Uncategorized

• March 26, 2013

  Bank of Canada designates SwapClear under the Payment Clearing and Settlement Act

  Media Relations Ottawa, Ontario

  The Governor of the Bank of Canada has designated SwapClear as subject to ongoing regulatory oversight by the Bank under the Payment Clearing and Settlement Act (PCSA), effective 2 April 2013.

  Content Type(s): Press, Press releases
• March 25, 2013

  Bank of Canada Announces Recipients of 2013 Fellowship and Governor’s Awards

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced the recipient of the Bank’s Fellowship Award and Governor's Award for 2013.

  Content Type(s): Press, Press releases Source(s): Fellowship Program

• To Link or Not To Link? Netting and Exposures Between Central Counterparties

  Staff Working Paper 2013-6 Stacey Anderson, Jean-Philippe Dion, Héctor Pérez Saiz

  This paper provides a framework to compare linked and unlinked CCP configurations in terms of total netting achieved by market participants and the total system default exposures that exist between participants and CCPs.

  Content Type(s): Staff research, Staff working papers Topic(s): Payment clearing and settlement systems JEL Code(s): G, G1, G18, G2, G23

• Méthodologie de construction de séries de taux de défaut pour l’industrie canadienne

  Staff Discussion Paper 2013-2 Ramdane Djoudad, Étienne Bordeleau

  Default rates are series commonly used in stress testing. In Canada, as in many other countries, there are no historical series available for sectoral default rates on bank loans to firms.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Financial institutions, Financial stability JEL Code(s): C, C1, C13, C18, G, G2, G21, G3, G33
• March 6, 2013

  Bank of Canada maintains overnight rate target at 1 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

  Content Type(s): Press, Press releases
• February 28, 2013

  Research Update - February 2013

  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.

  Content Type(s): Staff research, Research newsletters
• February 25, 2013

  Rebuilding Trust in Global Banking

  Remarks Mark Carney 7th Annual Thomas d’Aquino Lecture on Leadership - Lawrence National Centre for Policy and Management - Richard Ivey School of Business - Western University London, Ontario

  Bank of Canada Governor Mark Carney discusses the breakdown in trust in global banking and what is required to rebuild it.

  Content Type(s): Press, Speeches and appearances, Remarks
• February 21, 2013

  Bank of Canada announces Deputy Governor Appointment

  Media Relations Ottawa, Ontario

  The Board of Directors of the Bank of Canada today announced the appointment of Lawrence L. Schembri as Deputy Governor effective 25 February 2013.

  Content Type(s): Press, Press releases
• February 21, 2013

  The G-20 Framework for Strong, Sustainable and Balanced Growth: Macroeconomic Coordination Since the Crisis

  Bank of Canada Review - Winter 2012-2013 Robert Lavigne, Subrata Sarker

  Since 2009, the G-20 Framework for Strong, Sustainable and Balanced Growth has provided a mechanism for international macroeconomic policy coordination. The Framework has had some successes, including agreement on objectives for fiscal consolidation. However, post-crisis global growth has been neither strong nor balanced. Progress has also been slow in developing credible fiscal consolidation plans in some advanced countries and in increasing exchange rate flexibility in certain emerging economies. A stronger peer review process and enhanced analysis of international spillovers would increase the Framework’s influence on member policies.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Exchange rate regimes, Fiscal policy, International topics, Recent economic and financial developments JEL Code(s): E, E6, E61, F, F5, F53, F55
• February 21, 2013

  The U.S. Recovery from the Great Recession: A Story of Debt and Deleveraging

  Bank of Canada Review - Winter 2012-2013 Brady Lavender, Nicolas Parent

  The U.S. recovery from the Great Recession has been slow relative to other postwar-era recoveries in the United States. Encouraged by loose lending standards in the pre-crisis period, U.S. households took on unsustainable amounts of debt, making them vulnerable to adverse shocks. Subsequently, a considerable drop in asset prices forced households to repair their balance sheets. While there has been progress in household deleveraging, the government sector now needs to delever, which will restrain growth over the next few years.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Business fluctuations and cycles, International topics, Recent economic and financial developments JEL Code(s): E, E2, E21, E6, E60