Central Bank of the Republic of Turkey Organization and Governing Bodies

D- AUDITING COMITTEE

E- OFFICE OF THE GOVERNOR

F- EXECUTIVE COMMITTEE

G- HEAD OFFICE

H- BANKNOTE PRINTING PLANT

I- BRANCHES

A- GENERAL ASSEMBLY

The General Assembly of the Bank is composed of the shareholders who are registered in the share book of the Bank. The General Assembly convenes each year on a date specified in the Articles of Association of the Bank. Each person owning ten shares or representing this number of shares is entitled to one vote. Those who are not shareholders may not represent more than one vote by proxy at the General Assembly. The Governor acts as the chairman of the General Assembly.

The General Assembly has the following duties and powers:

1. To examine the annual report submitted by the Board and the report of the Auditing Committee;

2. To examine and approve the balance sheet and the income statements of the Bank;

3. To release members of the Board and the Auditing Committee;

4. To increase the capital;

5. To amend the Articles of Association of the Bank;

6. To render a decision concerning the liquidation of the Bank.

B- BOARD

The Board is composed of the Governor and six members to be elected by the General Assembly.

The duties of the members may not be reconcilable with any other duty outside the Bank whether of a legislative, official or private nature unless otherwise permitted by a special law. Furthermore, these members are not allowed to engage in trade, nor may they become shareholders of banks or companies. Duties in charitable associations and in foundations with charitable, social and educational purposes and partnerships in non-profit-making cooperative companies are excluded from this provision.

Members of the Board are required to have received a higher education and to have acquired knowledge and experience in banking or in the fields of economics and finance. The term of office of Board members is three years. The Governor is the Chairman of the Board.

One third of the Board members is replaced each year. The members who are to leave the Board at the end of the first and second years are determined by drawing names. Members whose terms of office have terminated may be reelected.

The Board convenes with the participation of at least two thirds of the members and renders a decision by the majority of the members present. In the event of a tie, the proposal of the party supported by the Governor is considered adopted. Vice Governors may attend Board meetings but do not have the right to vote.

Duties and Powers of the Board are as follows:

a) To make decisions concerning the monetary policy to be implemented and monetary policy instruments to be utilized in compliance with the monetary policy strategy and inflation target,

b) To set forth regulations and to make decisions on the replacement of banknotes in circulation, as well as their withdrawal from circulation and their destruction,

c) To establish procedures and conditions and to enact the necessary regulations regarding open market operations, foreign exchange operations, rediscount and advance operations as well as rediscount and advance interest rates, reserve requirements and liquidity requirements, other monetary policy operations and instruments, the management of gold and foreign exchange reserves of the country,

d) To make decisions pertaining to the issues stipulated in paragraphs (I) and (III) of Article 40,

e) To make decisions regarding the establishment of payment, securities transfer and settlement systems on conditions that shall promote their soundness and effectiveness; to determine the procedures and conditions of payment methods and instruments; to draw up regulations regarding the surveillance and supervision of clearing houses,

f) To determine the procedures and conditions for requesting information and collecting statistics,

g) To enact regulations and to render decisions pertaining to the establishment of branches, representative offices, liaison offices and the appointment of correspondents; and the Banknote Printing House,

h) To decide on issues concerning provisions and reserves and to determine the procedures and conditions regarding the transfer of the balance remaining after the allocation of profit to the Treasury

i) To prepare the budget, annual report, balance sheet, income statements and the agenda of the General Assembly of the Bank,

j) To submit proposals to the General Assembly for amending the Articles of Association of the Bank and increasing the capital,

k) To approve the regulations on the administration, organization, services and personnel of the Bank,

l) To take decisions on the purchase or acquisition of real property needed by the Bank, as well as on the sale, donation and barter and other transactions when necessary, of real property owned by the Bank,

m) To decide on donation, amicable settlement, release, waiver and cancellation of the amounts and values, which are not within the scope of powers that it shall delegate to other governing bodies of the Bank,

n) To approve the annual cadres of the Bank’s personnel,

o) To take decisions and set forth regulations on issues submitted by the Office of the Governor for examination and approval, apart from the ones subject to the approval of the Monetary Policy Committee pursuant to this Law.

