THE TURKISH BANKING SECTOR - CHALLENGES AND OUTLOOK IN TRANSITION TO EU MEMBERSHIP

The paper explores the readiness of the Turkish banking sector for integration into the European Union. We address the issue from four different angles. First, we review the present structure and health of the sector, including the state of the regulatory framework, providing where possible a comparative perspective with the larger EU accession countries. Second, we look at the sector's financial solidity in 2003, with a view to gauging its readiness to adapt to a more challenging banking environment. Third, we look at the present obstacles to financial deepening and identify the most pressing issues that seem to hinder the sector's growth. Fourth, we explore issues of productivity and efficiency in the sector. In a final section, we ask the question of whether the Turkish banking sector is or will be ready in due time for EU accession and formulate some policy recommendations. We conclude that in 2004 the Turkish banking sector compares well with those of the new members of the EU. The major source of financial instability in the past was macroeconomic instability and government involvement. At present Turkey is closer to achieving macro-stability than ever in the past, and the government is reducing its direct involvement. Major strides have been accomplished after the crisis of 2001 in cleaning up a very nontransparent and politicized banking environment and in upgrading the regulatory structure to EU standards. Clearly, the job is not finished yet, with the challenge of introducing risk-management based on Basle II and of bringing the capital market to EU standards. Further consolidation and mergers with foreign partners will be inevitable. Should EU integration become a concrete vision of the future, macro stability has great chances to become rooted in Turkey and the banking sector will quickly move to EU standards, long before any accession date.Banking sector; European Union; integration; Turkey; regulatory framework

The Turkish Banking Sector: Challenges and Outlook in Transition to EU Membership. CEPS EU-Turkey Working Papers No. 4, 1 August 2004

The paper explores the readiness of the Turkish banking sector for integration into the European Union. We address the issue from four different angles. First, we review the present structure and health of the sector, including the state of the regulatory framework, providing where possible a comparative perspective with the larger EU accession countries. Second, we look at the sector’s financial solidity in 2003, with a view to gauging its readiness to adapt to a more challenging banking environment. Third, we look at the present obstacles to financial deepening and identify the most pressing issues that seem to hinder the sector’s growth. Fourth, we explore issues of productivity and efficiency in the sector. In a final section, we ask the question of whether the Turkish banking sector is or will be ready in due time for EU accession and formulate some policy recommendations. We conclude that in 2004 the Turkish banking sector compares well with those of the new members of the EU. The major source of financial instability in the past was macroeconomic instability and government involvement. At present Turkey is closer to achieving macro-stability than ever in the past, and the government is reducing its direct involvement. Major strides have been accomplished after the crisis of 2001 in cleaning up a very nontransparent and politicized banking environment and in upgrading the regulatory structure to EU standards. Clearly, the job is not finished yet, with the challenge of introducing risk-management based on Basle II and of bringing the capital market to EU standards. Further consolidation and mergers with foreign partners will be inevitable. Should EU integration become a concrete vision of the future, macro stability has great chances to become rooted in Turkey and the banking sector will quickly move to EU standards, long before any accession date

Design of RSFQ wave pipelined Kogge-Stone Adder and developing custom compound gates

Since the invention of computers, the calculation of arithmetic and logic operations using digital circuits has been one of the leading problems in processor designs. The challenge has been to compute more operations with less clock cycles by using additional specific logic circuits. One of the most fundamental processes is addition; in which the carry bit should be transferred from the least significant bit to the most significant one. A wide range of digital circuit designs have been sustained for specialized faster addition operation. One of these adder algorithms is Kogge Stone Adder which does faster calculation with fewer levels and minimum fan-out compared to today's adders despite the only disadvantage of having an excessive amount of wiring. In this study, a custom Rapid Single Flux Quantum (RSFQ) based, wave pipelined, Kogge Stone Adder is proposed to be used later in an Arithmetic Logic Unit (ALU). Two different design methodologies have been considered. In the first approach, we used standard logic gates for the whole adder design. In the second approach, utilization to compound gate design with adjustments over component parameters is done by using Particle Swarm Optimization and Statistical Timing Analysis Tools, to increase both efficiency and bias margin. (C) 2014 Elsevier Ltd. All rights reserved