (Access Date: 25.04.2023). google scholar
  • BCBS (2010). Basel III: International Framework for Liquidity Risk Measurement, Standards and Monitoring. https://www.bis.org/publ/ bcbs188.pdf. (Access Date: 23.04.2023). google scholar
  • BDDK (2014). Bankaların Likidite Karşılama Oranı Hesaplamasına İlişkin Yönetmelik. Sayı: 28948. google scholar
  • Bech, M., & Keister, T. (2012). On the Liquidity Coverage Ratio and Monetary Policy Implementation. BIS Quarterly Review, December 2012, 49-61. google scholar
  • BIS (2014). Basel III: The Net Stable Funding Ratio. BIS publication, October 2014. google scholar
  • Board of Governors of the Federal Reserve System. (2023). Review of the Federal Reserve’s supervision and regulation of Silicon Valley Bank. https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf (Access Date: 07.05.2023) google scholar
  • California Department of Financial Protection and Innovation & Federal Reserve Bank of San Francisco. (2022). Internal Audit Target Supervisory Letter. https://www.federalreserve.gov/supervisionreg/files/svbfg-and-svb-internal-audit-target-supervisory-letter-20221227.pdf (Access Date: 03.05.2023) google scholar
  • Castagna, A. & Fede, F., (2013), Measuring and Managing Liquidity Risk. John Wiley & Sons. google scholar
  • Cihangir, M. (2005). Finansal Krizlerin Banka Birleşmelerine Etkileri: Kasım 2000 ve Şubat 2001 Krizleri Çerçevesinde Kronolojik Bir google scholar
  • Yaklaşım. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 19(1), 99-116. google scholar
  • Demir, V. (2015). TFRS/UFRS Kapsamında Finansal Araçlar, (Geliştirilmiş İkinci Basım). İstanbul: Nobel Yayınları. google scholar
  • Diamond, D. & Dybvig, P. (1983). Bank Runs, Deposit Insurance, and Liquidity. Journal of Political Economy, University of Chicago Press, 91(3), 401-419. google scholar
  • Diamond, D. & Rajan, R. (2001). Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking, Journal of Political Economy, 109(2), 287-327. google scholar
  • Diamond, D. (1991). Debt Maturity Structure and Liquidity Risk. The Quarterly Journal of 'Economics, 106(3), 709-737. google scholar
  • Dukakis, A. (2023). SVB Execs Sold Millions of Their Company Stock in Lead up to Collapse, Federal Disclosures Show. https:// abcnews.go.com/Business/svb-execs-sold-millions-company-stock-lead-collapse/story?id= 97937058. (Access Date: 02.05.2023) google scholar
  • Dutta, A., Voumik, L.C, Kumarasankaralingam, L., Rahaman, A. and Zimon, G. (2023). The Silicon Valley Bank Failure: Application of Benford’s Law to Spot Abnormalities and Risks. Risks 11: 120. https://doi.org/10.3390/ risks11070120 google scholar
  • Güzel, A. (2022). Faiz Oranları ve Döviz Kurlarındaki Değişimlerin Bankaların Performansına Etkisi: Sistematik Yaklaşım ve Duyarlılık Analizini de İçeren Stres Testi Model Uygulaması. Üçüncü Sektör Sosyal Ekonomi Dergisi, 57(1), 586-611. google scholar
  • Haslem, John A.(1982).Bank Portfolio Management .Donald R. Fraser and Peter S. Rose, eds., Financial Institutions and Markets in a Changing World, 2nd ed., pp. 37-46, Plano, TX: Business Publications. google scholar
  • Hauf, P. and Posth, J-A. (2023). Silicon Valley Bank - (Why) Did Regulation And Risk Management Fail To Uncover Substantial Risks? SSRN: https://ssrn.com/abstract=4411102 or http://dx.doi.org/10.2139/ssrn.4411102 google scholar
  • Heider, F., Krahnen, J.P., Pelizzon, L., Schlegel, J. and Tröger, T. (2023). European lessons from Silicon Valley Bank resolution: A plea for a comprehensive demand deposit protection scheme (CDDPS), SAFE Policy Letter, No. 98, Leibniz Institute for Financial Research SAFE, Frankfurt a. M., https://nbn-resolving.de/urn:nbn:de:hebis:30:3-640587bankrun.asp (Access Date_ 19.04.2023) google scholar
