Risk-Free Uncollateralized Lending in Decentralized Markets: An Introduction to Flash Loans Staff Discussion Paper 2025-6 Jack Mandin A flash loan is a special type of uncollateralized loan with zero default risk. I document the use for flash loans across major blockchains that are Ethereum-Virtual-Machine-compatible. Flash loans expand access to liquidity, and highly sophisticated actors use them for many practical applications. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Digital currencies and fintech, Financial markets JEL Code(s): G, G0, G1, G2
March 21, 2025 Administrative monetary penalties This supervisory policy provides an overview of the Bank of Canada’s administrative monetary penalties (AMPs) regime and how the Bank determines administrative monetary penalty amounts. Content Type(s): Retail payments supervision materials, Supervisory policies Research Topic(s): Enforcement, Registration
March 21, 2025 Retail payments supervision: Supervisory policies and guidelines Access all supervisory policies and guidelines on registration, supervision and enforcement related to the Retail Payment Activities Act and the Retail Payment Activities Regulations.
March 20, 2025 Speech by Tiff Macklem, Governor of the Bank of Canada On Thursday, March 20, 2025, Tiff Macklem, Governor of the Bank of Canada, will speak before Calgary Economic Development. Content Type(s): Press, Media advisories
March 20, 2025 Navigating tariff uncertainty Remarks Tiff Macklem Calgary Economic Development Calgary, Alberta Governor Tiff Macklem discusses how the US trade conflict and uncertainty is hurting business and consumer confidence. He also outlines what the Bank is doing to ensure the trade conflict doesn’t cause widespread or persistent inflation. Content Type(s): Press, Speeches and appearances Research Topic(s): Inflation and prices, International topics, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration
March 20, 2025 Tariffs and trade uncertainty are hurting the Canadian economy Speech summary Tiff Macklem Calgary Economic Development Calgary, Alberta Governor Tiff Macklem discusses how uncertainty about the trade war with the United States has shaken businesses and consumer confidence. He also reiterates that the Bank of Canada must ensure that high prices from tariffs do not lead to ongoing inflation. Content Type(s): Press, Speeches and appearances, Speech summaries Research Topic(s): Inflation and prices, International topics, Monetary policy and uncertainty, Recent economic and financial developments, Regional economic developments, Trade integration
March 19, 2025 The Uses and Limitations of CORRA Transparency Metrics: Beyond Percentiles and Volumes Publishing additional measures of central tendency, such as the mean and mode, alongside CORRA (median) enhances transparency about the shape of the distribution of CORRA-eligible trades.