Posts

• August 21, 2024

  Case scenarios about remittance service providers

  The following fictional case scenarios provide examples to help providers identify whether they perform the holding funds payment function, especially in the context of cross-border remittances.

  Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Holding funds, Registration
• August 21, 2024

  Case scenarios about payroll services

  The following fictional case scenarios provide examples of incidental activities under the Retail Payment Activities Act.

  Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Holding funds, Registration
• August 21, 2024

  Case scenarios about e-commerce web building tools and payment gateways

  The following fictional case scenarios provide examples of payment functions, namely the initiation of an electronic funds transfer (EFT) at the request of an end user, and the authorization of an EFT or the transmission, reception or facilitation of an instruction in relation to the EFT. They also provide examples of incidental activities under the Retail Payment Activities Act.

  Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration
• August 21, 2024

  Acquisitions of control and prescribed changes

  This supervisory policy explains how a registered payment service provider (PSP) should assess whether it will be the subject of a planned acquisition of control or a prescribed change.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Registration

• Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge

  Staff Working Paper 2024-31 Alberto Cavallo, Oleksiy Kryvtsov

  We study how price variation within a store changes with inflation, and whether households exploit these changes to reduce the burden of inflation. We find that price changes from discounts mitigated the inflation burden while cheapflation exacerbated it.

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation and prices, Inflation: costs and benefits, Market structure and pricing JEL Code(s): E, E2, E21, E3, E30, E31, L, L8, L81

• Decision Synthesis in Monetary Policy

  Staff Working Paper 2024-30 Tony Chernis, Gary Koop, Emily Tallman, Mike West

  We use Bayesian predictive decision synthesis to formalize monetary policy decision-making. We develop a case-study of monetary policy decision-making of an inflation-targeting central bank using multiple models in a manner that considers decision goals, expectations and outcomes.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Economic models, Monetary policy JEL Code(s): C, C1, C11, C3, C32, C5, C53
• August 14, 2024

  Canada Border Services Agency wins Bank of Canada counterfeit deterrence award

  The Bank of Canada is pleased to announce the recipients of its 2024 Law Enforcement Award of Excellence for Counterfeit Deterrence.

  Content Type(s): Press, Announcements

• CORRA: Explaining the rise in volumes and resulting upward pressure

  Staff Analytical Note 2024-21 Boran Plong, Neil Maru

  On May 27, 2024, the settlement period for trading GoC bonds in the secondary market in Canada moved from two days to one. This shortened time for settling secondary cash bond trades caused CORRA volumes to rise significantly, and they have remained elevated since. This combined with the skew in demand for funding has pressured CORRA higher. We find no indications that any other factors are contributing to the most recent pressures on CORRA.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Interest rates, Monetary policy implementation JEL Code(s): D, D4, D5, D53, E, E4, E43, E44, E5, E52, G, G1, G12
• August 8, 2024

  Bank of Canada engages experts to assess internal review of exceptional policy actions during pandemic

  Media Relations Ottawa, Ontario

  The Bank of Canada announced today the names of three external experts who will provide an independent assessment of its review of exceptional policy actions taken during the COVID-19 pandemic.

  Content Type(s): Press, Press releases
• August 7, 2024

  Release of the Bank of Canada’s summary of deliberations

  On Wednesday, August 7, 2024, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on July 24, 2024.

  Content Type(s): Press, Media advisories