December 7, 2009
Posts
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December 4, 2009
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 October (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows. -
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Regulatory Constraints on Bank Leverage: Issues and Lessons from the Canadian Experience
The Basel capital framework plays an important role in risk management by linking a bank's minimum capital requirements to the riskiness of its assets. Nevertheless, the risk estimates underlying these calculations may be imperfect, and it appears that a cyclical bias in measures of risk-adjusted capital contributed to procyclical increases in global leverage prior to the recent financial crisis. -
Market Timing of Long-Term Debt Issuance
The literature on market timing of long-term debt issuance yields mixed evidence that managers can successfully time their debt-maturity issuance. The early results that are indicative of debt-maturity timing are not robust to accounting for structural breaks or to other measures of debt maturity from firm-level data that account for call and put provisions in […] -
Network Analysis and Canada's Large Value Transfer System
Analysis of the characteristics and structure of a network of financial institutions can provide insight into the complex relationships and interdependencies that exist in a payment, clearing, and settlement system (PCSS), and allow an intuitive understanding of the PCSS's efficiency, stability, and resiliency. -
November 23, 2009
Results of the 23 November 2009 Term PRA Transaction
The results of today's term PRA operations are as follows. -
November 20, 2009
Bank of Canada Announces Details of its Term PRA Operation
In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 20 October (see schedule), the Bank of Canada announced today that it will conduct a term PRA operation as follows. -
November 20, 2009
Liquidity and the Financial System
Conference held 20 and 21 November 2009 (papers in unedited, electronic format only) -
November 19, 2009
Focus the Debate on International Monetary System Reform, says Bank of Canada Governor Mark Carney
A well-functioning international monetary system is required to promote economic growth and prosperity, Governor Carney said, as he reviewed the evolution of the international monetary system.