C- MONETARY POLICY COMMITTEE

The Monetary Policy Committee is, under the chairmanship of the Governor, composed of Vice Governors, a member to be elected by and from among the Board members and a member to be appointed by a joint decree on the recommendation of the Governor. The Undersecretary of the Treasury or Deputy Undersecretary to be designated by him/her may participate in the meetings without having the right to vote. Monetary Policy Committee membership shall terminate when the term of office of the Governor, Vice Governor and the Board member comes to an end.

The member to be appointed by a joint decree are required to have studied monetary policy matters and hold an academic degree in one of the fields of economics, business administration, banking and finance; to have worked in his/her field for at least ten years and are required to have adequate experience and knowledge. The term of office of this member is five years.

The prohibitions stipulated in Article 19 are also applicable to the appointed member. However, academic posts in universities are not in the scope of this provision. The appointed member shall have the same financial and social rights as the Board members.

The Monetary Policy Committee has the following duties and powers:

a) To determine the principles and strategy of monetary policy in order to achieve and maintain price stability,

b) To determine the inflation target together with the Government within the framework of the monetary policy strategy,

c) To provide information to the public in line with the principles set forth, and provide information to the Government within specified periods by preparing reports regarding monetary policy targets and its implementations,

d) To take necessary measures in order to protect the domestic and international value of Turkish Lira and to establish the exchange rate policy in determining the parity of Turkish Lira against gold and foreign currencies jointly with the Government.

The Monetary Policy Committee sets forth, which decisions will be published, together with the procedure of publishing. The issues to be announced by the Monetary Policy Committee are published immediately in the Official Gazette.

The Monetary Policy Committee decisions are executed by the Governor and are provided to the Board.

D- AUDITING COMMITTEE

Members of the Auditing Committee are elected as follows:

1. One member by shareholders of class (A),

2. Two members by shareholders of classes (B) and (C),

3. One member by shareholders of class (D).

Each share within the classes is entitled to one vote.

Members of the Auditing Committee serve for a term of two years. Members of the Auditing Committee are required to have received a higher education and to have acquired knowledge and experience in the fields of banking and accounting.

Duties and Prohibitions

The Auditing Committee supervises all the operations and accounts of the Bank. The Office of the Governor is obliged to furnish all the information and documents requested by the Auditing Committee. The Auditing Committee, having no administrative power, submits its opinions in writing to the Board and presents a copy thereof to the Prime Ministry. The Committee submits a report to the General Assembly to be drawn up on the operations and accounts of the Bank at the end of the year.

Members of the Auditing Committee may not share in the profits of the Bank.

E- OFFICE OF THE GOVERNOR

Governor

The Governor is appointed for a term of five years by a decree of the Council of Ministers. The Governor may be reappointed upon the expiration of this term.

The Governor is required to have received a higher education and to have acquired knowledge and experience in the fields of finance, economics and banking.

Duties, Representation and Powers

The Governor shall, in the capacity of the highest executive officer, administer and represent the Bank within the country and abroad.

The Governor is entrusted with the following powers:

1. To ensure the enforcement of the provisions of this Law and the decisions made by the Board.

2. To respond appropriately to carry out the duties with which the Bank is entrusted by this Law and to make proposals to the Board on such measures whenever the Governor may deem necessary.

In case of his/her dissent from the decisions of the Board, the Governor may postpone the execution of any decision and may demand it to be reconsidered at the next meeting. In urgent circumstances, the Board shall convene at the request of the Governor and reconsider the issue in dispute. In the event of a disagreement between the Governor and the Board, the Prime Ministry shall act as an arbitrator.

In case of vacancy in the Governor's position, the Board shall convene under the chairmanship of the most senior member and one of the Vice Governor selected as acting Governor shall perform the duties and exercise the powers of the Governor.

Deputy Governors

Four Vice Governors are appointed to assist the Governor. Vice Governors are appointed by a joint decree for a period of five years on the recommendation of the Governor from persons who have received a bachelors or a masters degree and acquired adequate knowledge and experience in one of the fields of law, finance, economics, business administration and banking. They are required to have worked in their professions for at least ten years. Vice Governors may be reappointed upon the expiration of this term. The first paragraph of Article 27 and second paragraph of Article 28 shall also be applicable to Vice Governors.

F- EXECUTIVE COMMITTEE

The Executive Committee is composed of the Vice Governors under the chairmanship of the Governor. In cases where the Governor is unable to chair, the Vice Governor assigned by him/her shall preside over the Executive Committee.