  • İslamoğlu, M. (2002). Türev Ürünlerden Forward Sözleşmeler; Forward Sözleşmelerinin Tdhp’na Göre Muhasebeleştirilmesi. Yayınlanmamış yüksek lisans tezi, İstanbul Üniversitesi, İstanbul google scholar
  • İşseveroğlu, G. (2014). TMS 39 Kapsamında Finansal Varlıkların Sınıflandırılması ve Değerlemesi: Borsa İstanbul 100 Endeksindeki Şirketlerin Uygulamaları. Uluslararası Yönetim İktisat ve İşletme Dergisi, 10(21), 87-106. google scholar
  • Jean-Loup, S. (2017). Measuring Heterogeneity in Bank Liquidity Risk: Who are the Winners and Losers? The Quarterly Review of Economics and Finance, 66, 302-313. google scholar
  • Kang-Landsberg, A. & Plosser, M. (2022). How do Deposit Rates Respond to Monetary Policy? https://libertystreeteconomics. newyorkfed.org/2022/11/how-do-deposit-rates-respond-to-monetary-policy/ (Access Date: 01.05.2023) google scholar
  • Kim, R. (2023). Interest Rate Hedging and Silicon Valley Bank Idiosyncrasies. SSRN: https://ssrn.com/abstract=4413099 or http:// dx.doi.org/10.2139/ssrn.4413099 google scholar
  • Lieugaut, A. (2023). Bi-weekly Data Additions. https://www.macrobond.com/news-posts/bi-weekly-data-additions-15 (Access Date: 02.05.2023) google scholar
  • Litan, R., Lowy, M. & White, L. J. (2023). Bank Bosses are Hiding $600 billion in Unrealized Losses to Keep Their Mega Bonuses. google scholar
  • Here’s Why Portfolio Securities Should be Marked to Market. https://fortune.com/2023/04/14/bank-bosses-unrealized-losses-mega-bonus-portfolio-securities-marked-to-market-finance-litan-lowy-white/ (Access Date: 01.05.2023) google scholar
  • Meyer, K. and Olert, J. (2023). Silicon Valley Bank Collapse: Lessons for Boards: Board members with risk management experience are important but a company also needs a chief risk officer. Directors & Boards, 47(3), pp. 36+ Gale Academic OneFile, link.gale.com/apps/ doc/ A749396577/AONE?u=anon~9ced53d5&sid=googleScholar&xid=574cebc4. google scholar
  • Mirza, A. A., Holt, G. J. & Orrell, M. (2006). International Financial Reporting Standards (IFRS) Workbook and Guide. New Jersey: John Wiley & Sons. google scholar
  • Our World in Data. https://ourworldindata.org/explorers/coronavirus-data-explorer?zoomToSelection=true&time=2020-03-01.. latest&uniformYAxis=0&country=~USA&pickerSort =asc&pickerMetric=location&Interval=7-day+rolling+average&Relative+to+P opulation=true&Color+by+test+ positivity=false&Metric=Cases+and+deaths (Retrieved from: 01.05.2023) google scholar
  • Richter, F. (2023). The Fed is Moving Historically Fast to Tame Inflation. https://www.statista.com/chart/28437/interest-rate-hikes-in-past-tightening-cycles/ (Access Date: 01.05.2023) google scholar
  • Son, H. (2023). SVB Customers Tried to Withdraw Nearly All the Bank’s Deposits Over Two Days, Fed’s Barr Testifies. https://www. cnbc.com/2023/03/28/svb-customers-tried-to-pull-nearly-all-deposits-in-two-days-barr-says.html (Access Date: 03.05.2023) google scholar
  • SVB. (2023-1). SVB Financial Group Annual Report for the Fiscal Year Ended December 31, 2022. https://d18rn0p25nwr6d.cloudfront. net/CIK-0000719739/f36fc4d7-9459-41d7-9e3d-2c468971b386.pdf (Access Date: 02.05.2023) google scholar
  • SVB. (2023-2). SVB Financial Group Announces Proposed Offerings of Common Stock and Mandatory Convertible Preferred Stock. https://ir.svb.com/news-and-research/news/news-details/2023/SVB-Financial-Group-Announces-Proposed-Offerings-of-Common-Stock-and-Mandatory-Convertible-Preferred-Stock/default.aspx (Access Date: 01.05.2023) google scholar
  • Şakar, H. (2002). Risk Yönetimi Açısından Bankalarda Aktif-Pasif Yönetimi. Mida Institute Bankacılık Eğitim Dizisi. google scholar
  • Tekeli, İ. & İlkin,S. (1997). Türkiye Cumhuriyeti Merkez Bankası Para ve Kredi Sisteminin Oluşumunda Bir Aşama. Ankara: İletişim Yayıncılık. google scholar
