February 26, 2008 Summary of Comments - 2008/09 Debt Strategy Consultations In November 2007, officials from the Department of Finance and the Bank of Canada sought views from government securities distributors, institutional investors, and other interested parties on the design and operation of the Government of Canada domestic debt program for the fiscal year 2008/09 and beyond.
October 26, 2022 Monetary Policy Report – October 2022 While inflation has come off its peak, it remains too high. As the economy responds to higher interest rates and as the effects of elevated commodity prices and supply disruptions fade, the Bank expects inflation to fall to about 3% in late 2023, then return to 2% in 2024. Content Type(s): Publications, Monetary Policy Report
Explaining Unusual Cash Patterns in 2018 Staff analytical note 2019-22 Walter Engert, Ben Fung, Jozsef Molnar, Gradon Nicholls There was an unusually large decline of bank notes in circulation in October 2018. Some have argued that this was due to the legalization of cannabis in Canada in mid-October. Content Type(s): Staff research, Staff analytical notes JEL Code(s): E, E4, E41, E42, E5, E58 Research Theme(s): Money and payments, Cash and bank notes
Complementing the Credit Risk Assessment of Financial Counterparties with Market-Based Indicators Staff analytical note 2017-15 Guillaume Ouellet Leblanc, Maarten van Oordt The Bank’s internal credit risk assessment abilities are regularly enhanced. In this note, we present a recent innovation that extends the set of market-based indicators used in the credit risk assessment of financial counterparties. Content Type(s): Staff research, Staff analytical notes JEL Code(s): G, G1, G10, G2, G24 Research Theme(s): Financial markets and funds management, Funds management, Market functioning, Financial system, Financial institutions and intermediation, Financial stability and systemic risk
June 21, 2009 Procyclicality and Value at Risk Financial System Review - June 2009 Peter Youngman Content Type(s): Publications, Financial System Review articles
Variations in Pass-Through from Global Agricultural Commodity Prices to Domestic Food Inflation Staff discussion paper 2023-24 Daniel Hyun, Jacky Lee This paper examines factors that affect the transmission of fluctuations in global agricultural commodity prices to domestic food inflation. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E3, E31, Q, Q0, Q02, Q1, Q11, Q17, Q18 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Structural challenges, International trade, finance and competitiveness
December 25, 2004 The Bank of Canada as Lender of Last Resort Bank of Canada Review - Winter 2004-2005 Fred Daniel, Walter Engert, Dinah Maclean As the ultimate provider of Canadian-dollar liquidity to the financial system, the Bank of Canada has the unique capacity to create Canadian-dollar claims on the central bank and the power to make secured loans or advances to chartered banks and other members of the Canadian Payments Association. The Bank supplies overnight credit on a routine basis through the Standing Liquidity Facility (SLF) to direct participants in the Large Value Transfer System, and Emergency Lending Assistance (ELA) to solvent deposit-taking institutions that require more substantial and prolonged credit. The authors review the policy framework that guides the Bank's lender-of-last-resort function, including the key issues, terms and conditions, and eligibility criteria associated with its SLF and ELA activities. Also discussed are foreign currency ELA, the relationship between SLF and ELA, systemic risk and Bank of Canada intervention, and the potential provision of liquidity to major clearing and settlement systems. Content Type(s): Publications, Bank of Canada Review articles
September 14, 2017 Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal Remarks Carolyn A. Wilkins Ottawa, Ontario Senior Deputy Governor Carolyn A. Wilkins reviews key themes discussed by participants at the workshop “Monetary Policy Framework Issues: Toward the 2021 Inflation-Target Renewal”. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial stability, Monetary policy, Economic models, Economy/Economic growth, Inflation targeting framework
April 2, 2014 Briefing on Digital Currencies Remarks Grahame Johnson, Lukasz Pomorski Senate of Canada Ottawa, Ontario In an educational session on e-money to the Senate of Canada’s Standing Committee on Banking, Trade and Commerce. Grahame Johnson and Lukasz Pomorski highlight recent innovations in Canada’s payments system and the economic needs that these innovations satisfy. Content Type(s): Press, Speeches and appearances, Remarks
June 9, 2016 Large Canadian Public Pension Funds: A Financial System Perspective Financial System Review - June 2016 Guillaume Bédard-Pagé, Annick Demers, Eric Tuer, Miville Tremblay The authors review the eight largest public pension funds in Canada. These funds are an important source of retirement income for Canadians. They are also significant investors, with net assets under management of over $1 trillion. The authors outline the investment strategies of the funds and how they interact with financial institutions and participate in financial markets. They also discuss the ways in which the funds’ risk-management frameworks could contribute to financial system stability and how they minimize potential vulnerabilities. Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G1, G11, G2, G23