March 17, 2016 Nominations – from 461 to one iconic Canadian woman A total of 461 iconic Canadian women met the initial qualifying criteria and an independent Advisory Council followed the selection process to produce a long list of 12 women and then a short list of five. On 8 December 2016, the Minister of Finance and the Governor of the Bank of Canada revealed that Viola Desmond will be featured on the new $10 note.
March 15, 2016 Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operations Bank of Canada Announces the Minimum Bid Rate for Today's Term Repo Operation. Content Type(s): Press, Market notices
What Fed Funds Futures Tell Us About Monetary Policy Uncertainty Staff Working Paper 2016-61 Jean-Sébastien Fontaine The uncertainty around future changes to the Federal Reserve target rate varies over time. In our results, the main driver of uncertainty is a “path” factor signaling information about future policy actions, which is filtered from federal funds futures data. Content Type(s): Staff research, Staff working papers Research Topic(s): Asset pricing, Financial markets, Interest rates JEL Code(s): E, E4, E43, E44, E47, G, G1, G12, G13
Non-Bank Investors and Loan Renegotiations Staff Working Paper 2016-60 Teodora Paligorova, João Santos We document that the structure of syndicates affects loan renegotiations. Lead banks with large retained shares have positive effects on renegotiations. In contrast, more diverse syndicates deter renegotiations, but only for credit lines. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial system regulation and policies JEL Code(s): G, G2, G21, G23
December 21, 2016 Key inflation indicators and the target range Data and definitions: Total CPI, CPI-trim, CPI-median, CPI-common and Target Range
Equity Option-Implied Probability of Default and Equity Recovery Rate Staff Working Paper 2016-58 Bo Young Chang, Greg Orosi There is a close link between prices of equity options and the default probability of a firm. We show that in the presence of positive expected equity recovery, standard methods that assume zero equity recovery at default misestimate the option-implied default probability. Content Type(s): Staff research, Staff working papers Research Topic(s): Asset pricing, Financial markets, Market structure and pricing JEL Code(s): G, G1, G13, G3, G33
December 15, 2016 Monitoring Shadow Banking in Canada: A Hybrid Approach Financial System Review - December 2016 Bo Young Chang, Gitanjali Kumar, André Usche, Michael Januska In Monitoring Shadow Banking in Canada: A Hybrid Approach, Bo Young Chang, Michael Januska, Gitanjali Kumar and André Usche discuss how lending that occurs outside the traditional banking system provides benefits to the economy but must be monitored carefully for potential financial sector vulnerabilities. They describe how the Bank defines and measures shadow banking and how it assesses vulnerabilities in the sector, using an approach that examines both markets and entities. Content Type(s): Publications, Financial System Review articles Research Topic(s): Financial institutions, Financial markets, Financial stability JEL Code(s): G, G0, G01, G2, G23