  • Terim A. (2013). Basel III Uzlaşısı Kapsamında Bankalarda Likidite Riski Yönetimi ve Türk Bankacılık Sektörü Üzerindeki Yansımaları. Yayımlanmış Yüksek Lisans Tezi, İstanbul Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul. google scholar
  • TFRS/ UFRS 9. Finansal Araçlar Standardı. https://www.kgk.gov.tr/Portalv2Uploads/files/Dynamic ContentFiles/T%C3%BCrkiye%20 Muhasebe%20Standartlar%C4%B1/TMSTFRS2019Seti/TFR/TFRS_9. pdf. (Access Date: 06.05.2023) google scholar
  • TMS 1. Finansal Tabloların Sunuluşu. https://kgk.gov.tr/Portalv2Uploads/files/Duyurular/v2/TMS/TMS_1_Finansal%20Tabloların%20 Sunuluşu.pdf. (Access Date: 04.05.2023) google scholar
  • TMS 39. Finansal Araçlar: Muhasebeleştirme ve Ölçme. https://www.kgk.gov.tr/Portalv2Uploads/files/ DynamicContentFiles/ T%C3%BCrkiye%20Muhasebe%20Standartlar%C4%B1/TMSTFRS2018Seti/TMS/TMS_39_2018.pdf. (Access Date: 04.05.2023) google scholar
  • Toves, A. L. (1983). Gap Management: Managing Interest Rate Risk in Banks and Thrifts. Economic Review, Federal Reserve Bank of San Francisco, 8, 20-35. google scholar
  • Trading Economics. https://tradingeconomics.com/united-states/money-supply-m2 (Access Date: 03.05.2023) google scholar
  • Türkiye Cumhuriyet Merkez Bankası (2010). Finansal İstikrar Raporu (11). https://www.tcmb.gov.tr/wps/wcm/ connect/TR/TCMB+TR/ Main+Menu/Yayinlar/Raporlar/Finansal+Istikrar+Raporu/2010/Sayi+11 (Access Date: 19.04.2023). google scholar
  • Türküner, E. (2016). Basel III Likidite Düzenlemeleri Çerçevesinde Türk Bankacılık Sektörünün Likidite Riskinin Ölçülmesi ve Modellemesi. Türkiye Bankalar Birliği, İstanbul. google scholar
  • Uçar, D. & Köksal, M.O. (2019). Tasarruf Mevduatı Sigorta Sisteminin Görünümü ve Bankacılık Sektöründeki Son Durum. Journal of Economics and Financial Researches,1(2), 75-91. google scholar
  • Vo, L. Van. and Le, H. T. T., (2023). From Hero to Zero - The Case of Silicon Valley Bank. SSRN: https://ssrn.com/abstract=4394553 or http:// dx.doi.org/10.2139/ssrn.4394553 google scholar
  • Vuillemey, G. (2017). Bank Interest Rate Risk Management. https://ssrn.com/abstract=2644681. (Access Date: 29.04.2023). google scholar
  • Vuillemey, G. (2023). From the Saving Glut to Financial Instability: Evidence from the Silicon Valley Bank Failure. SSRN: https://ssrn. com/abstract=4413287 or http://dx.doi.org/10.2139/ssrn.4413287 google scholar
  • Yadav, M. P., Rao, A., Abedin, M.Z., Tabassum S. and Lucey B. (2023). The domino effect: Analyzing the impact of Silicon Valley Bank’s fall on top equity indices around the World. Finance Research Letters, 55(2023)-103952, pp: 1-5, https://doi.org/10.1016/j. frl.2023.103952 google scholar
  • Yalçınkaya, J. & Ekinci, A. (2007). Bankalarda Faiz Riskinin Ölçülmesi: GAP Analizi. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 8(1), 1-23. google scholar
  • Yavuz, S. T. (2002). Risk Yönetimi “İçeri” Aktif Pasif Yönetimi “Dışarı” (mı?). Bankacılar Dergisi, 13(41), 21-31. google scholar
  • Yenigün, G. (2016). Basel III Kriterleri Kapsamında Bankalarda Likidite Riski Yönetimi ve Türk Bankacılık Sektörüne Yansımaları. Yayımlanmış Yüksek Lisans Tezi. Beykent Üniversitesi Sosyal Bilimler Enstitüsü. İstanbul. google scholar
  • Zaghdoudi, K. & Hâkimi, A. (2017). The Determinants of Liquidity Risk: Evidence from Tunisian Banks. Journal of Applied Finance and Banking, 7(2), 71-81. google scholar
  • Zengin, S., & Yüksel, S. (2016). Likidite Riskini Etkileyen Faktörler: Türk Bankacılık Sektörü Üzerine Bir İnceleme. İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, 29(2), 77-95. google scholar
  • Zhaohua H. (2023). Analysis of Silicon Valley Bank Bankruptcy from the Perspective of Risk Management. Financial Engineering and Risk Management 2023(6): 75-80. DOI: http://dx.doi.org/10.23977/ferm.2023.060311. google scholar

