VAKIFBANK
2015 ANNUAL REPORT
264
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND
ITS FINANCIAL SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2015
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
Information on Counterparty Credit Risk
Counterparty credit risk is the probability of an economic loss that Bank could face because the counterparty to a transaction bringing liabilities to both
parties could default before the final settlement of the transaction.
In calculation of the counterparty credit risk “Valuation Method on the Basis of Fair Value” is implemented in the scope of “Regulation on Calculation
and Assessment of Capital Adequacy of the Banks”. The counterparty credit risk of the derivatives includes current replacement cost and potential future
credit exposure. Replacement cost is calculated on fair value of the contracts, whilst potential future credit risk exposure is calculated by multiplication
of contract amounts with the credit conversion rates stated in the appendices of the regulation.
Information about counterparty risk
Current Period
(*)
Prior Period
(*)
Contracts based on Interest rate
148,594
66,091
Contracts based on currency
141,618
100,177
Contracts based on commodity
-
-
Contracts based on stocks
-
-
Other
-
-
Gross Positive Fair Value
290,212
166,268
Benefits of clarification
-
-
Clarified current risk amount
-
-
The securities which are held
-
-
The net position of derivatives
290,212
166,268
(*)
Counterparty risk related on held for trading accounts is presented.
IV. CONSOLIDATED OPERATIONAL RISK
The Group 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 Group is exposed to is calculated according to the "Basic Indicator Method" hence by multiplying 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 2012 31 December 2013 31 December 2014
Total / Total
number of years
for which gross
income is positive Rate (%)
Total
Gross Income
5,215,105
5,893,893
6,411,206
5,840,068
15
876,010
Amount subject to
operational risk (Total*12.5)
10,950,128
Prior Period
31 December 2011 31 December 2012 31 December 2013
Total / Total
number of years
for which gross
income is positive
Rate (%)
Total
Gross Income
4,265,465
5,215,105
5,893,893
5,124,821
15
768,723
Amount subject to
operational risk (Total*12.5)
9,609,040
