May 19, 2002 Private Capital Flows to Emerging-Market Economies Bank of Canada Review - Spring 2002 Jean-François Perrault This article explores the evolution of capital flows to emerging markets over the last 30 years with emphasis on the past decade. Capital markets in emerging-market economies have evolved substantially over the period, becoming increasingly deep and resilient. The author looks at how capital flows to these countries have changed in terms of magnitude, geographical distribution, the financial instruments used, and the country of origin. He also examines how changes in the investor base have affected these flows and reviews the factors underlying the growth of private capital flows in the 1990s. Content Type(s): Publications, Bank of Canada Review articles
Best Before? Expiring Central Bank Digital Currency and Loss Recovery Staff working paper 2021-67 Charles M. Kahn, Maarten van Oordt, Yu Zhu We consider introducing an expiry date for offline digital currency balances. Consumers whose digital cash expired would automatically receive the funds back into their online account. This functionality could increase demand for digital cash, with the time to expiry playing a key role. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E41, E42 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures
September 25, 2011 Some Current Issues in Financial Reform Remarks Mark Carney Institute of International Finance Washington, D.C. Governor Mark Carney discusses current financial system reform initiatives in a speech to the Institute of International Finance. Content Type(s): Press, Speeches and appearances, Remarks
A Retail CBDC Design for Basic Payments: Feasibility Study Staff discussion paper 2025-9 Sriram Darbha, Cyrus Minwalla, Rakesh Arora, Dinesh Shah We outline possible system architectures for an online retail central bank digital currency (CBDC) and identify one well-suited for basic payments. We analyze OpenCBDC 2PC, a representative system, finding such designs to be feasible, although some areas require further investigation. Our framing highlights other promising architectures for a retail CBDC. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E5, E51, O, O3 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Retail payments
November 16, 2000 Credit Derivatives Bank of Canada Review - Autumn 2000 John Kiff, Ron Morrow Credit derivatives are a useful tool for lenders who want to reduce their exposure to a particular borrower but are unwilling to sell their claims on that borrower. Without actually transferring ownership of the underlying assets, these contracts transfer risk from one counterparty to another. Commercial banks are the major participants in this growing market, using these transactions to diversify their portfolios of loans and other risky assets. The authors examine the size and workings of this relatively new market and discuss the potential of these transactions for distorting existing incentives for risk management and risk monitoring. Content Type(s): Publications, Bank of Canada Review articles
BoC–BoE Sovereign Default Database: Methodology and Assumptions Technical report No. 124 David Beers, Obiageri Ndukwe, Joe Berry 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 JEL Code(s): F, F3, F34, G, G1, G10, G14, G15 Research Theme(s): Financial markets and funds management, Funds management, International markets and currencies, Financial system, Financial stability and systemic risk
Privacy in CBDC technology Staff analytical note 2020-9 Sriram Darbha, Rakesh Arora Privacy is a key aspect of a potential central bank digital currency system. We outline different technical choices to enact various privacy models while complying with the appropriate regulations. We develop a framework to evaluate privacy models and list key risks and trade-offs in privacy design. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E42, E5, E51, O, O3 Research Theme(s): Money and payments, Digital assets and fintech, Payment and financial market infrastructures
February 1, 2012 Measuring Financial Stress Financial System Review - December 2003 Mark Illing, Ying Liu Content Type(s): Publications, Financial System Review articles
July 23, 2018 Historical Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility – July 23, 2018 to July 28, 2019 The Bank of Canada (the Bank), through its Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in the Large Value Transfer System (LVTS). Content Type(s): Collateral Policy Source(s): Standing Liquidity Facility
July 29, 2019 Historical Assets Eligible as Collateral under the Bank of Canada’s Standing Liquidity Facility – July 29, 2019 to April 8, 2020 The Bank of Canada (the Bank), through its Standing Liquidity Facility (SLF), provides access to liquidity to those institutions that participate directly in the Large Value Transfer System (LVTS). Content Type(s): Collateral Policy Source(s): Standing Liquidity Facility