The duties of the Executive Committee are as follows:

1. To prepare proposals to be submitted to the Board, by examining in advance the issues subject to Board decision, when deemed appropriate by the Governor;

2. To draw up regulations on the administration, organization and services of the Bank;

3. To render decisions on issues made subject to the decision of the Executive Committee by regulation;

4. To ensure coordination in the operations of the Bank;

5. To perform duties related to the appointment, salary, dismissal and retirement of personnel other than those appointed by the Board.

Decisions of the Executive Committee are taken by a majority of all the members. In the event of a tie, the proposal supported by the Governor shall be considered adopted.

G- HEAD OFFICE

The Head Office of the Bank consists of 13 Departments.

As the head of department, the Executive Director, Head of Unit, directs and manages his/her department in line with the principles and procedures stated in this Regulation. The Head of department is responsible for the fulfillment and management of all duties assigned to the related department.

In each department, there is a specified number of Deputy Executive Directors, Assistant Secretaries of Security and Defense who are responsible for the execution of duties of the related department according to the job distribution assigned by the head of department.

Departments execute their duties by means of divisions specified in this Regulation. Heads of divisions (directors) are responsible for all tasks of the division and for the fulfillment of duties entrusted to them by the head of department.

ACCOUNTING DEPARTMENT

Prepares the Bank’s Accounting Plan, adapts the accounting plan to current conditions and implements it accordingly, prepares the Bank’s balance sheet, income statement and inventory register and other statements,
Follows international applications in accounting and financial reporting fields and conducts the necessary studies thereto,
Conducts studies about the Bank’s Strategic Plan,
Prepares a three-year budget within the scope of the multi-annual budget system and budget plans for the two years following the first budget year and ensures their implementation,
Conducts activity-based cost accounting activities of the Bank,
Keeps and maintains books pertaining to the transactions and accounts at the Head Office as prescribed by the legislation,
Takes necessary measures to ensure the smooth operation and improvement of the Bank’s accounting system and introduces arrangements thereof,
Prepares reports about the funds formed as per the laws and decrees,
Executes fund transfers through SWIFT, EFT, SAOS systems; conducts custody and transfer of securities through ESTS (Electronic Securities Transfer and Settlement)
Effects payments or handles cash proceeds arising from the purchase or sale of goods and services of the Head Office as well as the staff’s personal benefits,
Executes the Head Office’s statutory obligations such as taxes, levies, duties and social security deductions,
Maintains, follows and controls the accounting records of foreign exchange transactions of the Head Office,
Instructs the branches and banks on issues that fall within the scope of its mandate.

The Accounting Department executes its functions in five divisions:

Turkish Lira Accounting Division

Foreign Exchange Accounting Division

Balance Sheet and Accounts Monitoring Division

Budgeting and Planning Division

Electronic Payments Division

AUDIT DEPARTMENT

Inspects all the transactions, activities and the related processes of the units, branches and representative offices of the Bank,
Drafts annual audit reports; submits them for approval of the Governor and ensures their implementation,
Provides assurance that all the works and transactions in the Bank are made pursuant to Law No.1211, Articles of Association of the Bank, other related legislation, instructions and directives,
Assists in the realization of the Bank’s objectives by developing systematic approaches for the assessment and improvement of the efficiency and effectiveness of risk management, internal control and governance processes of the Bank,
Improves the activity performance of the Bank and provides the senior management with an independent and objective assurance in pursuit of adding value to the Bank; and offers consultancy services,
Provides assurance for sufficiency, effectiveness, integrity and efficiency of the software, hardware and informatics technologies possessed by the Bank as well as assurance for security against unauthorized access to them and compatibility of such ICT tools for attaining goals; secures the confidentiality of all entries and data within the informatics systems and controlled access to them,
Informs the Governor of the issues and developments observed during audits which necessitate examination or investigation,
Undertakes examinations and research pursuant to Law No. 1211 and the Articles of Association of the Bank, other laws, regulations, decisions, notifications, instructions and directives and carries out investigations when necessary,
Conducts audits at relevant institutions and organizations in line with the annual audit plan to be prepared considering the views and recommendations of respective departments, or at times required by the departments, and when needed, conducts reviews of existing data and documents related to such institutions at the Bank within the scope of duties and authorities entrusted to the Bank by Law no. 1211 and other legislation,
Checks whether the cash and other assets of the Bank are duly preserved,
Provides the Executive Committee, the Board and the Auditing Committee with information about the results of auditing activities on a biannual basis,
Undertakes other assignments requested by the Governor.