Likidite Risklerinin Yönetimi ve Raporlanması: Silikon Vadisi Bankası Örneği

Year 2023, , 67 - 89, 29.08.2023

Gürol Baloğlu , Kaan Ramazan Çakalı , Nazan Güngör Karyağdı , Kadir Gökoğlan

https://doi.org/10.26650/MED.1301779

Abstract

Likidite sorunları, işletme başarısızlıklarının en önemli nedenlerindendir. Bu risk işletmelerin fonlama yapıları ve aktif kaliteleri ile ilişkili olarak ortaya çıkabilmektedir. Bankacılık sektöründe faaliyet gösteren bir işletmede, fonlamanın ağırlıklı olarak mevduattan oluşması nedeniyle likidite sorunlarının finansal sisteme bulaşma ve toplumsal etkiler yaratma potansiyeli mevcuttur. Bu nedenle bankacılıkta likidite riski yakından takip edilen riskler arasındadır. Yakın zamanda yaşanan Silikon Vadisi Bankası çöküşü, likidite risklerinin analizi açısından önemli dersler sunmaktadır. Bu çalışmada Silikon Vadisi Bankası başarısızlığı bir vaka analizi olarak ele alınmıştır. Makroekonomik politikalardaki değişiklikler piyasaların likiditesi üzerinde etki sahibi oldukça likidite risklerinin takibi önem kazanmaktadır. Genel olarak bankacılık sisteminde likidite riskleri senaryolar üzerinden hesaplanan oranlarla takip edilirken Silikon Vadisi Bankası vakası A.B.D. düzenleyici kuruluşlarının belirli bir büyüklüğün altındaki bankalar için bu takip mekanizmasını kullanmadığını göstermiştir. Diğer taraftan, aktif kalitesinin raporlanmasında finansal raporlama standartlarından kaynaklanan zafiyetler bu takip eksikliği ile birleşince finansal tablo kullanıcıları için likidite risklerinin takibinde güçlüklere sebep olmuştur. Neticede bankacılık sektöründe mevduat sahiplerinin yaratmış olduğu nakit talebi Silikon Vadisi Bankası’nın batışına neden olmuştur. Bu vakadan elde edilen dersler likidite risklerinin aktif bir şekilde yönetimi için yol gösterici olabilir.

