April 21, 2022 CORRA Advisory Group Meeting (April 21, 2022) Content Type(s): Meetings Source(s): CORRA Advisory Group
May 24, 2022 An Overview of Lynx, Canada’s High-Value Payment System This document provides an overview of Lynx—Canada’s high-value payment system—and summarizes the system’s design. It explains the development and purpose of Lynx as well as the legal and regulatory framework governing its operation. It also describes the various settlement mechanisms and processes Lynx uses to allow system participants to meet their diverse payment needs while ensuring that risks that arise in the system are managed appropriately. Content Type(s): Background materials Topic(s): Payment clearing and settlement systems
Nonparametric Identification of Incomplete Information Discrete Games with Non-equilibrium Behaviors Staff Working Paper 2022-22 Erhao Xie This paper jointly relaxes two assumptions in the literature that estimates games. These two assumptions are the parametric restriction on the model primitives and the restriction of equilibrium behaviors. Without imposing the above two assumptions, this paper identifies the primitives of the game. Content Type(s): Staff research, Staff working papers Topic(s): Econometric and statistical methods JEL Code(s): C, C5, C57
January 25, 2022 CFEC Releases Results of October 2021 Foreign Exchange Volume Survey The Canadian Foreign Exchange Committee (CFEC) released today the results of its October 2021 semi-annual survey of foreign exchange volumes in Canada. Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee
January 17, 2022 Business Outlook Survey―Fourth Quarter of 2021 In the fourth-quarter Business Outlook Survey, reports of supply chain bottlenecks and labour shortages remain elevated. Firms cited robust growth in demand, although those offering hard-to-distance services still had sales below pre-pandemic levels, even before the Omicron variant began spreading broadly. These factors are resulting in upward pressures on prices over the next year. Content Type(s): Publications, Business Outlook Survey
January 14, 2022 Bank of Canada/OSFI pilot helps Canadian financial sector assess climate change risks Media Relations Ottawa, Ontario The Bank of Canada and Office of the Superintendent of Financial Institutions today released the results of a pilot project on climate scenario analysis. Content Type(s): Press, Press releases Topic(s): Climate change
January 14, 2022 Assessing climate change risks to our financial system Ensuring the stability and efficiency of the financial system is a key part of our work at the Bank of Canada. This includes analyzing structural changes that affect the economy—like climate change. These changes could increase vulnerabilities to the financial system. Content Type(s): Publications, Financial System Hub articles
January 10, 2022 Operational details for upcoming secondary market purchases of Government of Canada securities (January 17-28) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
Business Closures and (Re)Openings in Real Time Using Google Places Staff Working Paper 2022-1 Thibaut Duprey, Daniel E. Rigobon, Philip Schnattinger, Artur Kotlicki, Soheil Baharian, T. R. Hurd The COVID-19 pandemic highlighted the need for policy-makers to closely monitor disruptions to the retail and food business sectors. We present a new method to measure business opening and closing rates using real-time data from Google Places, the dataset behind the Google Maps service. Content Type(s): Staff research, Staff working papers Topic(s): Firm dynamics, Recent economic and financial developments JEL Code(s): C, C5, C55, C8, C81, D, D2, D22, E, E3, E32
January 14, 2022 Climate transition scenario data In November 2020, the Bank of Canada launched a pilot project with the Office of the Superintendent of Financial Institutions aimed at better understanding risks to the economy and the financial system related to climate change. Part of this work included developing a set of Canada-relevant climate transition scenarios that explore pathways consistent with achieving certain climate targets.