October 27, 2008 Summary of the Survey on Canadian Corporate Foreign Exchange Hedging Each year since 2004, the Bank of Canada has surveyed banks that are active in the Canadian-dollar foreign exchange market. Content Type(s): Press, Market notices
October 27, 2008 Results of the 27 October 2008 Term PRA Transaction for Private Sector Money Market Instruments The results of today's term PRA operations. Content Type(s): Press, Market notices
October 27, 2008 Bank of Canada Announces the Minimum Bid Rate for Today's Term PRA Facility for Private Sector Money Market Instruments The minimum bid rate for today's 14-day Term PRA Facility for Private Sector Money Market Instruments. Content Type(s): Press, Market notices
October 27, 2008 Bank of Canada to Sell Treasury Bills for Balance Sheet Management Purposes The Bank of Canada announced today it will sell $1.85 billion of its holdings of treasury bills. This transaction will partially offset the temporary increase in assets associated with the term purchase and resale transactions announced today. Content Type(s): Press, Market notices
October 27, 2008 Bank of Canada Announces Details of its 28 Day Term PRA Transaction In accordance with the schedule of Term PRA auctions announced on 3 October, the Bank of Canada announced today that it will enter into a 28-day Purchase and Resale Agreement (PRA) transaction as follows: Content Type(s): Press, Market notices
Which Bank is the "Central" Bank? An Application of Markov Theory to the Canadian Large Value Transfer System Staff Working Paper 2008-42 Morten Bech, James Chapman, Rodney J. Garratt We use a method similar to Google's PageRank procedure to rank banks in the Canadian Large Value Transfer System (LVTS). Along the way we obtain estimates of the payment processing speeds for the individual banks. Content Type(s): Staff research, Staff working papers Topic(s): Payment clearing and settlement systems JEL Code(s): C, C1, C11, E, E5, E50, G, G2, G20
Financial Constraints and the Cash-Holding Behaviour of Canadian Firms Staff Discussion Paper 2008-16 Darcey McVanel, Nikita Perevalov The proportion of assets held by the average Canadian firm in the form of cash has increased steadily since the early 1990s, and is now roughly twice as large as in 1990. The literature has established that the cash-holding behaviour of firms is highly correlated with financial constraints and firm characteristics. Content Type(s): Staff research, Staff discussion papers Topic(s): Sectoral balance sheet JEL Code(s): G, G1, G11, G3, G32
The Canadian Dollar and Commodity Prices: Has the Relationship Changed over Time? Staff Discussion Paper 2008-15 Philipp Maier, Brian DePratto The authors examine the impact of the recent run-up in energy and non-energy commodity prices on the Canadian dollar. Using the Bank of Canada's exchange rate equation, they find that the differences between the actual value of the Canadian exchange rate and the simulated values observed in 2007 are not historically large. Still, given that […] Content Type(s): Staff research, Staff discussion papers Topic(s): Exchange rates JEL Code(s): F, F3, F31
October 25, 2008 Senior Loan Officer Survey - Third-Quarter 2008 Survey respondents reported widespread tightening in both the pricing and non-pricing dimensions of business-lending conditions. Respondents attributed the tightening of lending conditions mainly to the ongoing turmoil in credit markets and to concerns about the general economic outlook. Content Type(s): Publications, Senior Loan Officer Survey
October 23, 2008 Bank of Canada releases Monetary Policy Report Media Relations Ottawa, Ontario The Bank of Canada today released its October Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy. Content Type(s): Press, Press releases