November 29, 2012
Quarterly Financial Report - Third Quarter 2012
Quarterly Financial Report - Third Quarter 2012 - For the period ended 30 September 2012
Posts
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November 27, 2012
Debt Management Strategy Consultations - 2013-14
The Department of Finance and the Bank of Canada are seeking views of government securities distributors, institutional investors, and other interested parties on issues related to the design and operation of the Government of Canada’s domestic debt program for 2013-14 and beyond. -
November 27, 2012
The Great Frustration: Hesitant Steps Toward Global Growth and Rebalancing
Deputy Governor John Murray discusses global growth and rebalancing. -
November 26, 2012
Bank of Canada Governor Mark Carney Appointed Governor of the Bank of England
The Bank of Canada announced that Her Majesty the Queen has approved the appointment of Mark Carney as Governor of the Bank of England effective 1 July 2013. He will serve a five-year term. Governor Carney will continue to serve in his current position until 1 June to ensure a smooth transition to the next […] -
November 23, 2012
Summary of the 2012 Survey on Canadian Foreign Exchange Hedging
Since 2004, the Bank of Canada has carried out an annual qualitative survey to assess client activity in Canadian foreign exchange (FX) hedging as reported by banks. -
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November 21, 2012
Weathering the Headwinds to Canada’s Economic Growth
Deputy Governor Tim Lane will discuss the global and Canadian economic outlook and outline the four main responsibilities of the Bank of Canada. -
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November 15, 2012
Financial Transaction Taxes: International Experiences, Issues and Feasibility
The financial transaction tax (FTT) is a policy idea with a long history that, in the wake of the global financial crisis, has attracted renewed interest in some quarters. This article examines the evidence of the impact of an FTT on market quality and explores a few of the practical issues surrounding the implementation of an FTT. Proponents argue that an FTT will generate substantial tax revenues and reduce market volatility. The majority of the empirical evidence, however, supports the arguments of opponents of the tax who assert that an FTT reduces volume and liquidity and increases volatility. In addition, there are numerous challenges in implementing an FTT, which may reduce the intended revenues. Whether an FTT is beneficial hinges on its effect on market quality and its ability to raise revenues. However, there are many unanswered questions regarding its design.
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November 15, 2012
Access, Competition and Risk in Centrally Cleared Markets
Central counterparties can make over-the-counter markets more resilient and reduce systemic risk by mitigating and managing counterparty credit risk. These benefits are maximized when access to central counterparties is available to a wide range of market participants. In an over-the-counter market, there is an important trade-off between risk and competition. A model of an over-the-counter market shows how risk and competition could be influenced by the incentives of market participants as they move to central clearing. In a centrally cleared market, there may be less risk when participation is high. This helps to explain why regulators have put in place requirements for fair, open and risk-based access criteria.