G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages

• Managing Operational Risk in Payment, Clearing, and Settlement Systems

  Staff Working Paper 2003-2 Kim McPhail

  Awareness of operational risk has increased greatly in recent years, both at individual financial institutions and for payment, clearing, and settlement systems (PCSS). PCSS consist of networks of interconnected elements (i.e., central operators, participants, and settlement agents); operational problems at any one of the key elements have the potential to disrupt the system as a whole and negatively affect financial stability.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E44, G, G2, G21

• Estimating Settlement Risk and the Potential for Contagion in Canada's Automated Clearing Settlement System

  Staff Working Paper 2002-41 Carol Ann Northcott

  Payments systems operate virtually unnoticed in our daily lives and yet are crucial to a wellfunctioning economy and financial system.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E44, G, G2, G21

• How Do Canadian Banks That Deal in Foreign Exchange Hedge Their Exposure to Risk?

  Staff Working Paper 2002-34 Chris D'Souza

  This paper examines the daily hedging and risk-management practices of financial intermediaries in the Canadian foreign exchange (FX) market.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial markets, Market structure and pricing JEL Code(s): F, F3, F31, G, G1, G14, G2, G21

• Financial Structure and Economic Growth: A Non-Technical Survey

  Staff Working Paper 2002-24 Veronika Dolar, Césaire Meh

  There is a large body of literature that studies the relationship between financial structure (that is, the degree to which the financial system is either market- or intermediary-based) and long-run economic growth.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, Economic models, Financial institutions, Financial markets, Financial services JEL Code(s): F, F3, F36, G, G0, G00, G1, G14, G2, G21, K, K2, K22, O, O1, O16

• A Market Microstructure Analysis of Foreign Exchange Intervention in Canada

  Staff Working Paper 2002-16 Chris D'Souza

  This paper clarifies the role and the impact of foreign exchange dealers in the relationship between foreign exchange intervention and nominal exchange rates using a unique dataset that disaggregates trades by dealer and by type of trade.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Financial institutions, Financial markets JEL Code(s): F, F3, F31, G, G1, G14, G2, G21

• Modelling Financial Instability: A Survey of the Literature

  Staff Working Paper 2002-12 Alexandra Lai

  The magnitude and frequency of recent financial crises underscore the importance of understanding financial instability for the purpose of crisis prevention and crisis management.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial markets, Financial services JEL Code(s): G, G2, G20, G21, G28