Keywords

Kurumsal Çöküşler Likidite Riski Likidite Riski Yönetimi Silikon Vadisi Bankası

References

  • Adrian, T. & Natalucci, F. M. (2022). This Chart Shows How Central Bank Interest Rates Have Changed. https://www.weforum.org/ agenda/2022/08/central-banks-hike-interest-rates-inflation-pressures/ (Access Date: 19.04.2023) google scholar
  • Alois, J. D. (2023). S&P Outlines Banks by Percentage of Uninsured Deposits. https://www. crowdfundinsider.com/2023/03/203681-sp-outlines-banks-by-percentage-of-uninsured-deposits/ (Access Date: 03.05.2023) google scholar
  • Azmi, W., Anwer, Z., Azmi, S. and Nobanee, H. (2023). On the Impact of Silicon Valley Bank Failure: Evidence on the Reaction of Major Global Asset Classes. Available at SSRN: https://ssrn.com/abstract=4410761 or http://dx.doi.org/10.2139/ssrn.4410761 google scholar
  • Babuşçu, Ş. (2005). Basel II Düzenlemeleri Çerçevesinde Bankalarda Risk Yönetimi. Akademi Yayınları, Ankara. google scholar
  • Bankacılık Düzenleme ve Denetleme Kurumu (2011). Uluslararası Kuruluşların Çalışmaları. Risk Bülteni, Sayı: 11, Ankara. google scholar
  • Barrett, P. (2022). How Food and Energy are Driving the Global Inflation Surge. https://www.imf.org/en/Blogs/Articles/2022/09/09/ cotw-how-food-and-energy-are-driving-the-global-inflation-surge (Access Date: 17.04.2023) google scholar
  • BCBS (2008). Principles for Sound Liquidity Risk Management and Supervision. https://www.bis.org/publ/bcbs188.pdf. (Access Date: 25.04.2023). google scholar
  • BCBS (2010). Basel III: International Framework for Liquidity Risk Measurement, Standards and Monitoring. https://www.bis.org/publ/ bcbs188.pdf. (Access Date: 23.04.2023). google scholar
  • BDDK (2014). Bankaların Likidite Karşılama Oranı Hesaplamasına İlişkin Yönetmelik. Sayı: 28948. google scholar
  • Bech, M., & Keister, T. (2012). On the Liquidity Coverage Ratio and Monetary Policy Implementation. BIS Quarterly Review, December 2012, 49-61. google scholar
  • BIS (2014). Basel III: The Net Stable Funding Ratio. BIS publication, October 2014. google scholar
  • Board of Governors of the Federal Reserve System. (2023). Review of the Federal Reserve’s supervision and regulation of Silicon Valley Bank. https://www.federalreserve.gov/publications/files/svb-review-20230428.pdf (Access Date: 07.05.2023) google scholar
  • California Department of Financial Protection and Innovation & Federal Reserve Bank of San Francisco. (2022). Internal Audit Target Supervisory Letter. https://www.federalreserve.gov/supervisionreg/files/svbfg-and-svb-internal-audit-target-supervisory-letter-20221227.pdf (Access Date: 03.05.2023) google scholar
  • Castagna, A. & Fede, F., (2013), Measuring and Managing Liquidity Risk. John Wiley & Sons. google scholar
  • Cihangir, M. (2005). Finansal Krizlerin Banka Birleşmelerine Etkileri: Kasım 2000 ve Şubat 2001 Krizleri Çerçevesinde Kronolojik Bir google scholar
  • Yaklaşım. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 19(1), 99-116. google scholar
  • Demir, V. (2015). TFRS/UFRS Kapsamında Finansal Araçlar, (Geliştirilmiş İkinci Basım). İstanbul: Nobel Yayınları. google scholar
  • Diamond, D. & Dybvig, P. (1983). Bank Runs, Deposit Insurance, and Liquidity. Journal of Political Economy, University of Chicago Press, 91(3), 401-419. google scholar
  • Diamond, D. & Rajan, R. (2001). Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking, Journal of Political Economy, 109(2), 287-327. google scholar
  • Diamond, D. (1991). Debt Maturity Structure and Liquidity Risk. The Quarterly Journal of 'Economics, 106(3), 709-737. google scholar
  • Dukakis, A. (2023). SVB Execs Sold Millions of Their Company Stock in Lead up to Collapse, Federal Disclosures Show. https:// abcnews.go.com/Business/svb-execs-sold-millions-company-stock-lead-collapse/story?id= 97937058. (Access Date: 02.05.2023) google scholar
  • Dutta, A., Voumik, L.C, Kumarasankaralingam, L., Rahaman, A. and Zimon, G. (2023). The Silicon Valley Bank Failure: Application of Benford’s Law to Spot Abnormalities and Risks. Risks 11: 120. https://doi.org/10.3390/ risks11070120 google scholar
  • Güzel, A. (2022). Faiz Oranları ve Döviz Kurlarındaki Değişimlerin Bankaların Performansına Etkisi: Sistematik Yaklaşım ve Duyarlılık Analizini de İçeren Stres Testi Model Uygulaması. Üçüncü Sektör Sosyal Ekonomi Dergisi, 57(1), 586-611. google scholar
