September 11, 2009 Bank of Canada Review - Autumn 2009 Bank of Canada liquidity actions in response to the financial market turmoil; understanding corporate bond spreads using credit default swaps; review of the conflicts of interest between participants in the securitization process highlighting the most recent policy measures and potential solutions for ameliorating these agency issues. Content Type(s): Publications, Bank of Canada Review
November 28, 2017 Shoring Up the Foundations for a More Resilient Banking System: The Development of Basel III Financial System Review - November 2017 Sheryl King, Alexandra Lai, Tamara Gomes The authors trace the development of the Basel III standards for banking regulation. Basel III builds on two earlier frameworks, in response to weaknesses revealed during the global financial crisis. They highlight how implementation of the standards will underpin greater financial stability and provide a sound foundation for economic growth. Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G1, G2, G21, G28
Estimating the Costs of Electronic Retail Payment Networks: A Cross-Country Meta Analysis Staff discussion paper 2025-17 Cam Donohoe, Youming Liu We explore how many electronic funds transfer (EFT) systems can viably coexist within a jurisdiction at efficient scale by estimating the cost curve of the average EFT. We estimate the marginal cost to be approximately $0.55 per transaction, and the fixed cost to be approximately $83 million per year. Content Type(s): Staff research, Staff discussion papers JEL Code(s): E, E4, E42, E5, E58, H, H5, H54 Research Theme(s): Financial system, Financial institutions and intermediation, Financial system regulation and oversight, Money and payments, Retail payments
AI Agents for Cash Management in Payment Systems Staff working paper 2025-35 Iñaki Aldasoro, Ajit Desai Can artificial intelligence (AI) think and act like a cash manager? In this paper we explore how generative AI agents can help manage liquidity, prioritize payments and optimize efficiency in real-time gross settlement systems. Content Type(s): Staff research, Staff working papers JEL Code(s): A, A1, A12, C, C7, D, D8, D83, E, E4, E42, E5, E58 Research Theme(s): Financial system, Financial system regulation and oversight, Money and payments, Digital assets and fintech, Payment and financial market infrastructures, Structural challenges, Digitalization and productivity
April 9, 2009 Bank of Canada Review - Spring 2009 Examination of progress in the Bank’s exploration of two alternatives to the current inflation-targeting framework: (i) lowering the inflation target and (ii) shifting to a price-level target; a review of arguments for and against price-level targeting, focusing on its costs and benefits compared with inflation targeting; assessing the merits of price-level targeting vis-à-vis inflation targeting from a debt-revaluation perspective; quantifying redistribution of wealth in Canada in the face of unexpected inflation. Content Type(s): Publications, Bank of Canada Review
January 23, 2007 Bank of Canada Review - Winter 2006-2007 Cover page French Provincial Issues in Canada The coins pictured on the cover are part of the National Currency Collection, Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
December 14, 2009 Towards a Stress-Testing Model Consistent with the Macroprudential Approach Financial System Review - December 2009 Céline Gauthier, Alfred Lehar, Moez Souissi Content Type(s): Publications, Financial System Review articles
June 21, 2006 Using High-Frequency Data to Model Volatility Dynamics Financial System Review - June 2006 Gregory Bauer Content Type(s): Publications, Financial System Review articles
January 11, 2009 Bank of Canada Review - Winter 2008-2009 Cover page Chargex The artefacts on the cover are part of the National Currency Collection of the Bank of Canada. Photography by Gord Carter Content Type(s): Publications, Bank of Canada Review
September 20, 2024 Artificial intelligence, the economy and central banking Remarks Tiff Macklem National Bureau of Economic Research, Economics of Artificial Intelligence Conference Toronto, Ontario Bank of Canada Governor Tiff Macklem discusses how artificial intelligence could impact the economy, and outlines some of the implications for monetary policy. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Currency, Digital currency, Financial system, Financial stability, Monetary policy, Economy/Economic growth, Inflation