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Along with globalization, developments that in financial markets have brought some recency in recent years. The most important of these recency is the securitization of financial assets and sale to investors in capital markets. Nonliquid asset items are converted into liquid with securitization so additional funding is provided to finance markets. Securitization, which has an important financial aspect, has emerged as a preferred phenomenon in place of traditional banking in the 1970s due to the changes taking place in the international financial markets. Initial securitization practices began with the securitization of mortgage loans in the United States. The first mortgage-backed securities application was the securitization of receivables arising from financial lease agreements in 1985. Today, automobile loans, credit card receivables, equipment leases in financial leasing, student loans, commercial receivables, other assets assets securitized receivables arising from export transactions are among the products. The aim of this study is analyzing securitization which a new funding technique and analyzing the applications of liquidity-based securitization which are one of the securitization transactions in Turkey and in the world. In this context; information are given about structuring of capital markets which securitization transactions, and in generally information are given about securitization traded in these market. Followed by definition and development of the securitization. In the last part of the study, the definition of asset-backed securities transactions which is one of the securitization types has been examined and the literature on Turkey and world applications of asset-backed securities has been examined and the related review and suggestion have been evaluated. [ABSTRACT FROM AUTHOR]

In this study, the types and the reasons of fraud in the balance sheets of brokerage houses has been summarized, generic information about Benford's law and χ² goodness of fit test has been given and the application of Bendford's law for financial auditing has been explained. Then Bendford's law has been applied on the consolidated balance sheets of the brokerage sector which is published at 31 March 2012 on their web site and checked if they contain fraudulent decleration or not. In this paper, findings have showned that H0 hypothesis is acceptable with 5% error margin. [ABSTRACT FROM AUTHOR]

Securitization is a process in which different assets or portfolios of cash own generating securities are pooled together and then sold to third parties. Recent global financial crisis demonstrate the need to create and implement regulatory frameworks that balance financial markets. In this context, Europeans have watched in bewilderment and amazement as the USA mortgage market cratered. The purpose of this article is to research the differences of securitisation between the USA and the European Union from a macroeconomic perspective. There is considerable evidence that securitisation in the USA and the EU indicate structural differences. Securitisation in most of the economies in the world is an attractive and potentially large source of long-term funding for mortgage markets. In addition, securitisation can be found both in developed and in emerging countries. Every year, all over the world, approximately US$5 trillion worth of funds are transferred to homebuyers over the capital markets. The lack of a modern housing finance system in Turkey prevents from taking advantage of these widely available funds and services. In this regard, another objective is to capture key trends for the securitisation in Turkey via secondary mortgage markets. The Mortgage Law was approved in March 2007 by the Turkish Grand Nation Assembly. This law encourages securitisations of mortgage loans in the best advantages of the financial systems and the borrowers. Because of its benefits; further encouragement should be provided for promoting securitisation in Turkey. [ABSTRACT FROM AUTHOR]

As long as financial markets exist risk component is also going to exist in the system. What is important for firms and investors acting in financial markets is foreseeing the probable risks and to act in new positions in parallel with these foresights, besides minimizing the risks. In this paper, recently --relating to risk management- most preferred VaR value analysis methods have been examined, and VaRs have been measured in hypotetical portfolios developed by variance -- covariance method. Since it has become into effect, pension mutual funds in private pension system developing and emerging in Turkey are one of the factors that transmit long term investments to capital markets. In economical researchs, it is found that revenue backed public borrowing tools correspond to low-risk funds of pension mutual funds. The results achieved from the calculations made in this paper are in parallel with those economic interpretations. [ABSTRACT FROM AUTHOR]