Posts

• February 16, 2021

  University of Alberta crowned National Champion of The Governor’s Challenge

  Media Relations Ottawa, Ontario

  The University of Alberta has won the Bank of Canada’s sixth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council.

  Content Type(s): Press, Press releases Source(s): The Governor's Challenge

• Market Concentration and Uniform Pricing: Evidence from Bank Mergers

  Staff Working Paper 2021-9 João Granja, Nuno Paixão

  We show that US banks price deposits almost uniformly across their branches and that this pricing practice is more important than increases in local market concentration in explaining the deposit rate dynamics following bank mergers.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial system regulation and policies, Market structure and pricing JEL Code(s): D, D4, G, G2, G20, G21, G28, G3, G34, L, L1, L11
• February 11, 2021

  Canadian universities propose designs for a central bank digital currency

  The Bank of Canada is researching potential system designs and business models for a digital currency that, like a banknote, would be widely accessible, secure and denominated in Canadian dollars.

  Content Type(s): Press, Announcements Topic(s): Digital currencies and fintech
• February 10, 2021

  Changing how we pay

  Speech summary Timothy Lane Institute for Data Valorisation Montréal, Quebec

  Deputy Governor Timothy Lane discusses how the pandemic has accelerated the digitalization of the economy.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Bank notes, Coronavirus disease (COVID-19), Cryptocurrencies, Digital currencies and fintech, Payment clearing and settlement systems
• February 10, 2021

  Payments innovation beyond the pandemic

  Remarks (delivered virtually) Timothy Lane Institute for Data Valorisation Montréal, Quebec

  Deputy Governor Timothy Lane talks about how the Bank of Canada is contributing to the modernization of our payments ecosystem, and how the COVID-19 pandemic has highlighted the need to make payments more convenient for all Canadians.

  Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Bank notes, Coronavirus disease (COVID-19), Cryptocurrencies, Digital currencies and fintech, Payment clearing and settlement systems
• February 9, 2021

  CARR welcomes issuance of first compounded in arrears CORRA floating rate note

  The Canadian Alternative Reference Rate working group (CARR) welcomes the Royal Bank of Canada’s issuance of the first floating rate note referencing CORRA compounded-in-arrears.

  Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
• February 8, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (February 15-26)

  As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP).

  Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program

• Distributional Effects of Payment Card Pricing and Merchant Cost Pass-through in Canada and the United States

  Staff Working Paper 2021-8 Marie-Hélène Felt, Fumiko Hayashi, Joanna Stavins, Angelika Welte

  Although credit cards are more expensive for merchants to accept than cash or debit cards, merchants typically pass through their costs evenly to all customers. Along with consumer card rewards and banking fees, this creates cross-subsidies between payment methods. Because higher-income individuals tend to use credit cards more than those with lower incomes, our results indicate that these cross-subsidies might lead to regressive distributional effects.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Financial institutions, Financial services, Market structure and pricing, Payment clearing and settlement systems JEL Code(s): D, D1, D12, D2, D23, D3, D31, E, E4, E42, G, G2, G21, L, L8, L81
• February 4, 2021

  Monitoring payment deferrals during the COVID-19 pandemic—update, December 2020

  Geneviève Vallée

  During the COVID-19 pandemic, Canada’s financial institutions have allowed households to defer payments on a range of loans. We present updated details of debt payment deferrals by borrowers through to December 2020.

  Content Type(s): Publications, Financial System Hub articles Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates
• February 4, 2021

  CORRA Advisory Group Meeting (February 4, 2021)

  Content Type(s): Meetings Source(s): CORRA Advisory Group