Uncategorized

• December 12, 2007

  Expansion of List of Securities Eligible as Collateral for Use Under Bank of Canada Standing Liquidity Facility

  Under its Standing Liquidity Facility (SLF), the Bank of Canada is prepared to provide liquidity on a daily basis to financial institutions that participate directly in the payments systems operated by the Canadian Payments Association. Loans made by the Bank of Canada must be fully collateralized.

  Content Type(s): Press, Market notices
• December 12, 2007

  Bank of Canada Temporarily Expands List of Securities Eligible for Term PRA Transactions

  Today, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing measures designed to address elevated pressures in short-term funding markets.

  Content Type(s): Press, Market notices
• December 10, 2007

  Reflections on Developments in the Canadian Financial System

  Remarks David Dodge Canadian Club of Toronto and the Empire Club of Canada Toronto, Ontario

  It has become a tradition that I deliver a speech late in the year on issues related to the financial system. When I say "financial system," I mean financial institutions and markets, together with the clearing and settlement systems through which financial assets flow.

  Content Type(s): Press, Speeches and appearances, Remarks
• December 6, 2007

  More Than Money: Architecture and Art at the Bank of Canada

  

  This volume will take you on a tour of the head office complex, highlighting interesting features of architecture, interior design, and decoration, as well as elements of restoration and preservation. It also features pieces from the Bank's art collection. Soft cover, 128 pages (2007).

  Content Type(s): Publications, Books and monographs, Souvenir books
• December 6, 2007

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement David Dodge Standing Senate Committee on Banking, Trade and Commerce

  In Canada, we were looking for weaker economic growth in the fourth quarter of this year and the first half of 2008, but some strengthening thereafter. As you can see from Table 2, we were expecting continued strong final domestic demand throughout the projection period, but considerably weaker net exports.

  Content Type(s): Press, Speeches and appearances, Opening statements
• December 5, 2007

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Mark Carney House of Commons Standing Committee on Finance

  Over time, it has become clear that the best contribution monetary policy can make to the promotion of the economic and financial welfare of Canada is to keep inflation low, stable, and predictable.

  Content Type(s): Press, Speeches and appearances, Opening statements
• December 4, 2007

  Bank of Canada lowers overnight rate target by 1/4 percentage point to 4 1/4 per cent

  Media Relations Ottawa, Ontario

  The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent.

  Content Type(s): Press, Press releases

• Uncertainty and the Specificity of Human Capital

  Staff Working Paper 2007-57 Martin Gervais, Igor Livshits, Césaire Meh

  This paper studies the choice between general and specific human capital. A trade-off arises because general human capital, while less productive, can easily be reallocated across firms.

  Content Type(s): Staff research, Staff working papers Topic(s): Economic models JEL Code(s): D, D9, D92, J, J2, J24, J4, J41, J6, J62

• Estimation and Inference by the Method of Projection Minimum Distance

  Staff Working Paper 2007-56 Òscar Jordà, Sharon Kozicki

  A covariance-stationary vector of variables has a Wold representation whose coefficients can be semi-parametrically estimated by local projections (Jordà, 2005). Substituting the Wold representations for variables in model expressions generates restrictions that can be used by the method of minimum distance to estimate model parameters.

  Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C3, C32, C5, C53, E, E4, E47
• November 20, 2007

  Managing Risks to Financial System Stability

  Remarks Pierre Duguay CFA Québec Québec, Québec

  The recent dislocations in credit markets have brought these issues into sharp focus. Among other things, the market turbulence has highlighted the critical role that confidence and liquidity play in financial markets.

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