BANKING AND FINANCIAL INSTITUTIONS DEPARTMENT

Monitors and evaluates the developments related to financial institutions and financial markets with the aim of achieving and maintaining financial stability in line with the objective of securing price stability; conducts research and studies thereon; submits its opinions to relevant authorities, when deemed necessary,
Prepares the Financial Stability Report,
Conducts studies to monitor and assess the risks borne by financial institutions,
Determines the terms and conditions related to required reserves and, if needed, liquidity requirements and ensures the implementation thereof,
Determines the terms and conditions of interest rates applicable by banks in the lending and acceptance of deposits; the rates of banks’ participation in profit and loss with regard to their participation accounts as well as other benefits, except interest rates, to be obtained via their lending transactions,
Specifies the maturities and types of deposits and participation accounts acceptable by credit agencies,
Makes arrangements in matters related to the management of foreign exchange positions of banks and authorized institutions that fall within the scope of the duties of the Bank,
Identifies studies to be conducted jointly with the Undersecretariat of Treasury, the Banking Regulation and Supervision Agency and other relevant institutions with a view to achieving confidence and stability in the financial system; ensures the coordination of sharing information and documents with the said institutions,
Presents its views on the solutions to problems arising in the financial system in cases of uncertainty, lack of confidence, and acceleration of fund withdrawals,
Collects information on loans, risks, protested bills and bad checks of customers of banks, financial leasing companies, factoring agencies, financing companies and other similar financial institutions acceptable to the Bank, and provides such information to these institutions,
Performs the duties entrusted to the Bank by the check legislation, and executes the services of interbank clearing houses,
Makes arrangements on payment and securities settlement and transfer systems as well as payment instruments and methods in coordination with relevant units of the Bank within the scope of its duties and powers thereof; carries out activities related to supervision of payment and settlement systems excluding those established or operated by the Bank,
Submits its opinion on all kinds of legal regulations related to banks and other financial institutions when needed,
Monitors and assesses the work and arrangements made by international institutions and other countries on financial issues within the scope of the duties and powers of the Department; prepares its opinions and proposals thereon,
Determines the principles governing cash and on account payments, deposits, remittance and collection transactions to be made in Turkish lira deposit accounts of the Bank, and the principles for interest, commission, fees and expenses to be applied by the Bank to all kinds of banking transactions; prepares the test keys to be used in transactions subject to test key procedures; concludes the amendment requests of the related departments to be made to the Instruction on Tariffs in a coordinated manner,
Prepares internal regulations and ensures coordination of other procedures to be conducted by the Bank jointly with the compliance officer, within the scope of responsibilities assigned to the Bank with the legislation regarding the prevention of laundering of the proceeds from crime and financing of terrorism,
Carries out transactions related to export rediscount credits extended by the Bank through acceptance of FX-denominated bills for rediscount,
Conducts operations related to medium and long term external loan agreements of the Bank,
Monitors project loans and structural adjustment loans provided by the Treasury or by other institutions under the Treasury guarantee from abroad and performs the banking operations thereof,
As assigned with the regulation on the Protection of the Value of the Turkish Currency, performs duties related to forward foreign exchange purchase and sale transactions, compulsory foreign exchange transfers, exports, imports, invisible transactions and capital movements,
Implements provisions of the legislation on exports promotion.

Banking and Financial Institutions Department executes its functions in six divisions:

