Uncategorized

• October 1, 2008

  Results of the 1 October 2008 Term PRA Transaction

  Results of today's term PRA operations.

  Content Type(s): Press, Market notices
• September 30, 2008

  Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes

  The Bank of Canada announced today it will sell $4.0 billion of its holdings of treasury bills.

  Content Type(s): Press, Market notices
• September 30, 2008

  Bank of Canada Announces Details of its 28 Day Term PRA Transaction

  In light of increased pressures in term lending markets, the Bank of Canada announced today that it will enter into a 28-day Purchase and Resale Agreement (PRA) transaction as follows:

  Content Type(s): Press, Market notices
• September 29, 2008

  Bank of Canada Announces Expansion of the Swap Facility with U.S. Federal Reserve as part of Coordinated Central Bank Actions

  In response to continued strains in short-term funding markets, central banks today are announcing further coordinated actions to expand significantly the capacity to provide U.S. dollar liquidity.

  Content Type(s): Press, Market notices

• Combining Canadian Interest-Rate Forecasts

  Staff Working Paper 2008-34 David Bolder, Yuliya Romanyuk

  Model risk is a constant danger for financial economists using interest-rate forecasts for the purposes of monetary policy analysis, portfolio allocations, or risk-management decisions. Use of multiple models does not necessarily solve the problem as it greatly increases the work required and still leaves the question "which model forecast should one use?"

  Content Type(s): Staff research, Staff working papers Research Topic(s): Econometric and statistical methods, Interest rates JEL Code(s): C, C1, C11, E, E4, E43, E47
• September 25, 2008

  Bank of Canada Announces Term PRA Transactions

  In light of ongoing pressures in term lending markets, the Bank of Canada will provide additional liquidity through term Purchase and Resale Agreements (term PRAs) according to the following schedule:

  Content Type(s): Press, Market notices

• The Impact of Sovereign Wealth Funds on International Financial Stability

  Staff Discussion Paper 2008-14 Tamara Gomes

  Over the recent period, many emerging-market economies and commodity-exporting nations have experienced unprecedented growth and accumulated substantial amounts of foreign exchange reserves. The management of these foreign reserves has led to the emergence of important financial actors: sovereign wealth funds (SWFs).

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial stability, Recent economic and financial developments JEL Code(s): F, F2, F21, F3, F31, F32, G, G1, G15

• What To Do about Bilateral Credit Limits in the LVTS When a Closure Is Anticipated: Risk versus Liquidity Sharing among LVTS Participants

  Staff Discussion Paper 2008-13 Sean O'Connor, Greg Caldwell

  The authors examine the effect of a trade-off between shared credit risk and liquidity efficiency, among participants in Tranche 2 of the Large Value Transfer System (LVTS T2), on their decisions to leave open, or close, their bilateral credit limits (BCLs) to a participant at risk of imminent closure.

  Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Financial services, Payment clearing and settlement systems JEL Code(s): G, G2, G21, L, L1, L13, L14
• September 25, 2008

  Reflections on Recent International Economic Developments

  Remarks Mark Carney Canadian Club of Montreal Montréal, Quebec

  The events of the past few weeks in global financial markets have been dramatic. Money and credit markets seized up. There was a massive flight to the safety of the highest quality of government debt.

  Content Type(s): Press, Speeches and appearances, Remarks
• September 23, 2008

  Bank of Canada Announces Term PRA Transactions

  As part of its provision of liquidity in support of the efficient functioning of financial markets, the Bank of Canada announced today that it will enter into the following 84-day and 27-day term Purchase and Resale Agreements (term PRA) against an expanded listed of eligible securities:1

  Content Type(s): Press, Market notices