June 21, 2009 Procyclicality and Value at Risk Financial System Review - June 2009 Peter Youngman Content Type(s): Publications, Financial System Review articles
Tail Risk in a Retail Payment System: An Extreme-Value Approach Staff discussion paper 2018-2 Héctor Pérez Saiz, Blair Williams, Gabriel Xerri The increasing importance of risk management in payment systems has led to the development of an array of sophisticated tools designed to mitigate tail risk in these systems. In this paper, we use extreme value theory methods to quantify the level of tail risk in the Canadian retail payment system (ACSS) for the period from 2002 to 2015. Content Type(s): Staff research, Staff discussion papers JEL Code(s): C, C5, C58, G, G2, G21, G23 Research Theme(s): Financial system, Financial stability and systemic risk, Models and tools, Econometric, statistical and computational methods, Money and payments, Payment and financial market infrastructures
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
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
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
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
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
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 13, 2006 Summary of the CFEC Survey on Foreign Exchange Hedging In December 2005, the Bank of Canada sent those banks that are members of the Canadian Foreign Exchange Committee (CFEC) a questionnaire that focused on the foreign exchange hedging activities of their corporate customers. Content Type(s): Press, Market notices Source(s): Canadian Foreign Exchange Committee