  • Haslem, John A.(1982).Bank Portfolio Management .Donald R. Fraser and Peter S. Rose, eds., Financial Institutions and Markets in a Changing World, 2nd ed., pp. 37-46, Plano, TX: Business Publications. google scholar
  • Hauf, P. and Posth, J-A. (2023). Silicon Valley Bank - (Why) Did Regulation And Risk Management Fail To Uncover Substantial Risks? SSRN: https://ssrn.com/abstract=4411102 or http://dx.doi.org/10.2139/ssrn.4411102 google scholar
  • Heider, F., Krahnen, J.P., Pelizzon, L., Schlegel, J. and Tröger, T. (2023). European lessons from Silicon Valley Bank resolution: A plea for a comprehensive demand deposit protection scheme (CDDPS), SAFE Policy Letter, No. 98, Leibniz Institute for Financial Research SAFE, Frankfurt a. M., https://nbn-resolving.de/urn:nbn:de:hebis:30:3-640587bankrun.asp (Access Date_ 19.04.2023) google scholar
  • İslamoğlu, M. (2002). Türev Ürünlerden Forward Sözleşmeler; Forward Sözleşmelerinin Tdhp’na Göre Muhasebeleştirilmesi. Yayınlanmamış yüksek lisans tezi, İstanbul Üniversitesi, İstanbul google scholar
  • İşseveroğlu, G. (2014). TMS 39 Kapsamında Finansal Varlıkların Sınıflandırılması ve Değerlemesi: Borsa İstanbul 100 Endeksindeki Şirketlerin Uygulamaları. Uluslararası Yönetim İktisat ve İşletme Dergisi, 10(21), 87-106. google scholar
  • Jean-Loup, S. (2017). Measuring Heterogeneity in Bank Liquidity Risk: Who are the Winners and Losers? The Quarterly Review of Economics and Finance, 66, 302-313. google scholar
  • Kang-Landsberg, A. & Plosser, M. (2022). How do Deposit Rates Respond to Monetary Policy? https://libertystreeteconomics. newyorkfed.org/2022/11/how-do-deposit-rates-respond-to-monetary-policy/ (Access Date: 01.05.2023) google scholar
  • Kim, R. (2023). Interest Rate Hedging and Silicon Valley Bank Idiosyncrasies. SSRN: https://ssrn.com/abstract=4413099 or http:// dx.doi.org/10.2139/ssrn.4413099 google scholar
  • Lieugaut, A. (2023). Bi-weekly Data Additions. https://www.macrobond.com/news-posts/bi-weekly-data-additions-15 (Access Date: 02.05.2023) google scholar
  • Litan, R., Lowy, M. & White, L. J. (2023). Bank Bosses are Hiding $600 billion in Unrealized Losses to Keep Their Mega Bonuses. google scholar
  • Here’s Why Portfolio Securities Should be Marked to Market. https://fortune.com/2023/04/14/bank-bosses-unrealized-losses-mega-bonus-portfolio-securities-marked-to-market-finance-litan-lowy-white/ (Access Date: 01.05.2023) google scholar
  • Meyer, K. and Olert, J. (2023). Silicon Valley Bank Collapse: Lessons for Boards: Board members with risk management experience are important but a company also needs a chief risk officer. Directors & Boards, 47(3), pp. 36+ Gale Academic OneFile, link.gale.com/apps/ doc/ A749396577/AONE?u=anon~9ced53d5&sid=googleScholar&xid=574cebc4. google scholar
  • Mirza, A. A., Holt, G. J. & Orrell, M. (2006). International Financial Reporting Standards (IFRS) Workbook and Guide. New Jersey: John Wiley & Sons. google scholar
  • Our World in Data. https://ourworldindata.org/explorers/coronavirus-data-explorer?zoomToSelection=true&time=2020-03-01.. latest&uniformYAxis=0&country=~USA&pickerSort =asc&pickerMetric=location&Interval=7-day+rolling+average&Relative+to+P opulation=true&Color+by+test+ positivity=false&Metric=Cases+and+deaths (Retrieved from: 01.05.2023) google scholar
  • Richter, F. (2023). The Fed is Moving Historically Fast to Tame Inflation. https://www.statista.com/chart/28437/interest-rate-hikes-in-past-tightening-cycles/ (Access Date: 01.05.2023) google scholar
  • Son, H. (2023). SVB Customers Tried to Withdraw Nearly All the Bank’s Deposits Over Two Days, Fed’s Barr Testifies. https://www. cnbc.com/2023/03/28/svb-customers-tried-to-pull-nearly-all-deposits-in-two-days-barr-says.html (Access Date: 03.05.2023) google scholar
  • SVB. (2023-1). SVB Financial Group Annual Report for the Fiscal Year Ended December 31, 2022. https://d18rn0p25nwr6d.cloudfront. net/CIK-0000719739/f36fc4d7-9459-41d7-9e3d-2c468971b386.pdf (Access Date: 02.05.2023) google scholar
  • SVB. (2023-2). SVB Financial Group Announces Proposed Offerings of Common Stock and Mandatory Convertible Preferred Stock. https://ir.svb.com/news-and-research/news/news-details/2023/SVB-Financial-Group-Announces-Proposed-Offerings-of-Common-Stock-and-Mandatory-Convertible-Preferred-Stock/default.aspx (Access Date: 01.05.2023) google scholar
