May 14, 2015
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2360
result(s)
May 14, 2015
Improving the Foundation of Canada’s Payments System
The Canadian payments environment has evolved with enhancements in technology, changes in user expectations and new regulatory standards. In response, the existing regulatory framework and core payments infrastructure are being enhanced. This article describes several revisions to the governance and regulation of the payments system as well as plans to update the core payments infrastructure. These initiatives will position the Canadian payments system to more effectively support a modern and vibrant economy by serving the payments needs of Canadians safely and efficiently as the payments industry continues to evolve.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
E,
E4,
E42,
G,
G2,
G28
May 14, 2015
The “Bank” at the Bank of Canada
In this article, we describe the various types of banking services (payments, settlement and safekeeping) that the Bank of Canada provides to different types of clients (the Government of Canada, financial market infrastructures, financial institutions, foreign central banks and the Canada Deposit Insurance Corporation). We also explain the reasons the Bank provides these services and how this role supports its core mandates, in particular financial stability. Finally, we explore the factors driving the growth and evolution in the provision of these banking services.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Financial services,
Foreign reserves management,
Payment clearing and settlement systems
JEL Code(s):
E,
E5,
E50,
G,
G2,
G20
May 14, 2015
The Use of Cash in Canada
The Bank of Canada’s 2013 Methods-of-Payment Survey indicates that the share of cash in the overall number of retail transactions has continued to decrease, mainly because of increased use of contactless credit cards. The share of cash in the total value of retail transactions was virtually unchanged from 2009 to 2013. In particular, the value share of cash transactions above $50 increased. Automated banking machines (ABMs), still the major source of cash for Canadians, were used less often in 2013 than in 2009. Cash use in Canada is broadly similar to that in Australia and the United States.
Content Type(s):
Publications,
Bank of Canada Review articles
Topic(s):
Bank notes,
Digital currencies and fintech,
Econometric and statistical methods,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
C,
C8,
C83,
E,
E4,
E42,
G,
G2,
G21,
L,
L8,
L81
Variance Estimation for Survey-Weighted Data Using Bootstrap Resampling Methods: 2013 Methods-of-Payment Survey Questionnaire
Technical Report No. 104
Heng Chen,
Rallye Shen
Sampling units for the 2013 Methods-of-Payment Survey were selected through an approximate stratified random sampling design. To compensate for non-response and non-coverage, the observations are weighted through a raking procedure.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Econometric and statistical methods
JEL Code(s):
C,
C8,
C83
Household Stockholding Behavior During the Great Financial Crisis
Staff Working Paper 2015-15
Jie Zhou
Using the Panel Study of Income Dynamics, this paper studies household stock market participation and trading behavior in 2007–09, a period that saw a major stock market downswing. The stock market participation rate fell after the market crash.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
Financial markets
JEL Code(s):
G,
G0,
G01,
G1,
G11
2013 Methods-of-Payment Survey: Sample Calibration Analysis
Technical Report No. 103
Kyle Vincent
Sample calibration is a procedure that utilizes sample and national-level demographic distribution information to weight survey participants. The objective of calibration is to weight the sample so that it is demographically representative of the target population.
Content Type(s):
Staff research,
Technical reports
Topic(s):
Central bank research
JEL Code(s):
C,
C8,
C81,
C83
A Wake-Up-Call Theory of Contagion
Staff Working Paper 2015-14
Christoph Bertsch,
Toni Ahnert
We propose a novel theory of financial contagion. We study global coordination games of regime change in two regions with an initially uncertain correlation of regional fundamentals.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Exchange rates,
Financial stability,
International financial markets
JEL Code(s):
D,
D8,
D82,
F,
F3,
G,
G0,
G01
Euro Area Government Bonds—Integration and Fragmentation During the Sovereign Debt Crisis
Staff Working Paper 2015-13
Michael Ehrmann,
Marcel Fratzscher
The paper analyzes the integration of euro area sovereign bond markets during the European sovereign debt crisis. It tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in spillovers) and flight-to-quality patterns, exploiting the heteroskedasticity of intraday changes in bond yields for identification.
Content Type(s):
Staff research,
Staff working papers
Topic(s):
Asset pricing,
Financial markets,
Interest rates,
International financial markets
JEL Code(s):
E,
E5,
F,
F3,
G,
G1,
G15
2013 Methods-of-Payment Survey Results
Staff Discussion Paper 2015-4
Christopher Henry,
Kim Huynh,
Rallye Shen
As the sole issuer of bank notes, the Bank of Canada conducts methods-of-payment (MOP) surveys to obtain a detailed and representative snapshot of Canadian payment choices, with a focus on cash usage.
Content Type(s):
Staff research,
Staff discussion papers
Topic(s):
Bank notes,
Digital currencies and fintech
JEL Code(s):
E,
E4