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Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
Unconsolidated Financial Report as at and
For the Year Ended 31 December 2013
(Currency: Thousands of Turkısh Lıra (“TL”))
(Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I)
Information about counterparty risk
Current Period
(*)
Prior Period
(*)
Contracts based on Interest rate
17,566
11,853
Contracts based on currency
102,978
34,636
Contracts based on commodity
-
-
Contracts based on stocks
10
-
Other
-
-
Gross Positive Fair Value
120,554
46,489
Benefits of clarification
-
-
Clarified current risk amount
-
-
The securities which are held
-
-
The net position of derivatives
120,554
46,489
(*)
Counterparty risk related to purcahse/sale accounts is given.
IV. Operational risk
The Bank calculated the value at operational risk in accordance with the third section of “Regulation Regarding Measurement and Assessment of
Capital Adequacy Ratios of Banks” that is “Computation of Value of Operational Risk” published in 28 June 2012 dated Official Gazette no. 28337. The
operational risk which the Bank is exposed to is calculated according to the “Basic Indicator Method” hence by multipliying the average of the 15% of
last three years’ actual gross income with 12.5, in line with the effective legislation practices in the country.
Current Period
31 December
2010
31 December
2011
31 December
2012
Total / Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
3,704,421
4,205,182
5,191,308
3
15
655,046
Amount subject to operational
risk (Total*12,5)
8,188,075
Prior Period
31 December
2009
31 December
2010
31 December
2011
Total / Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
3,842,436
3,704,421
4,205,182
3
15
587,602
Amount subject to operational
risk (Total*12,5)
7,345,025
V. Foreign currency exchange risk
Foreign exchange risk that the Bank exposed to, estimation of effects of exposures, and the limits set by the Board of Directors of the
Bank for the positions being monitored on a daily basis
The Standard Method which is also used in the legal reporting is used in measuring the currency risk of the Bank.
All of the foreign currency assets and liabilities and the forward foreign-currency transactions are taken into consideration in calculating the capital
obligation for the currency risk. The net long and short positions are calculated in Turkish Lira equivalent of the each currency. The position with the
biggest absolute value is determined as the base amount for the capital obligation. The capital obligation is calculated at that amount.
The magnitude of hedging foreign currency debt instruments and net investment in foreign operations by using derivatives
As at 31 December 2013 the Bank does not have derivate financial instruments held for risk management.
VAKIFBANK ANNUAL REPORT 2013
141