Unregulated Lending, Mortgage Regulations and Monetary Policy Staff Working Paper 2022-28 Ugochi Emenogu, Brian Peterson This paper evaluates the effectiveness of macroprudential policies when regulations are uneven across mortgage lender types. We look at credit tightening that results from macroprudential regulations and examine how much of it is counteracted by credit shifting to unregulated lenders. We also study the impact of monetary policy tightening when some lenders are unregulated. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Financial system regulation and policies, Monetary policy transmission JEL Code(s): E, E4, E44, E5, E50, E52, E58, G, G2, G21, G23, G28
June 27, 2022 CARR Meeting (June 27, 2022) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
Potential netting benefits from expanded central clearing in Canada’s fixed-income market Staff Analytical Note 2022-8 Jessie Ziqing Chen, Johannes Chen, Shamarthi Ghosh, Manu Pandey, Adrian Walton We assess whether more central clearing would enhance the resilience of Canadian fixed-income markets. Our analysis estimates the potential benefits of balance sheet netting under scenarios where central clearing is expanded to new participants. Content Type(s): Staff research, Staff analytical notes Topic(s): Credit risk management, Financial institutions, Financial markets JEL Code(s): D, D4, G, G1, G12, G2, G21, G29
June 22, 2022 Deputy Governor Timothy Lane to Retire from the Bank of Canada Media Relations Ottawa, Ontario The Bank of Canada announced today that Deputy Governor Timothy Lane will retire on September 16, 2022. Content Type(s): Press, Press releases
June 21, 2022 CFIF Meeting (June 21, 2022) Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
Analyzing the house price boom in the suburbs of Canada’s major cities during the pandemic Staff Analytical Note 2022-7 Louis Morel We assess how location affects house prices in Canada. The gap in prices between suburbs and downtown was closing gradually before the pandemic. The gap has been closing faster since spring 2020. This finding reflects a shift in preferences toward more living space. Content Type(s): Staff research, Staff analytical notes Topic(s): Asset pricing, Coronavirus disease (COVID-19), Financial stability, Housing JEL Code(s): R, R2, R21, R23, R3, R32