Credit and credit aggregates, Lender of last resort, Monetary and financial indicators, Financial institutions, Financial markets, International financial markets, Monetary policy implementation, Financial system regulation and policies, Financial services, Financial stability, Payment clearing and settlement systems
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The Role of Public Money in the Digital Age
A well-functioning monetary system is characterized by public and private forms of money that exchange at par as value flows freely between them. A relevant retail public money—whether in the form of cash, a central bank digital currency or both—is a necessary component of such a monetary system. -
Analysis of DeFi Oracles
Oracles are constructs used in decentralized finance to price assets relative to each other. However, oracles contain defects that could lead to manipulation attacks. Such attacks exploit pricing models embedded within oracles to defraud creators and users. We automatically verify defects, which if mitigated, improves the security of digital currency. -
2023 Methods-of-Payment Survey Report: The Resilience of Cash
We present key results from the 2023 Methods-of-Payment Survey. Results show that measures of cash management and use have remained stable since 2020, and that Canadians increased their adoption of payment alternatives such as mobile apps in 2023. -
How big is cash-futures basis trading in Canada’s government bond market?
Cash-futures basis trading has grown alongside the Government of Canada bond futures market. We examine this growth over time in relation to Government of Canada bond and repurchase agreement markets and provide details on the type of market participants that engage in this type of trading activity. -
Non-bank financial intermediation: Canada’s submission to the 2023 global monitoring report
We share insights from Canadian data from 2002 to 2022 that the Bank of Canada collected. The Bank submits these data each year to the Financial Stability Board for inclusion in its Global Monitoring Report on Non-Bank Financial Intermediation. -
Central Bank Liquidity Policy in Modern Times
Across several dimensions of lender of last resort policy, I highlight broad changes that have occurred since the 2008–09 global financial crisis and discuss some of the key challenges, choices and considerations facing the designers of central bank liquidity tools today. -
Demand for Canadian Banknotes from International Travel: Indirect Evidence from the COVID-19 Pandemic
This study uses the COVID-19 travel restrictions to estimate foreign demand for Canadian banknotes. It reveals that international visitors accounted for about 10% of all $100 CAD notes in circulation pre-pandemic, with each visitor carrying an average of $165 in hundred-dollar bills. -
June 13, 2024
Reviewing our pandemic actions
Deputy Governor Sharon Kozicki talks about the importance of central bank transparency and accountability. She looks at the exceptional monetary policy measures the Bank of Canada used during the COVID-19 pandemic and analyzes their effectiveness. -
June 13, 2024
Exceptional policies for an exceptional time: From quantitative easing to quantitative tightening
Deputy Governor Sharon Kozicki discusses the use of exceptional monetary policy tools during the COVID-19 pandemic, as well as the Bank’s commitment to transparency and accountability.