How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange Staff Working Paper 2008-47 Ron Alquist This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt. Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): F, F2, F21, F3, F34, F36, G, G1, G12, G15
December 8, 2008 Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments The minimum bid rate for today's 13-day Term PRA Facility for Private Sector Money Market Instruments is 2.675%. Content Type(s): Press, Market notices
December 6, 2008 Beads to Bytes: Canada's National Currency Collection This volume explores money and the role it has played, and continues to play, in society, through the lens of Canada's National Currency Collection. The Collection is an extraordinary repository of coins, bank notes, and related paraphernalia from around the world. Soft cover, 124 pages (2008). Content Type(s): Publications, Books and monographs, Souvenir books Topic(s): Bank notes
December 5, 2008 Bank of Canada Announces Details of its Term PRA Facility for Private Sector Money Market Instruments In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector money market instruments announced on 28 November, the Bank of Canada announced today that it will enter into a 13-day term PRA transaction for private sector money market instruments as follows: Content Type(s): Press, Market notices
December 4, 2008 Results of the 4 December 2008 Sale of Treasury Bills for Balance Sheet Management Purposes Results of the 4 December 2008 Sale of Treasury Bills. Content Type(s): Press, Market notices
December 2, 2008 Results of the 2 December 2008 Term PRA Transaction The results of today's term PRA operations are as follows: Content Type(s): Press, Market notices
Indebtedness and the Household Financial Health: An Examination of the Canadian Debt Service Ratio Distribution Staff Working Paper 2008-46 Umar Faruqui The household debt-to-disposable income ratio in Canada increased from 110 per cent in 1999 to 127 per cent in 2007. This increase has raised questions about the ability of households to service their increased debt if faced with a negative economic or socio-economic shock. Content Type(s): Staff research, Staff working papers Topic(s): Financial stability, Monetary and financial indicators JEL Code(s): D, D1, D11, D14, D3, D39
December 1, 2008 Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes The Bank of Canada announced today it will sell $0.90 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the outstanding term liquidity facilities. Details of the transaction are as follows: Content Type(s): Press, Market notices
December 1, 2008 Bank of Canada Announces Details of its Future Term PRA Transactions Since 19 September 2008, the Bank of Canada has conducted eleven Purchase and Resale Agreement (PRA) operations to provide liquidity to Canadian term lending markets. The Bank will continue to extend term liquidity to the market and today is publishing the schedule of its term PRA operations to the end of January. Content Type(s): Press, Market notices
December 1, 2008 Results of the 1 December 2008 Term PRA Transaction for Private Sector Money Market Instruments The results of today's term PRA operations are as follows: Content Type(s): Press, Market notices