Uncategorized

• March 25, 2015

  Promoting Canada’s economic and financial well-being

  Presentation Timothy Lane Kelowna Chamber of Commerce Kelowna, British Columbia

  Deputy Governor Timothy Lane discusses the core responsibilities of the Bank and the economic outlook.

  Content Type(s): Press, Speeches and appearances, Presentations
• March 20, 2015

  Changes to the Bank of Canada’s role with respect to the Canadian Overnight Repo Rate Average (CORRA)

  Thomson Reuters Benchmark Services Limited will become the administrator, calculation agent and publication agent for the Canadian Overnight Repo Rate Average (CORRA), effective 30 March 2015.

  Content Type(s): Press, Market notices
• March 20, 2015

  Weekly Financial Statistics - 20 March 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics

• Sluggish Exports in Advanced Economies: How Much Is Due to Demand?

  Staff Discussion Paper 2015-3 Louis Morel

  Exports in advanced economies have been relatively sluggish since 2011, growing at a much slower pace than observed before the global financial crisis.

  Content Type(s): Staff research, Staff discussion papers Topic(s): International topics, Recent economic and financial developments JEL Code(s): F, F1, F4
• March 19, 2015

  Release of upcoming Quarterly Bond Schedule

  A standalone debt management strategy will be published on or before the end of March 2015, as required by the Financial Administration Act.

  Content Type(s): Press, Market notices

• Funding Liquidity, Market Liquidity and the Cross-Section of Stock Returns

  Staff Working Paper 2015-12 Jean-Sébastien Fontaine, René Garcia, Sermin Gungor

  Following theory, we check that funding risk connects illiquidity, volatility and returns in the cross-section of stocks. We show that the illiquidity and volatility of stocks increase with funding shocks, while contemporaneous returns decrease with funding shocks.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing, Financial markets JEL Code(s): E, E4, E43, H, H1, H12
• March 13, 2015

  Weekly Financial Statistics - 13 March 2015

  Content Type(s): Publications, Historical: Weekly Financial Statistics
• March 12, 2015

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Rhys R. Mendes House of Commons Standing Committee on Finance Ottawa, Ontario

  Rhys Mendes discusses the impact of lower oil prices on the Canadian economy, in general, and on the manufacturing industry, in particular.

  Content Type(s): Press, Speeches and appearances, Opening statements

• Fourier Inversion Formulas for Multiple-Asset Option Pricing

  Staff Working Paper 2015-11 Bruno Feunou, Ernest Tafolong

  Plain vanilla options have a single underlying asset and a single condition on the payoff at the expiration date. For this class of options, a well-known result of Duffie, Pan and Singleton (2000) shows how to invert the characteristic function to obtain a closed-form formula for their prices.

  Content Type(s): Staff research, Staff working papers Topic(s): Asset pricing JEL Code(s): G, G1, G12

• Effects of Funding Portfolios on the Credit Supply of Canadian Banks

  Staff Working Paper 2015-10 H. Evren Damar, Césaire Meh, Yaz Terajima

  This paper studies how banks simultaneously manage the two sides of their balance sheet and its implications for bank risk taking and real economic activity. First, we analyze how changes in funding affect the supply of bank loans.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial stability, Financial system regulation and policies, Monetary policy implementation JEL Code(s): E, E5, E52, G, G2, G21