Financial Sector Assessment Division

Regulation and Monitoring Division

Payment Instruments and Clearing Operations Division

Risk Centralization Division

Investment and Financial Instruments Division

Foreign Exchange Legislation Division

COMMUNICATIONS AND FOREIGN RELATIONS DEPARTMENT

Provides internal and external communication services,
Creates public opinion directly or through various means of communication in order to manage expectations with the Bank’s primary objective of achieving and maintaining price stability and performs the duties entrusted by the CBT Law,
Conducts relations with international institutions, central banks and the European Union,
Follows the developments and new formations in the world economy and reports to the senior management,
Conducts operations related to opening and closing representative offices abroad,
Conducts operations related to the secondment of staff at foreign representations of the Ministry of Foreign Affairs of the Republic of Turkey for the fulfillment of duties falling within the purview of the Bank stipulated in the protocol signed with the Ministry and ensure coordination in the implementation of the said protocol,
Monitors the national and international media and reports to the senior management,
Executes activities to maintain and foster the Bank’s relations with the national and international media, the public, institutions and organizations adhering to the basic principles of corporate reputation and reliability,
Acts as a spokesman of the Bank in line with the Bank’s corporate objectives, identity and goals within the framework of the basic principles of transparency, accountability, integrity, consistency and neutrality,
Conducts the necessary coordinated activities in collaboration with the related departments to establish a museum that will house valuables and objects reflecting Bank’s activities and are worth displaying, and communication and information activities in order to publicize the corporate structure of the bank,
Contributes to the drafting of the CBT Annual Report
Organizes conferences, meetings and activities alike and provides support to other divisions in organizing such events,
Provides necessary protocol services to the senior management of the Bank,
Organizes the Bank’s General Meeting of Shareholders’; conducts secretarial work for meetings of the Board and the Executive Committee,
Provides translation services; conducts studies to establish and encourage the use of a corporate style in translation work and presentations with respect to linguistic, structural and compositional features,
Carries out documentation services of the Bank,
Follows national and international publications, provides documents and information,
Purchases publications and handles subscription procedures on behalf of the Bank.

The Communications and Foreign Relations Department executes its functions in seven divisions and representative offices abroad:

Administrative Assistance Division

Board and Auditing Committee Services Division

Correspondence and Library Division

European Union Relations Division

International Affairs Division

Protocol Division

Public Relations Division

Representative Offices Abroad

HUMAN RESOURCES DEPARTMENT

Develops and formulates the Bank’s human resources policy and makes recommendations to senior management for its effective application;
Recruits suitable personnel for the Bank’s needs and employs them in the organization according to their qualifications;
Conducts job analysis and makes arrangements in the organization of the Bank to ensure productivity and efficiency;
Develops recommendations on adjusting staff salaries and social rights according to changing conditions,
Takes necessary actions regarding the appointment, personal rights and retirement of staff.
Undertakes all kinds of tasks related to evaluation of staff as well as awards to be given and disciplinary actions to be taken.
Informs employees of legislation regarding personnel, regulations on personal rights and social security, and submits its technical opinion to the related departments and authorities, when needed;
Conducts analysis to assess training needs of the Bank’s personnel;
Develops an effective training system in accordance with the Bank’s general objective and policy, as well as technological, economic and social developments, conducts research in this area, prepares, implements and evaluates training plans and programs.
Undertakes studies that promote cooperation, solidarity and motivation among the staff in order to strengthen the sense of belonging to the corporate culture of the institution,
Plans and organizes cultural, artistic and social activities of the Bank, encourages the Bank’s personnel to participate in such events.

The Human Resources Department executes its functions in four divisions:

Training Division

Human Resources Planning Division

Cultural, Artistic and Social Activities Division

Personnel Administration Division

INFORMATICS TECHNOLOGY DEPARTMENT

Determines the strategies for ICT (Information and Communication Technologies) and automation needs of the Bank; follows technological improvements in the field of ICT; provides informatics staff with the latest information; sets mid/long term plans; prepares detailed annual work plans; carries out, completes and monitors its projects in line with the work plans,
Selects and assembles the most appropriate hardware, software and communication solutions; conducts research to enhance the effectiveness of ICT systems and implements changes accordingly,
Defines, announces and applies standards for the installment and use of ICT systems as well as meeting the needs of the ICT systems,
Installs backup systems to ensure continuous operation,
Ensures coordination among the data processing services and groups within branches on technical aspects; directs the operation, maintenance and support services and includes them in projects,
Conducts studies on data and IT security; establishes security layers on IT systems and develops security policies to ensure the security of the Bank’s IT systems and the data on these systems,
Executes studies regarding quality and improvement for effective use of IT systems; takes necessary precautions for the uninterrupted operation of systems and their applications; determines the priorities in working plans and undertakes maintenance and repair works,
Develops applications regarding informatics systems according to the needs and plans of the CBT; submits these along with users’ manuals in an operating manner to the respective units; cooperates with the Human Resources Department for training of users,
Conducts documentation procedures for the work undertaken by the Department; compiles technical documents regarding the systems developed and establishes the Department’s library,
Executes budgeting of the operation of IT systems, miscellaneous developments and new investments and fulfills ICT procuring processes and investment programs; ensures the smooth operation of invoice follow-up and payment transactions in collaboration with the Construction and Procurement Department,
Determines the goals and principles regarding payment systems such as the components to function in connection with the Electronic Fund Transfer (EFT) and Electronic Securities Transfer (EST) System, the retail payment system to be established by the Bank and the Continuous Linked Settlement (CLS) System with the relevant units of the Bank; establishes and develops the payment systems and their international connections in this context and monitors the systems to ensure their reliable and efficient operation; assesses these systems in accordance with the targets set; introduces changes to systems when necessary; assumes the responsibility for coordination of parties within and outside the Bank regarding the systems and keeps the systems operational within the context of all these issues,
Provides support to the establishment of technology-supported and citizen-oriented IT systems in cooperation with other institutions and organizations within the context of e-Institution, e-Government, e-Country and e-Europe vision and studies of Turkey, when necessary.
Undertakes other duties assigned by the Governor.