  • Şakar, H. (2002). Risk Yönetimi Açısından Bankalarda Aktif-Pasif Yönetimi. Mida Institute Bankacılık Eğitim Dizisi. google scholar
  • Tekeli, İ. & İlkin,S. (1997). Türkiye Cumhuriyeti Merkez Bankası Para ve Kredi Sisteminin Oluşumunda Bir Aşama. Ankara: İletişim Yayıncılık. google scholar
  • Terim A. (2013). Basel III Uzlaşısı Kapsamında Bankalarda Likidite Riski Yönetimi ve Türk Bankacılık Sektörü Üzerindeki Yansımaları. Yayımlanmış Yüksek Lisans Tezi, İstanbul Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul. google scholar
  • TFRS/ UFRS 9. Finansal Araçlar Standardı. https://www.kgk.gov.tr/Portalv2Uploads/files/Dynamic ContentFiles/T%C3%BCrkiye%20 Muhasebe%20Standartlar%C4%B1/TMSTFRS2019Seti/TFR/TFRS_9. pdf. (Access Date: 06.05.2023) google scholar
  • TMS 1. Finansal Tabloların Sunuluşu. https://kgk.gov.tr/Portalv2Uploads/files/Duyurular/v2/TMS/TMS_1_Finansal%20Tabloların%20 Sunuluşu.pdf. (Access Date: 04.05.2023) google scholar
  • TMS 39. Finansal Araçlar: Muhasebeleştirme ve Ölçme. https://www.kgk.gov.tr/Portalv2Uploads/files/ DynamicContentFiles/ T%C3%BCrkiye%20Muhasebe%20Standartlar%C4%B1/TMSTFRS2018Seti/TMS/TMS_39_2018.pdf. (Access Date: 04.05.2023) google scholar
  • Toves, A. L. (1983). Gap Management: Managing Interest Rate Risk in Banks and Thrifts. Economic Review, Federal Reserve Bank of San Francisco, 8, 20-35. google scholar
  • Trading Economics. https://tradingeconomics.com/united-states/money-supply-m2 (Access Date: 03.05.2023) google scholar
  • Türkiye Cumhuriyet Merkez Bankası (2010). Finansal İstikrar Raporu (11). https://www.tcmb.gov.tr/wps/wcm/ connect/TR/TCMB+TR/ Main+Menu/Yayinlar/Raporlar/Finansal+Istikrar+Raporu/2010/Sayi+11 (Access Date: 19.04.2023). google scholar
  • Türküner, E. (2016). Basel III Likidite Düzenlemeleri Çerçevesinde Türk Bankacılık Sektörünün Likidite Riskinin Ölçülmesi ve Modellemesi. Türkiye Bankalar Birliği, İstanbul. google scholar
  • Uçar, D. & Köksal, M.O. (2019). Tasarruf Mevduatı Sigorta Sisteminin Görünümü ve Bankacılık Sektöründeki Son Durum. Journal of Economics and Financial Researches,1(2), 75-91. google scholar
  • Vo, L. Van. and Le, H. T. T., (2023). From Hero to Zero - The Case of Silicon Valley Bank. SSRN: https://ssrn.com/abstract=4394553 or http:// dx.doi.org/10.2139/ssrn.4394553 google scholar
  • Vuillemey, G. (2017). Bank Interest Rate Risk Management. https://ssrn.com/abstract=2644681. (Access Date: 29.04.2023). google scholar
  • Vuillemey, G. (2023). From the Saving Glut to Financial Instability: Evidence from the Silicon Valley Bank Failure. SSRN: https://ssrn. com/abstract=4413287 or http://dx.doi.org/10.2139/ssrn.4413287 google scholar
  • Yadav, M. P., Rao, A., Abedin, M.Z., Tabassum S. and Lucey B. (2023). The domino effect: Analyzing the impact of Silicon Valley Bank’s fall on top equity indices around the World. Finance Research Letters, 55(2023)-103952, pp: 1-5, https://doi.org/10.1016/j. frl.2023.103952 google scholar
  • Yalçınkaya, J. & Ekinci, A. (2007). Bankalarda Faiz Riskinin Ölçülmesi: GAP Analizi. Eskişehir Osmangazi Üniversitesi Sosyal Bilimler Dergisi, 8(1), 1-23. google scholar
  • Yavuz, S. T. (2002). Risk Yönetimi “İçeri” Aktif Pasif Yönetimi “Dışarı” (mı?). Bankacılar Dergisi, 13(41), 21-31. google scholar
  • Yenigün, G. (2016). Basel III Kriterleri Kapsamında Bankalarda Likidite Riski Yönetimi ve Türk Bankacılık Sektörüne Yansımaları. Yayımlanmış Yüksek Lisans Tezi. Beykent Üniversitesi Sosyal Bilimler Enstitüsü. İstanbul. google scholar
  • Zaghdoudi, K. & Hâkimi, A. (2017). The Determinants of Liquidity Risk: Evidence from Tunisian Banks. Journal of Applied Finance and Banking, 7(2), 71-81. google scholar
  • Zengin, S., & Yüksel, S. (2016). Likidite Riskini Etkileyen Faktörler: Türk Bankacılık Sektörü Üzerine Bir İnceleme. İstanbul Ticaret Üniversitesi Sosyal Bilimler Dergisi, 29(2), 77-95. google scholar
  • Zhaohua H. (2023). Analysis of Silicon Valley Bank Bankruptcy from the Perspective of Risk Management. Financial Engineering and Risk Management 2023(6): 75-80. DOI: http://dx.doi.org/10.23977/ferm.2023.060311. google scholar
There are 62 citations in total.

