Posts

• September 3, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (September 13–24)

  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
• September 1, 2021

  Bank of Canada designates Lynx as a systemically important payment system

  Media Relations Ottawa, Ontario

  Bank of Canada Governor Tiff Macklem has designated Lynx, which is owned and operated by Payments Canada, as a systemically important payment system under the Payment Clearing and Settlement Act.

  Content Type(s): Press, Press releases
• September 1, 2021

  Statement of Policy Governing the Acquisition and Management of Financial Assets for the Bank of Canada’s Balance Sheet

  The Statement of Policy establishes the policy governing the acquisition and management of financial assets for the Bank’s balance sheet. It does not apply to the assets of the Bank’s pension trust fund or supplementary trust fund.
• September 1, 2021

  Bank of Canada launches the 2022 Fellowship Program awards

  The Bank of Canada is inviting Canadian universities to nominate exceptional academics for its 2022 Fellowship and Governor’s awards.

  Content Type(s): Press, Announcements Source(s): Fellowship Program
• August 31, 2021

  Research Update - August 2021

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters
• August 30, 2021

  CARR Meeting (August 30, 2021)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group

• Reaching for yield or resiliency? Explaining the shift in Canadian pension plan portfolios

  Staff Analytical Note 2021-20 Sébastien Betermier, Nicholas Byrne, Jean-Sébastien Fontaine, Hayden Ford, Jason Ho, Chelsea Mitchell

  “Reach for yield”—This is the commonly heard explanation for why pension plans shift their portfolios toward alternative assets. But we show that the new portfolios also hold more bonds, offer lower average returns and produce smaller and less volatile solvency deficits. These shifts are part of a broader strategy to reduce solvency risk.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial institutions, Financial markets, Financial system regulation and policies JEL Code(s): G, G1, G11
• August 23, 2021

  Operational details for upcoming secondary market purchases of Government of Canada securities (August 30-September 10)

  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

• Household financial vulnerabilities and physical climate risks

  Staff Analytical Note 2021-19 Thibaut Duprey, Colin Jones, Callie Symmers, Geneviève Vallée

  Natural disasters occur more often than before, potentially exposing households to financial distress. We study the intersection between household financial vulnerabilities and severe weather events.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Climate change, Credit and credit aggregates, Financial stability, Housing, Recent economic and financial developments JEL Code(s): C, C2, C21, C3, C38, D, D1, D14, Q, Q5, Q54

• Fiscal Spillovers: The Case of US Corporate and Personal Income Taxes

  Staff Working Paper 2021-41 Madeline Hanson, Daniela Hauser, Romanos Priftis

  How do changes to personal and corporate income tax rates in the United States affect its trading partners? Spillover effects from cuts in the two taxes differ. They are generally small and negative for corporate taxes, but sizable and positive for personal income taxes.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Exchange rate regimes, Fiscal policy, International topics JEL Code(s): E, E3, E32, E6, E62, F, F4, F44, H, H2, H20