The Informatics Technology Department executes its functions in six divisions:

Payment Systems Division

Systems Technical Support Division

Systems Operation Division

Application Development Division

System Research and Planning Division

Informatics Security and Quality Control Division

ISSUE DEPARTMENT

Undertakes arrangements for printing the national currency; and ensures its circulation,
Puts banknotes into circulation; replaces them with new issues when necessary; regulates the printing programs of banknotes and coordinates with the Banknote Printing Plant for efficient and uninterrupted production of valuables,
Determines the principles pertaining to custody, transportation, cancellation and destruction of valuables,
Determines the working conditions of the banknote processing systems,
Provides the branches, banks and related institutions with notifications about foreign exchange banknotes which are put into circulation and those which are withdrawn from circulation,
Conducts custodian and transportation operations of banknotes, coins, gold coins and gold bullions,
Conducts operations concerning banknotes withdrawn from circulation, as well as the counting, sorting, cancellation and destruction of old and worn-out banknotes,
Executes operations concerning the exhibition of banknotes, coins, gold, government securities, stocks, bonds and historical documents and valuables,
Handles all financial service transactions ranging from the printing to the destruction of government securities and maintains their portfolio and provision accounts; acts as the Treasurer,
Conducts operations pertaining to the Bank’s shares,
Follows operations pertaining to the Treasury Account System, tax collection and the commissions and fees to be paid by the Bank; concludes domestic correspondent banking agreements.

The Issue Department executes its functions in three divisions:

Issue Division

Banknote Movements Division

Treasury and Fiscal Services Division

LEGAL SERVICES DEPARTMENT

Provides other departments with legal assistance needed for conducting the Bank’s operations; submits its legal views on all kinds of legal matters related to the Bank, as requested by the Office of the Governor,
Represents the Bank in settlement of all kinds of legal conflicts related to the Bank with relevant authorities and concludes such procedures by taking all the necessary actions,
Participates in the preparatory work of regulation and legal documents pertaining to the Bank, and presents its views thereupon upon the approval or request of the Office of the Governor,
Contacts local and foreign judicial authorities, banks, universities and similar scientific institutions and organizations with the aim of monitoring legal and trial practices and providing necessary training; organizes professional meetings with these entities and ensures participation in seminars, courses and meetings organized by them, under the cognizance and upon the approval of the Office of the Governor.

The Legal Department functions as a counseling and support unit.

LOJISTICS DEPARTMENT

Conducts operations related to purchasing, selling, leasing, construction, restoration, renovation, installation, expansion, maintenance, repair and insurance of real estate needed by the Bank,
Installs and operates mechanical, piping, electrical and electronic systems for the Bank’s buildings and facilities or has them installed,
Keeps records and undertakes the follow-up of real estates and fixtures of the Bank,
Procures, stores and allocates the fixtures, stationery, printed papers and all kinds of supplies for the use of the Bank;
Carries out the maintenance, repair, insurance, disposal and removal work of the Bank’s fixtures or has them carried out,
Provides vehicles and transportation services for the Bank and carries out other auxiliary services in its capacity,
Provides catering services for the Head Office and Ankara Branch; monitors and coordinates operations regarding catering services at the branches,
Runs and manages the social facilities and the Center for Training, Seminar and Recreation, and determines the active and retired staff of the Bank that will be eligible to use the facilities,
Lays down the rules and procedures regarding the allocation of lodging houses and guesthouses to the personnel and undertakes the relevant procedures,
Plans and implements the health care policies of the Bank, sets the rules and procedures regarding services related to social and medical assistance to be offered to the Bank’s personnel and their family members under these policies,
In coordination with other institutions, plans and executes civil services for total defense in peacetime and during emergency rule, martial law, mobilization and war, as well as special security services in the Head Office and branch offices,
Handles the instructions regarding the fulfillment of defense, civil defense and security services in the Bank, units, branch offices and facilities; monitors and supervises compliance with these instructions.

