June 23, 2008 Real Estate, Mortgage Markets, and Monetary Policy Remarks Sheryl Kennedy Investment Industry Association of Canada Banff, Alberta For many Canadians, one of the most important investments they'll make is the purchase of a house. And for you as financial market professionals, the links between the housing market and financial markets have important consequences. Content Type(s): Press, Speeches and appearances, Remarks
June 21, 2008 Bank of Canada Participation in the 2007 FSAP Macro Stress-Testing Exercise Financial System Review - June 2008 Donald Coletti, René Lalonde, Miroslav Misina, Dirk Muir, Pierre St-Amant, David Tessier Content Type(s): Publications, Financial System Review articles
June 21, 2008 The Role of Credit Ratings in Managing Credit Risk in Federal Treasury Activities Financial System Review - June 2008 Nancy Harvey, Mervin Merkowsky Content Type(s): Publications, Financial System Review articles
June 21, 2008 Financial Market Turmoil and Central Bank Intervention Financial System Review - June 2008 Walter Engert, Jack Selody, Carolyn A. Wilkins In this article, we consider central bank intervention to address financial market turmoil with a focus on the questions of why, when, and how a central bank might intervene. We set out a policy framework and identify appropriate central bank instruments to respond to extraordinary financial market turmoil, consistent with central bank policy goals and functions. Content Type(s): Publications, Financial System Review articles
June 21, 2008 A Model of Tiered Settlement Networks Financial System Review - June 2008 James Chapman, Jonathan Chiu, Miguel Molico Content Type(s): Publications, Financial System Review articles
June 21, 2008 The Effects of a Disruption in CDSX Settlement on Activity in the LVTS: A Simulation Study Financial System Review - June 2008 Lana Embree, Kirby Millar Content Type(s): Publications, Financial System Review articles
June 21, 2008 Family Values: Ownership Structure, Performance, and Capital Structure of Canadian Firms Financial System Review - June 2008 Michael R. King, Eric Santor Content Type(s): Publications, Financial System Review articles
June 21, 2008 Financial System Review - June 2008 Although there has been some improvement in conditions over the past several weeks, strains in global credit markets have broadened since December.FSR Highlights - June 2008 Errata: Some factual errors in the June report "Bank of Canada Oversight Activities during 2007 under the Payment Clearing and Settlement Act" have been corrected. They concern (i) clarification of the U.S. Federal Reserve as lead overseer of CLS Bank and (ii) the steps taken by CDS on 14 August 2007 to assist issuers and participants holding defaulted ABCP. Content Type(s): Publications, Financial Stability Report
June 21, 2008 Bank of Canada Oversight Activities during 2007 under the Payment Clearing and Settlement Act Financial System Review - June 2008 Walter Engert, Dinah Maclean Content Type(s): Publications, Financial System Review articles
June 20, 2008 The Canadian Debt-Strategy Model Bank of Canada Review - Summer 2008 David Bolder In its role as fiscal agent to the government, the Bank of Canada provides analysis and advice on decisions about the government's domestic debt portfolio. Debt-management decisions depend on assumptions about future interest rates, macroeconomic outcomes, and fiscal policy, yet when a debt-strategy decision is taken, none of these factors can be known with certainty. Moreover, the government has various financing options (i.e., treasury bills, nominal bonds, and inflation-linked bonds) to meet its objectives of minimizing debt-service charges while simultaneously ensuring a prudent risk profile and well-functioning government securities markets. Bank of Canada staff have therefore developed a mathematical model to assist in the decision-making process. This article describes the key aspects of the debt manager's challenge and the principal assumptions incorporated in the debt-strategy model, illustrated with specific results. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Debt management, Economic models, Fiscal policy