July 16, 2019 Bank of Canada to become the administrator of key interest rate benchmark Media Relations Ottawa, Ontario The Bank of Canada today announced its intention to become the administrator of the Canadian Overnight Repo Rate Average (CORRA), a key interest rate benchmark for financial markets. Content Type(s): Press, Press releases Source(s): Canadian Alternative Reference Rate Working Group
March 27, 2019 Release of the 2018 Bank of Canada FMI Oversight Activities Annual Report The Bank of Canada today published the Bank of Canada Oversight Activities for Financial Market Infrastructures 2018 Annual Report (the Report) on its oversight of payment clearing and settlement systems, which are also known as financial market infrastructures (FMIs). Content Type(s): Press, Market notices
Non-Bank Financial Intermediation in Canada: An Update Staff Discussion Paper 2019-2 Guillaume Bédard-Pagé Non-bank financing provides an important funding source for the economy and is a valuable alternative to traditional banking. It helps enhance the efficiency and resiliency of the financial system while giving customers more choices for their financial services. Unlike banking, it is not prudentially regulated. Content Type(s): Staff research, Staff discussion papers Research Topic(s): Financial institutions, Financial markets, Financial stability JEL Code(s): G, G0, G01, G2, G20, G23
March 18, 2019 Fellowship Program Learn about the 2019 recipients of the Fellowship and Governor’s Awards. Content Type(s): Press, Announcements Source(s): Fellowship Program
March 14, 2019 The Age of Leverage Remarks Carolyn A. Wilkins UBC Vancouver School of Economics and CFA Society Vancouver Vancouver, British Columbia Senior Deputy Governor Carolyn A. Wilkins discusses how high leverage is both a headwind to global growth and a vulnerability in the global financial system. Content Type(s): Press, Speeches and appearances, Remarks Research Topic(s): Balance of payments and components, Credit risk management, Financial institutions, Financial stability, Financial system regulation and policies, Fiscal policy
Limiting Sender’s Information in Bayesian Persuasion Staff Working Paper 2019-10 Shota Ichihashi This paper studies how the outcome of Bayesian persuasion depends on a sender’s information. I study a game in which, prior to the sender’s information disclosure, the designer can restrict the most informative signal that the sender can generate. Content Type(s): Staff research, Staff working papers Research Topic(s): Economic models JEL Code(s): D, D8, D82, D83
The Trend Unemployment Rate in Canada: Searching for the Unobservable Staff Working Paper 2019-13 Dany Brouillette, Marie-Noëlle Robitaille, Laurence Savoie-Chabot, Pierre St-Amant, Bassirou Gueye, Elise Nelson In this paper, we assess several methods that have been used to measure the Canadian trend unemployment rate (TUR). We also consider improvements and extensions to some existing methods. Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Economic models, Inflation and prices, Labour markets JEL Code(s): C, C5, C52, C53, E, E2, E24, E27