Uncategorized

• June 17, 2024

  Roles and Responsibilities of the Executive Director and Managing Director

  This supervisory policy outlines the roles of the Executive Director of Payments, Supervision and Oversight and the Managing Director of Supervision. It also describes their responsibilities related to the Bank of Canada’s retail payments supervision mandate.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration, Supervision
• June 17, 2024

  Governor’s review

  This supervisory policy describes the Bank of Canada’s Governor’s review process and outlines what individuals, entities and payment service providers should expect if they request a Governor’s review of a retail payments supervision decision.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration
• June 17, 2024

  Issuing public notice of decisions

  This supervisory policy provides details on the Bank of Canada’s issuing of public notice for certain retail payments supervision and Governor’s decisions.

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

• Non-Parametric Identification and Testing of Quantal Response Equilibrium

  Staff Working Paper 2024-24 Johannes Hoelzemann, Ryan Webb, Erhao Xie

  We show that the utility function and the error distribution are non-parametrically over-identified under Quantal Response Equilibrium (QRE). This leads to a simple test for QRE. We illustrate our method in a Monte Carlo exercise and a laboratory experiment.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, Economic models JEL Code(s): C, C1, C14, C5, C57, C9, C92
• June 17, 2024

  Enforcement tools

  This supervisory policy lists the enforcement tools the Bank could use if enforcement action is needed against individuals, entities and payment service providers.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement, Registration
• June 17, 2024

  Enforcement process

  This supervisory policy outlines the Bank of Canada’s enforcement process and what individuals, entities and payment service providers should expect if the Bank takes enforcement action against them.

  Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Enforcement
• June 17, 2024

  Administrative monetary penalties

  This supervisory policy provides an overview of the Bank of Canada’s administrative monetary penalties (AMPs) regime and how the Bank determines administrative monetary penalty amounts.

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

• Demand for Canadian Banknotes from International Travel: Indirect Evidence from the COVID-19 Pandemic

  Staff Working Paper 2024-23 Hongyu Xiao

  This study uses the COVID-19 travel restrictions to estimate foreign demand for Canadian banknotes. It reveals that international visitors accounted for about 10% of all $100 CAD notes in circulation pre-pandemic, with each visitor carrying an average of $165 in hundred-dollar bills.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Central bank research, Coronavirus disease (COVID-19), Financial services, International topics JEL Code(s): E, E4, E41, E42, E5, E58, F, F2, F22

• The Role of Beliefs in Entering and Exiting the Bitcoin Market

  Staff Working Paper 2024-22 Daniela Balutel, Christopher Henry, Jorge Vásquez, Marcel Voia

  We develop a model that links investors’ decisions to enter or exit the Bitcoin market with their beliefs about the survival of Bitcoin. Empirical testing using Canadian data reveals that beliefs strongly influence both entries and exits, and this impact varies with time and ownership status.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Econometric and statistical methods JEL Code(s): D, D8, D83, E, E4, E41, O, O3, O33
• June 13, 2024

  CBC Radio

  

  Sharon Kozicki, Deputy Governor of the Bank of Canada
  Interview with CBC’s radio show All in a Day

  Content Type(s): Press, Media activities