Financial services

• Public Policy Objectives and the Next Generation of CPA Systems: An Analytical Framework

  Staff Discussion Paper 2015-6 James Chapman, Jonathan Chiu, Sajjad Jafri, Héctor Pérez Saiz

  The payments landscape in Canada is rapidly changing and will continue to evolve, fuelled by strong and persistent drivers. In Canada, the Canadian Payments Association (CPA) is on a path to modernize Canada’s core payment systems.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Economic models, Financial services, Financial system regulation and policies, Payment clearing and settlement systems JEL Code(s): E, E4, E42, L, L1, L14, L15, L5, L52

• Government and Private E-Money-Like Systems: Federal Reserve Notes and National Bank Notes

  Staff Working Paper 2015-18 Warren E. Weber

  The period from 1914 to 1935 in the United States is unique in that it was the only time that both privately-issued bank notes (national bank notes) and central bank-issued bank notes (Federal Reserve notes) were simultaneously in circulation.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
• May 14, 2015

  The “Bank” at the Bank of Canada

  Bank of Canada Review - Spring 2015 Thérèse Couture, Christian Bélisle

  In this article, we describe the various types of banking services (payments, settlement and safekeeping) that the Bank of Canada provides to different types of clients (the Government of Canada, financial market infrastructures, financial institutions, foreign central banks and the Canada Deposit Insurance Corporation). We also explain the reasons the Bank provides these services and how this role supports its core mandates, in particular financial stability. Finally, we explore the factors driving the growth and evolution in the provision of these banking services.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Financial services, Foreign reserves management, Payment clearing and settlement systems JEL Code(s): E, E5, E50, G, G2, G20

• The Efficiency of Private E-Money-Like Systems: The U.S. Experience with National Bank Notes

  Staff Working Paper 2015-3 Warren E. Weber

  Beginning in 1864, in the United States notes of national banks were the predominant medium of exchange. Each national bank issued its own notes. E-money shares many of the characteristics of these bank notes.

  Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Digital currencies and fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58