The Logistics Department executes its functions in seven divisions:

Procurement Division

Support Services Division

Security Division

Supplies Division

Construction and Real Property Division

Technical Operations Division

Social Affairs Division

MARKETS DEPARTMENT

Conducts operations in the domestic and international foreign exchange, money, securities and in their derivative markets in order to manage the foreign exchange and gold reserves of the Country in an efficient manner;
Conducts open market operations acting for and on behalf of the Bank as per the principles and procedures stated in the Bank Law in order to regulate money supply and liquidity in the economy,
Acts as intermediary at the Interbank Money Market established within the Bank to ensure efficient distribution of liquidity in the banking system
Provides intraday or end of day credit to the banking system within the framework of its lender of last resort function,
Provides liquidity support credit to banks, which are illiquid but solvent and are experiencing uncertainty and concerns regarding soundness, in case of increased concerns about the safety and soundness of the banking system and an accelerated run on deposits,
As the fiscal agent of Treasury, conducts government domestic borrowing auctions on behalf of the Treasury and advises the Treasury on domestic borrowing issues,
Conducts foreign exchange and banknotes transactions under the current monetary and exchange rate policies. Acts as an intermediary between banks authorized to operate at the foreign exchange and banknotes markets in order to achieve more efficient utilization of funds and contribute to the enhancement of the mobilization of foreign exchange liquidity in the banking system and operates in the market in the name and on behalf of the Bank when necessary,
Establishes and arranges relations with the Bank’s correspondent banks for foreign exchange transactions,
Performs rediscount and advance transactions except for acceptance and financing operations and grants advances to the Savings Deposit Insurance Fund in case of extraordinary circumstances,
Identifies the sources of market, credit, liquidity and operational risks arising from investments in international markets, and determines risk management policies for managing those risks,
Monitors domestic and international financial markets and analyzes the developments thereof.

The Markets Department executes its functions in six divisions:

Money Markets Division

Open Market Operations Division

Treasury Operations Division

Foreign Exchange and Banknotes Markets Division

Foreign Exchange Transactions Division

Foreign Exchange Risk Management Division

WORKERS' REMITTANCES DEPARTMENT

Opens foreign exchange deposit accounts for Turkish workers abroad and conducts transactions thereto with the aim of bringing expat savings to Turkey,
Compiles statistical data on foreign exchange deposit accounts held with the Bank and prepares evaluation reports thereof.

The Workers' Remittances Department executes its functions in two divisions

Workers' Remittances Division

Monitoring and Communications Division

RESEARCH AND MONETARY POLICY DEPARTMENT

Performs economic analyses needed for the determination of monetary policy to be implemented in order to achieve price stability, which is the primary objective of the Bank,
Conducts reviews, analyses and research on monetary and exchange rate policies for determination of the main policy options with a view to achieving price stability,
Develops models to be used for designing monetary policy to be implemented by the Bank,
Carries out studies on communication strategies with respect to monetary policy,
Ensures coordination with the other units of the Bank in the decision-making process relating to monetary policy,
Prepares the inflation report and other reports requested by the Monetary Policy Committee,
Conducts economic analyses for the Bank’s main scope of duties,
Makes assessments identifying the current situation of the Turkish economy,
Develops short-term forecasting models; updates models in line with changing conditions, and makes predictions regarding the short-term course of macroeconomic variables,
Develops a system of leading indicators in order to determine the future potential course of macroeconomic variables, primarily inflation; monitors and evaluates these indicators,
Develops surveys in coordination with the relevant divisions of the Statistics Department and assesses the results thereof,
Ensures that Branches compile data across their own regions and that these data are consolidated and used in the decision-making process regarding monetary policy, in order to monitor economic conditions closely,
Reviews, analyzes and researches the behavior of companies and households for the determination of policy options for the purpose of achieving price stability,
Reviews, analyzes and researches the public sector and financial policy,
Reviews and analyzes the balance of payments, and conducts research thereon,
Reviews, analyzes and conducts research on the interaction between monetary and exchange rate policy and the corporate sector, households, the public sector and balance of payments,
Conducts research on structural problems,
Reviews, analyzes and conducts research on the behavior of the banking sector and financial investors with a view to the determination of the main policy options for achieving price stability,
Reviews, analyzes and researches the interaction between the monetary policy, public finance, the corporate sector and the financial sector,
Carries out monetary analyses including the Bank’s balance sheet and monetary aggregates,
Conducts reviews, analyses and research on asset pricing,
Makes analyses and predictions relating to world economies; reviews and analyzes the impacts of potential developments on the Turkish economy,
Makes research on structural transformation, convergence issues and regional integration within the scope of the EU accession process,
Identifies the topics of research projects; launches and completes the projects,
Submits the researches and evaluations to the Office of the Governor, relevant departments or persons and institutions deemed appropriate by the Office of the Governor,
Carries out studies on the issues and measures concerning the Bank, which are contained in the development plans, annual programs and annual budgets; cooperates with other departments that are carrying out studies concerning these matters; prepares the Bank’s recommendations,
Contributes to the preparation of information requested by national and international institutions,
Participates in domestic and international meetings concerning its tasks,

