November 17, 2016 Bank of Canada Review - Autumn 2016 What is the role of central banks in financial stability? How has this role changed in recent years? Bank researchers share their insights on this matter and provide an overview of recent changes the Bank has made to its Emergency Lending Assistance Policy. Researchers also provide a history of four major commodity supercycles, dating back to the early 1900s. Finally, there is discussion about structural reforms in emerging-market economies, such as China, and how these reforms influence potential growth. Content Type(s): Publications, Bank of Canada Review
The Elements of the Global Network for Large-Value Funds Transfers Staff Working Paper 2001-1 James Dingle The author describes the various elements of the global payment network for large-value funds transfers (G-LVTN) in order to provide a convenient reference document intended for readers in the academic, legal, and financial communities. Content Type(s): Staff research, Staff working papers Topic(s): Payment clearing and settlement systems JEL Code(s): E, E4, E40, E6, E61
Reviewing Canada’s Monetary Policy Implementation System: Does the Evolving Environment Support Maintaining a Floor System? Staff Discussion Paper 2023-10 Toni Gravelle, Ron Morrow, Jonathan Witmer At the onset of the pandemic, the Bank of Canada transitioned its framework for monetary policy implementation from a corridor system to a floor system, which it has since decided to maintain. We provide a comprehensive analysis of both frameworks and assess their relative merits based on five key criteria that define a sound framework. Content Type(s): Staff research, Staff discussion papers Topic(s): Market structure and pricing, Monetary policy implementation, Payment clearing and settlement systems JEL Code(s): D, D4, D47, E, E4, E42, E5, E58
June 17, 2016 Fintech and the Financial Ecosystem: Evolution or Revolution? Remarks Carolyn A. Wilkins Payments Canada Calgary, Alberta Senior Deputy Governor Carolyn Wilkins calls for the public and private sectors to work closely together to realize fintech’s full benefits and minimize its risks. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Digital currencies and fintech, Financial institutions, Financial services, Financial stability, Financial system regulation and policies, Payment clearing and settlement systems
March 23, 2017 Annual Report 2016 The Annual Report outlines the Bank’s activities and achievements in 2016. It includes the financial statements and a message from Governor Stephen S. Poloz. Content Type(s): Publications, Annual Report
November 17, 2011 Bank of Canada Review - Autumn 2011 This issue features four articles that present research and analysis by Bank staff. The first focuses on reforming the international monetary system; the second on the role of collateral and haircut policy in central bank lending; and the third on the extraction of information from the Business Outlook Survey using principal-component analysis. The fourth reviews studies that model the counterfeiting of bank notes. Content Type(s): Publications, Bank of Canada Review
May 16, 2016 Bank of Canada Review - Spring 2016 This issue focuses on the upcoming renewal of Canada’s inflation-control target. Bank researchers discuss the estimate of the lower bound to policy interest rates in Canada. They also discuss downward nominal wage rigidity and whether its presence warrants considering a higher inflation target. The third article highlights the experience some international central banks have had with unconventional monetary policies. The final article describes monetary policy frameworks in 10 advanced economies. Content Type(s): Publications, Bank of Canada Review
Prudential Liquidity Regulation in Banking—A Literature Review Staff Discussion Paper 2018-8 Adi Mordel Prudential liquidity requirements are a relatively recent regulatory tool on the international front, introduced as part of the Basel III accord in the form of a liquidity coverage ratio (LCR) and a net stable funding ratio (NSFR). I first discuss the rationale for regulating bank liquidity by highlighting the market failures that it addresses while reviewing key theoretical contributions to the literature on the motivation for prudential liquidity regulation. Content Type(s): Staff research, Staff discussion papers Topic(s): Financial institutions, Financial system regulation and policies JEL Code(s): G, G2, G21, G28
February 25, 2013 Rebuilding Trust in Global Banking Remarks Mark Carney 7th Annual Thomas d’Aquino Lecture on Leadership - Lawrence National Centre for Policy and Management - Richard Ivey School of Business - Western University London, Ontario Bank of Canada Governor Mark Carney discusses the breakdown in trust in global banking and what is required to rebuild it. Content Type(s): Press, Speeches and appearances, Remarks
June 21, 2008 Financial Market Turmoil and Central Bank Intervention Financial System Review - June 2008 Walter Engert, Jack Selody, Carolyn A. Wilkins In this article, we consider central bank intervention to address financial market turmoil with a focus on the questions of why, when, and how a central bank might intervene. We set out a policy framework and identify appropriate central bank instruments to respond to extraordinary financial market turmoil, consistent with central bank policy goals and functions. Content Type(s): Publications, Financial System Review articles