Posts

• Anonymous Credentials: Secret-Free and Quantum-Safe

  Staff Working Paper 2023-50 Raza Ali Kazmi, Cyrus Minwalla

  An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users’ privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism.

  Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Digital currencies and fintech, Payment clearing and settlement systems JEL Code(s): E, E4, E42, G, G2, G21, O, O3, O31

• Should Banks Be Worried About Dividend Restrictions?

  Staff Working Paper 2023-49 Josef Schroth

  A regulator would want to restrict dividends to force banks to rebuild capital during a crisis. But such a policy is not time-consistent. A time-consistent policy would let banks gradually rebuild capital and pay dividends even when their equity remains below pre-crisis levels.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Credit risk management, Financial stability, Financial system regulation and policies, Lender of last resort JEL Code(s): E, E1, E13, E3, E32, E4, E44

• Tattle-tails: Gauging downside risks using option prices

  Staff Analytical Note 2023-13 Greg Adams, Maksym Tupis

  Options markets offer unique insights into the changing risks different assets face, which helps us better understand the broader risks to the Canadian economy. We show how option prices help reveal that investors did not anticipate large downside risks to either major Canadian banks or economic growth during the March 2023 financial sector system stress, a period when policy-makers and investors were unsure of what the future held for Canada’s economy.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Financial markets, Monetary policy and uncertainty, Recent economic and financial developments JEL Code(s): E, E4, E44, E5, E52
• September 25, 2023

  CARR Meeting (September 25, 2023)

  Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
• September 24, 2023

  Unclaimed Properties Office

  

  Search for unclaimed bank balances, make a claim, and check the status of a claim. Learn how and where to redeem your Canada Savings Bonds.
• September 20, 2023

  CFIF Meeting (September 20, 2023)

  Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum

• Digitalization: Definition and Measurement

  Staff Discussion Paper 2023-20 Guyllaume Faucher, Stephanie Houle

  This paper provides an overview of digitalization and its economic implications. We assess the scope of digitalization in Canada as well as the challenges related to its measurement.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Digitalization, Potential output JEL Code(s): E, E0, E01, O, O3, O33, O5, O51
• September 20, 2023

  Summary of Governing Council deliberations: Fixed announcement date of September 6, 2023

  This is an account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on September 6, 2023.

  Content Type(s): Publications, Summary of deliberations
• September 20, 2023

  Release of the Bank of Canada’s summary of deliberations

  On Wednesday, September 20, 2023, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on September 6, 2023.

  Content Type(s): Press, Media advisories
• September 19, 2023

  Household differences and monetary policy

  Speech summary Sharon Kozicki University of Regina Regina, Saskatchewan

  Deputy Governor Sharon Kozicki talks about how differences in debt, income and savings across households shaped their experience through the COVID-19 pandemic and how this is affecting monetary policy now.

  Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Housing, Inflation and prices, Interest rates, Monetary policy transmission, Price stability