The Research and Monetary Policy Department executes its functions in one division:

Monetary Policy Administrative Services Division

STATISTICS DEPARTMENT

Collects data on economic matters, produces statistics by compiling and processing such data; presents them to the Office of the Governor and related departments, or to other individuals and institutions deemed appropriate by the Office of the Governor within the framework of a pre-determined schedule,
Conducts studies in line with the Official Statistics Program of the Turkish Statistical Institute, (TURKSTAT),
Conducts studies to ensure that the statistics produced within the bank comply with international standards,
Collaborates with other departments of the Bank in order to establish a databank, develop data-base applications and update the database,
Prepares tables of monetary and financial statistics,
Prepares balance of payments statistics and international investment position and other related tables,
Analyzes the financial statements of private sector companies with an aim to monitor the effects of monetary and credit policies on the real sector on a micro and macro scale; compiles them according to international sector classification, and prepares sectoral evaluation reports,
Prepares and conducts various surveys that would serve to evaluating developments in the economy.

The Statistics Department executes its functions in three divisions:

Monetary and Financial Data Division

Balance of Payments Division

Real Sector Data Division

H- BANKNOTE PRINTING PLANT DEPARTMENT

Prints Turkish lira, as well as foreign exchange banknotes, and valuable papers such as government papers, stock and bond certificates, visa stamps, national lottery tickets etc. against payment,
Produces or procures the printing material necessary for producing banknotes or valuable papers,
Conducts repair, maintenance and operation work of machines, equipment, hardware and systems to ensure that they operate uninterruptedly; undertakes manufacturing work when necessary; provides technical support for premises and equipment,
Follows personal rights, discipline records and training activities of its staff, conducts necessary studies to determine staff, provides security services, arranges catering and other support services,
Procures and sells all necessary goods and services; provides social affairs, accounting, staff payment system, information technology and cashier services,
Conducts necessary studies and collaborates with the relevant units to ensure that orders are ready on time,
Examines suspected counterfeit TL or FX banknotes and valuable papers produced by the Bank and conducts activities necessary for the prevention of counterfeiting,
Operates Quality Management System and ensures its permanence,
Follows and implements technological innovations in its area of activity,
Introduces innovations in banknote and valuable paper printing and printing technologies; makes necessary research to find out if the quality raw material used in printing can be produced in domestic market, establishes experimental mechanisms for research and development activities; manufactures prototype machines and system,
Determines and conducts the operational and implementation principles of the unit.

The Banknote Printing Plant Department executes its functions in seven divisions:

Banknote Production Division

Production Control and Other Products Division

Maintenance, Repairs and Plant Division

Administrative Services Division

Financial Services Division

Research and Development Division

Counterfeit Monitoring and Analysis Division

I- BRANCHES

The Central Bank of the Republic of Turkey has 21 Branches nationwide. These are:

1. Adana Branch

2. Ankara Branch

3. Antalya Branch

4. Bursa Branch

5. Denizli Branch

6. Diyarbakır Branch

7. Edirne Branch

8. Erzurum Branch

9. Eskişehir Branch

10. Gaziantep Branch

11. İskenderun Branch

12. İstanbul Branch

13. İzmir Branch

14. İzmit Branch

15. Kayseri Branch

16. Konya Branch

17. Malatya Branch

18. Mersin Branch

19. Samsun Branch

20. Trabzon Branch

21. Van Branch