September 11, 2009 Agency Conflicts in the Process of Securitization Bank of Canada Review - Autumn 2009 Teodora Paligorova Recent evidence finds a positive association between the prevalence of loans of inferior quality and the growth in securitized products. Some attribute this development to the lack of incentives for originators to screen and monitor the performance of securitized loans; others stress that certain factors, such as balance-sheet management, also contributed to the problem, making it difficult to pin down the reason for the proliferation of such loans during the period of high securitization growth. The author reviews the conflicts of interest between participants in the securitization process that contributed to the ongoing financial turmoil and highlights the most recent policy measures and potential solutions for ameliorating these agency issues. Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial institutions, Financial markets
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
September 10, 2009 Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 Media Relations Ottawa, Ontario The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. Content Type(s): Press, Press releases
September 10, 2009 Results for the 10 September 2009 Term Loan Facility The results of today's TLF operation. Content Type(s): Press, Market notices
September 9, 2009 Results of the 9 September 2009 Term PRA Transaction for Private Sector Instruments The results of today's term PRA operations. Content Type(s): Press, Market notices
September 8, 2009 Results of the 8 September 2009 Term PRA Transaction The results of today's term PRA operations. Content Type(s): Press, Market notices
September 4, 2009 Bank of Canada Announces Details of its Term PRA for Private Sector Instruments Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions for private sector instruments announced on 21 July. Content Type(s): Press, Market notices
September 4, 2009 Bank of Canada Announces Details of its Term Loan Facility Operation In accordance with the schedule of Term Loan Facility (TLF) auctions announced on 21 July. Content Type(s): Press, Market notices
September 4, 2009 Bank of Canada Announces Details of its Term PRA Operation In accordance with the schedule of term purchase and resale agreement (PRA) auctions announced on 21 July. Content Type(s): Press, Market notices
September 2, 2009 Results for the 2 September 2009 Term Loan Facility The results of today's TLF operation. Content Type(s): Press, Market notices