Uncategorized

• Bank Leverage Regulation and Macroeconomic Dynamics

  Staff Working Paper 2011-32 Ian Christensen, Césaire Meh, Kevin Moran

  This paper assesses the merits of countercyclical bank balance sheet regulation for the stabilization of financial and economic cycles and examines its interaction with monetary policy.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models, Financial institutions, Financial system regulation and policies, Monetary policy framework, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E52, G, G2, G21
• December 22, 2011

  Results of the 22 December 2011 Term Repo Operation for Balance Sheet Management Purposes

  Results of today's term repo for balance sheet management purposes operation.

  Content Type(s): Press, Market notices
• December 21, 2011

  Bank of Canada Announces Details of its Term Repo for Balance Sheet Management Purposes Operation

  The Bank of Canada announced today that it will conduct a Term Repo Operation for Balance Sheet Management Purposes operation.

  Content Type(s): Press, Market notices

• Do Low Interest Rates Sow the Seeds of Financial Crises?

  Staff Working Paper 2011-31 Simona Cociuba, Malik Shukayev, Alexander Ueberfeldt

  A view advanced in the aftermath of the late-2000s financial crisis is that lower than optimal interest rates lead to excessive risk taking by financial intermediaries.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial system regulation and policies, Monetary policy transmission JEL Code(s): D, D5, D53, E, E4, E44, E5, E52, G, G2, G28

• Trading Dynamics with Adverse Selection and Search: Market Freeze, Intervention and Recovery

  Staff Working Paper 2011-30 Jonathan Chiu, Thorsten Koeppl

  We study the trading dynamics in an asset market where the quality of assets is private information of the owner and finding a counterparty takes time. When trading of a financial asset ceases in equilibrium as a response to an adverse shock to asset quality, a large player can resurrect the market by buying up lemons which involves assuming financial losses.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Financial stability JEL Code(s): E, E6, G, G1
• December 12, 2011

  Growth in the Age of Deleveraging

  Remarks Mark Carney Empire Club of Canada / Canadian Club of Toronto Toronto, Ontario

  Governor Mark Carney discusses the factors driving global deleveraging and the implications for economic growth in Canada.

  Content Type(s): Press, Speeches and appearances, Remarks
• December 8, 2011

  Strengthening Bank Management of Liquidity Risk: The Basel III Liquidity Standards

  Financial System Review - December 2011 Natasha Khan, Tamara Gomes

  Content Type(s): Publications, Financial System Review articles
• December 8, 2011

  Financial System Review - December 2011

  

  In this issue of the Financial System Review, the Bank of Canada’s Governing Council judges that the risks to the stability of Canada’s financial system are high and have increased markedly over the past six months, owing primarily to an escalation of the sovereign debt crisis in the euro area and a weaker global economic outlook.

  Erratum: The data for Chart 7 on page 8 were plotted incorrectly. See revised chart.

  Content Type(s): Publications, Financial Stability Report

• Effectiveness of Capital Controls in India: Evidence from the Offshore NDF Market

  Staff Working Paper 2011-29 Michael Hutchison, Gurnain Pasricha, Nirvikar Singh

  This paper examines the effectiveness of international capital controls in India over time by analyzing daily return differentials in the non-deliverable forward (NDF) markets using the self-exciting threshold autoregressive (SETAR) methodology.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods, International financial markets, International topics JEL Code(s): F, F3, F31, F32, G, G1, G15
• December 6, 2011

  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