Discounting in Mortgage Markets Staff Working Paper 2011-3 Jason Allen, Robert Clark, Jean-François Houde This paper studies discounting in mortgage markets. Using transaction-level data on Canadian mortgages, we document that over time there's been an increase in the average discount, along with substantial dispersion. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial services JEL Code(s): D, D4, G, G2, G21, L, L0
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 Research Topic(s): Digital currencies and fintech, Financial institutions, Financial services, Financial stability, Financial system regulation and policies, Payment clearing and settlement systems
June 11, 2009 BoC-GEM: Modelling the World Economy Bank of Canada Review - Summer 2009 René Lalonde, Dirk Muir BoC-GEM, an adaptation of the Global Economy Model, initially developed at the International Monetary Fund and the New York Federal Reserve, is a very useful tool to tackle a broad range of issues pertinent to the current economic context, such as the recent movements in commodity prices and the adjustment of global imbalances. This article describes the structure and functioning of BoC-GEM and details some examples of recent application in the areas of monetary policy and issues in the real economy and questions of financial stability and describes ongoing research into introducing a financial sector into the model. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Economic models, International topics
The “Too Big to Fail” Subsidy in Canada: Some Estimates Staff Working Paper 2018-9 Patricia Palhau Mora Implicit government guarantees of banking-sector liabilities reduce market discipline by private sector stakeholders and temper the risk sensitivity of funding costs. This potentially increases the likelihood of bailouts from taxpayers, especially in the absence of effective resolution frameworks. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Financial stability JEL Code(s): G, G1, G13, G2, G21, G28
December 21, 2006 Credit in a Tiered Payments System Financial System Review - December 2006 Alexandra Lai, Nikil Chande, Sean O'Connor Content Type(s): Publications, Financial System Review articles
June 15, 2007 Interpreting Canada's Productivity Performance in the Past Decade: Lessons from Recent Research Bank of Canada Review - Summer 2007 Richard Dion Dion examines the evolution of Canadian productivity since the mid-1990s, using the United States as a benchmark. During this period, trend productivity growth in Canada remained modest, whereas the U.S. witnessed a strong resurgence. Among the factors identified as potential root causes of Canada's lower productivity performance are a lower investment in information and communications technology, reallocation and adjustment costs associated with large relative price movements, and a weak demand for innovation. Content Type(s): Publications, Bank of Canada Review articles Research Topic(s): Productivity, Recent economic and financial developments
January 15, 2008 Bank of Canada Review - Winter 2007-2008 Cover page Roman Antoninianus The coins form part of the National Currency Collection of the Bank of Canada. Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
The Impact of Unanticipated Defaults in Canada's Large Value Transfer System Staff Working Paper 2005-25 Darcey McVanel Canada's Large Value Transfer System (LVTS) is designed to meet international risk-proofing standards at a minimum cost to participants in terms of collateral requirements. Content Type(s): Staff research, Staff working papers Research Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E44, E47, G, G2, G21
Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering Staff Working Paper 2016-8 Angelika Welte Merchants who accept credit cards face payment processing fees. In most countries, the no-surcharge rule prohibits them from using surcharges to pass these fees on to customers. Content Type(s): Staff research, Staff working papers Research Topic(s): Bank notes, Market structure and pricing, Payment clearing and settlement systems JEL Code(s): D, D1, D12, E, E5, E58, G, G2, G28
Unintended consequences of liquidity regulation Staff Analytical Note 2025-28 Omar Abdelrahman, Josef Schroth When a bank holds a lot of safe assets, it is well situated to deal with funding stress. But when all banks hold a lot of safe assets, a pecuniary externality implies that their (wholesale) funding costs increase. This reduces banks’ ability to hold capital buffers and thus, paradoxically, increases the frequency of funding stress. Content Type(s): Staff research, Staff analytical notes Research Topic(s): Credit and credit aggregates, Financial stability, Financial system regulation and policies JEL Code(s): E, E4, E44, E6, G, G2, G21, G28