BoC–BoE Sovereign Default Database: Methodology and Assumptions Technical Report No. 124 David Beers, Obiageri Ndukwe, Alex Charron The Bank of Canada (BoC), in partnership with the Bank of England (BoE), developed a comprehensive database of sovereign defaults in 2014. The database is posted on the Bank of Canada’s website and updated annually. The BoC–BoE database draws on datasets published by various public and private sector sources. It combines elements of these, together with new information, to develop comprehensive estimates of stocks of government obligations in default. Content Type(s): Staff research, Technical reports Topic(s): Debt management, Development economics, Financial stability, International financial markets JEL Code(s): F, F3, F34, G, G1, G10, G14, G15
What we can learn by linking firms’ reported emissions with their financial data Staff Analytical Note 2023-4 Matthew Ackman, Timothy Grieder, Callie Symmers, Geneviève Vallée We analyze the financial statements and stock prices of publicly traded firms incorporated in Canada that report greenhouse gas emissions. We find that these firms primarily use equity financing. We also find that equity investors increasingly account for firms’ emissions when making investment decisions but the impact appears small. This suggests that assets exposed to climate change remain at risk of a sudden repricing. Content Type(s): Staff research, Staff analytical notes Topic(s): Asset pricing, Climate change, Financial stability, Firm dynamics JEL Code(s): G, G1, G3, Q, Q5
Turning Words into Numbers: Measuring News Media Coverage of Shortages Staff Discussion Paper 2023-8 Lin Chen, Stephanie Houle We develop high-frequency, news-based indicators using natural language processing methods to analyze news media texts. Our indicators track both supply (raw, intermediate and final goods) and labour shortages over time. They also provide weekly time-varying topic narratives about various types of shortages. Content Type(s): Staff research, Staff discussion papers Topic(s): Coronavirus disease (COVID-19), Econometric and statistical methods, Monetary policy and uncertainty, Recent economic and financial developments JEL Code(s): C, C5, C55, C8, C82, E, E3, E37
April 3, 2023 The Bank of Canada releases the first quarter issues of the Business Outlook Survey and the Canadian Survey of Consumer Expectations On Monday, April 3, 2023, the Bank of Canada will release the first quarter issue of the Business Outlook Survey and the latest results of the Canadian Survey of Consumer Expectations. Content Type(s): Press, Media advisories
March 19, 2023 Coordinated Central Bank Action to Enhance the Provision of U.S. Dollar Liquidity The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. Content Type(s): Press, Announcements
March 20, 2023 Bank of Canada announces the recipients of the 2023 Fellowship Program Awards Learn about the recipients of the Fellowship and Governor’s Awards for 2023. Content Type(s): Press, Announcements Source(s): Fellowship Program
March 22, 2023 Release of the Bank of Canada’s summary of deliberations On Wednesday, March 22, 2023, the Bank of Canada will publish a summary of the deliberations that took place ahead of its interest rate decision on March 8, 2023. Content Type(s): Press, Media advisories
We Didn’t Start the Fire: Effects of a Natural Disaster on Consumers’ Financial Distress Staff Working Paper 2023-15 Anson T. Y. Ho, Kim Huynh, David T. Jacho-Chávez, Geneviève Vallée We use detailed consumer credit data to investigate the impact of the 2016 Fort McMurray wildfire, the costliest wildfire disaster in Canadian history, on consumers’ financial stress. We focus on the arrears of insured mortgages because of their important implications for financial institutions and insurers’ business risk and relevant management practices. Content Type(s): Staff research, Staff working papers Topic(s): Climate change, Credit and credit aggregates, Econometric and statistical methods, Financial stability JEL Code(s): C, C2, C21, D, D1, D12, G, G2, G21, Q, Q5, Q54
February 27, 2023 CARR Meeting (February 27, 2023) Content Type(s): Meetings Source(s): Canadian Alternative Reference Rate Working Group
February 24, 2023 Bank of Canada announces 2022–23 scholarship recipients Media Relations Ottawa, Ontario The Bank of Canada is pleased to announce this year’s recipients of its scholarship awards for students with disabilities, Indigenous students, LGBTQ2S+ students, francophones and students who identify as a woman or as a member of a visible minority or racialized group. Content Type(s): Press, Press releases Source(s): Scholarship awards