Details

Primary Language English
Subjects Business Administration
Journal Section RESEARCH ARTICLES
Authors

Gürol Baloğlu 0000-0003-1093-2664

Kaan Ramazan Çakalı 0000-0003-4186-2291

Nazan Güngör Karyağdı 0000-0003-3938-4147

Kadir Gökoğlan 0000-0001-6397-8477

Publication Date August 29, 2023
Published in Issue Year 2023

Cite

APA Baloğlu, G., Çakalı, K. R., Güngör Karyağdı, N., Gökoğlan, K. (2023). Managing and Reporting Liquidity Risks: Silicon Valley Bank Case. Muhasebe Enstitüsü Dergisi(69), 67-89. https://doi.org/10.26650/MED.1301779
AMA Baloğlu G, Çakalı KR, Güngör Karyağdı N, Gökoğlan K. Managing and Reporting Liquidity Risks: Silicon Valley Bank Case. MED. August 2023;(69):67-89. doi:10.26650/MED.1301779
Chicago Baloğlu, Gürol, Kaan Ramazan Çakalı, Nazan Güngör Karyağdı, and Kadir Gökoğlan. “Managing and Reporting Liquidity Risks: Silicon Valley Bank Case”. Muhasebe Enstitüsü Dergisi, no. 69 (August 2023): 67-89. https://doi.org/10.26650/MED.1301779.
EndNote Baloğlu G, Çakalı KR, Güngör Karyağdı N, Gökoğlan K (August 1, 2023) Managing and Reporting Liquidity Risks: Silicon Valley Bank Case. Muhasebe Enstitüsü Dergisi 69 67–89.
IEEE G. Baloğlu, K. R. Çakalı, N. Güngör Karyağdı, and K. Gökoğlan, “Managing and Reporting Liquidity Risks: Silicon Valley Bank Case”, MED, no. 69, pp. 67–89, August 2023, doi: 10.26650/MED.1301779.
ISNAD Baloğlu, Gürol et al. “Managing and Reporting Liquidity Risks: Silicon Valley Bank Case”. Muhasebe Enstitüsü Dergisi 69 (August 2023), 67-89. https://doi.org/10.26650/MED.1301779.
JAMA Baloğlu G, Çakalı KR, Güngör Karyağdı N, Gökoğlan K. Managing and Reporting Liquidity Risks: Silicon Valley Bank Case. MED. 2023;:67–89.
MLA Baloğlu, Gürol et al. “Managing and Reporting Liquidity Risks: Silicon Valley Bank Case”. Muhasebe Enstitüsü Dergisi, no. 69, 2023, pp. 67-89, doi:10.26650/MED.1301779.
Vancouver Baloğlu G, Çakalı KR, Güngör Karyağdı N, Gökoğlan K. Managing and Reporting Liquidity Risks: Silicon Valley Bank Case. MED. 2023(69):67-89.