Authors

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Etienne Lessard is a Director in the Financial Markets Department of the Bank of Canada.

Department(s): Financial Markets, Foreign Reserves Management

Shaoteng Li is a Senior Economist in the Financial Stability Department at the Bank of Canada.

Department(s): Financial Stability, Financial Studies Research Field(s): Banking, Household Finance, Industrial Organization

Jiaqi Li is a Senior Economist in the Banking and Payments Department (BAP).

Department(s): Banking and Payments, Research

Corporate governance