Uncategorized

• May 19, 2011

  The Changing Face of Risk in the Global Financial System

  Remarks Timothy Lane Canadian Pension & Benefits Institute Vancouver, British Columbia

  I know that risk is ever-present in your work, as you fulfill your commitments to the beneficiaries and sponsors of your pension plans. Important risks surround the investment performance of those plans, as well as the value of pension liabilities.

  Content Type(s): Press, Speeches and appearances, Remarks
• May 19, 2011

  Lessons from the Use of Extraordinary Central Bank Liquidity Facilities

  Bank of Canada Review - Spring 2011 Stéphane Lavoie, Alex Sebastian, Virginie Traclet

  The recent crisis was characterized by widespread deterioration in funding conditions, as well as impairment of the mechanism through which liquidity is normally redistributed within the financial system. Central banks responded with extraordinary measures. This article examines the provision of liquidity by central banks during the crisis as they adapted their existing facilities and introduced new ones, while encouraging a return to private markets and mitigating moral hazard. A review of this experience illustrates the importance of clear principles for intervention, a flexible operating framework, and clear communication and co-operation by central banks. By exposing the degree of interdependence of financial institutions and markets, the crisis highlighted the need for reforms aimed at improving the infrastructure supporting core funding markets and the liquidity of individual institutions.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial markets, Financial stability, Lender of last resort

• Bank Loans for Private and Public Firms in a Credit Crunch

  Staff Working Paper 2011-13 Jason Allen, Teodora Paligorova

  Banks reliance on short-term funding has increased over time. While an effective source of financing in good times, the 2007 financial crisis has exposed the vulnerability of banks and ultimately firms to such a liability structure.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): G, G0, G01, G2, G20
• May 16, 2011

  Canada in a Multi-Polar World

  Remarks Mark Carney Canadian Club of Ottawa Ottawa, Ontario

  Governor Mark Carney discusses the forces that are transforming the global economic landscape and their implications for the Canadian economy.

  Content Type(s): Press, Speeches and appearances, Remarks

• The Canadian Debt-Strategy Model: An Overview of the Principal Elements

  Staff Discussion Paper 2011-3 David Bolder, Simon Deeley

  The Canadian Debt Strategy Model helps debt managers determine their optimal financing strategy. The model’s code and documentation are available to the public.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Debt management, Econometric and statistical methods, Financial markets, Fiscal policy JEL Code(s): C, C0, G, G1, G11, G17, H, H6, H63
• May 6, 2011

  Monetary Policy and Resource Mobility

  Presentation Mark Carney Bank of Finland’s 200th Anniversary Conference Helsinki , Finland

  Mark Carney, Governor of the Bank of Canada, comments on “Monetary Policy and Resource Mobility,” a paper by Carl E. Walsh

  Content Type(s): Press, Speeches and appearances, Presentations
• April 13, 2011

  Release of the Monetary Policy Report

  Opening statement Mark Carney Ottawa, Ontario

  As anticipated in January, the global economic recovery is becoming more firmly entrenched and is expected to continue at a steady pace. In the United States, growth is solidifying, although consolidation of household and ultimately government balance sheets will limit the pace of the expansion.

  Content Type(s): Press, Speeches and appearances, Opening statements
• April 13, 2011

  Monetary Policy Report – April 2011

  

  This is a report of the Governing Council of the Bank of Canada: Mark Carney, Tiff Macklem, John Murray, Timothy Lane, Jean Boivin and Agathe Côté. It presents the Bank’s outlook based on data received up to 8 April 2011.

  Content Type(s): Publications, Monetary Policy Report
• April 12, 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
• April 4, 2011

  Business Outlook Survey - Spring 2011

  Businesses remain positive about the economic outlook, although some forward-looking indicators have eased from the levels recorded in recent surveys, and the strength in commodity prices has raised expectations for costs and inflation.

  Erratum: Please note that the legend for Chart 9 (French version only) should read as follows: au-dessus de 3 % , rather than au-dessous de 3 %

  Content Type(s): Publications, Business Outlook Survey