Posts

• Capital Requirement and Financial Frictions in Banking: Macroeconomic Implications

  Staff Working Paper 2010-26 Ali Dib

  The author develops a dynamic stochastic general-equilibrium model with an active banking sector, a financial accelerator, and financial frictions in the interbank and bank capital markets.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Economic models, Financial markets, Financial stability JEL Code(s): E, E3, E32, E4, E44, G, G1
• October 28, 2010

  Change in Minimum Bank of Canada Nominal Bond Purchases at Auctions

  The Bank of Canada is increasing its purchases of nominal bonds at auctions to 15 per cent effective immediately. This will assist in bringing its holdings of Government of Canada securities more in line with the composition of the government's stock of nominal domestic marketable debt, consistent with the Bank of Canada's policy for managing its balance sheet.

  Content Type(s): Press, Market notices
• October 27, 2010

  Opening Statement before the Standing Senate Committee on Banking, Trade and Commerce

  Opening statement Mark Carney Standing Senate Committee on Banking, Trade and Commerce Ottawa, Ontario

  We are pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance. Before I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, which was released last week.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 27, 2010

  Financial Globalization and Financial Instability

  Conference held on 27 to 29 October 2010 (papers in unedited, electronic format only)

  Content Type(s): Conferences and workshops
• October 26, 2010

  Reform of Over-the-Counter (OTC) Derivatives Markets in Canada: Discussion Paper from the Canadian OTC Derivatives Working Group

  Today, the Canadian OTC Derivatives Working Group published a paper that sets out preliminary recommendations for implementing Canada's G-20 commitments related to OTC derivatives.

  Content Type(s): Press, Market notices
• October 26, 2010

  Opening Statement before the House of Commons Standing Committee on Finance

  Opening statement Mark Carney House of Commons Standing Committee on Finance Ottawa, Ontario

  We are pleased to appear before this committee today to discuss the Bank of Canada’s views on the economy and our monetary policy stance. Before I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, which was released last week.

  Content Type(s): Press, Speeches and appearances, Opening statements
• October 26, 2010

  Reform of Over-the-Counter (OTC) Derivatives Markets in Canada

  This discussion paper represents the work of the inter-agency Canadian OTC Derivatives Working Group (OTCD WG), formed in December 2009, that is chaired by the Bank of Canada and composed of members from the Office of the Superintendent of Financial Institutions (OSFI), the federal Department of Finance, the Ontario Securities Commission, the Autorité des marchés financiers, the Alberta Securities Commission and the Bank of Canada.

• Losses from Simulated Defaults in Canada's Large Value Transfer System

  Staff Discussion Paper 2010-14 Nellie Zhang, Tom Hossfeld

  The Large Value Transfer System (LVTS) loss-sharing mechanism was designed to ensure that, in the event of a one-participant default, the collateral pledged by direct members of the system would be sufficient to cover the largest possible net debit position of a defaulting participant. However, the situation may not hold if the indirect effects of the defaults are taken into consideration, or if two participants default during the same payment cycle.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Financial institutions, Financial stability, Payment clearing and settlement systems JEL Code(s): E, E4, E47, G, G2, G21

• The Effect of Exchange Rate Movements on Heterogeneous Plants: A Quantile Regression Analysis

  Staff Working Paper 2010-25 Ben Tomlin, Loretta Fung

  In this paper, we examine how the effect of movements in the real exchange rate on manufacturing plants depends on the plant's placement within the productivity distribution. Appreciations of the local currency expose domestic plants to more competition from abroad as export opportunities shrink and import competition intensifies.

  Content Type(s): Staff research, Staff working papers Topic(s): Exchange rates, Market structure and pricing, Productivity JEL Code(s): D, D2, D21, F, F1, L, L1, L16, L6, L60

• Banks, Credit Market Frictions, and Business Cycles

  Staff Working Paper 2010-24 Ali Dib

  The author proposes a micro-founded framework that incorporates an active banking sector into a dynamic stochastic general-equilibrium model with a financial accelerator.

  Content Type(s): Staff research, Staff working papers Topic(s): Business fluctuations and cycles, Credit and credit aggregates, Economic models, Financial stability JEL Code(s): E, E3, E32, E4, E44, G, G1