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Analyzing supply and demand for business loans using microdata from the Senior Loan Officer Survey
Both supply and demand factors help determine the level of business lending in the economy, but most data show only their combined effect on prices and quantities. Using the Bank of Canada’s Senior Loan Officer Survey microdata on financial institutions’ lending conditions and demand, we separate supply from demand effects. -
June 30, 2021
Research Update - June 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. -
June 29, 2021
Bank of Canada publishes transaction-level data for its discontinued asset purchase programs
As previously announced on March 23, the Bank is publishing transaction-level data for its discontinued asset purchase programs that were introduced to support key financial markets during the COVID-19 pandemic. -
June 28, 2021
Operational details for upcoming secondary market purchases of Government of Canada securities (July 5-16)
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). -
An Optimal Macroprudential Policy Mix for Segmented Credit Markets
How can macroprudential policy and monetary policy stabilize segmented credit markets? Is there a trade-off between financial stability and price stability? I use a theoretical model to evaluate the performance of alternative policies and find the optimal mix of macroprudential and monetary policy in response to aggregate shocks. -
ToTEM III: The Bank of Canada’s Main DSGE Model for Projection and Policy Analysis
ToTEM III is the most recent generation of the Bank of Canada’s main dynamic stochastic general equilibrium model for projection and policy analysis. The model helps Bank staff tell clear and coherent stories about the Canadian economy’s current state and future evolution. -
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June 25, 2021
CFEC recommendations on dating conventions for foreign exchange contracts in light of new national holiday
In light of the newly-introduced National Day for Truth and Reconciliation holiday, and the closure of payment clearing and settlement systems, the Canadian Foreign Exchange Committee (CFEC) recommends that any existing forward foreign exchange contracts scheduled to settle on September 30, 2021 should be renegotiated to settle on September 29, 2021 instead. -
June 25, 2021
Bank of Canada to be closed in observance of National Day for Truth and Reconciliation on September 30, 2021
In observance of National Day for Truth and Reconciliation—a new national holiday to commemorate the tragic history and lasting effects of Canada’s residential school system, and to honour Indigenous survivors and their families and communities—the Bank of Canada, as a federally regulated workplace, will be closed on September 30, 2021.