Call for Input: Improving Financial System Data in Canada

Canada's financial system consists of financial institutions, financial markets, and clearing and settlement systems. It is a key part of the infrastructure of our economy. The Bank of Canada is one of several federal and provincial organizations that promote the efficiency and safety of Canada's financial system. The Bank's perspective is unique in that it takes a macroeconomic or systemwide point of view on the financial system, similar to what it does for its monetary policy responsibility.

A broad and complete repository of financial system data is critical to the considerable efforts that the Bank and others put into assessing developments and trends in both domestic and international financial systems. Data that provide insight into the financial system come from a wide array of sources. For example, information on the balance sheets of firms allows an assessment of exposures to movements in financial markets. From another perspective, information on specific financial instruments allows an understanding and evaluation of aggregate activity in broad classes of markets. Other types of information suit other purposes.

The Bank is in the process of reviewing the financial data available for undertaking analysis and research on the financial system in Canada. This review focuses on the data needed to evaluate the efficiency of specific markets and understand the risk exposures of Canadian firms. The Bank would like to know where analysis and research have been limited, rather than enhanced, by available data. It would also like to know what types of data will be needed looking ahead a few years and anticipating the challenges to be faced then.

To ensure that it has a complete view, the Bank invites those with suggestions for improvements in financial data to provide them to the Bank by mid-April 2003. Where possible, such submissions should indicate how having such data would benefit Canadians. Each and every submission will be read, thus giving the contributor a chance to have an influence on the financial data collected in Canada. To acknowledge receipt of the submission, the Bank will thank senders either by email or by letter, depending on how the submission is made.

Submissions should be sent to:

Call for Input
Communications Department
Bank of Canada
10th Floor, West Tower
234 Wellington Street
Ottawa, ON K1A 0G9

or

Please contact Ron Morrow (, 613 782-8580) or Brian O'Reilly (, 613 782-8600) if further information on this "Call for Input" is required.