Cameron MacDonald

Senior Economist

Cameron MacDonald is a Senior Economist in the Financial Stability Department at the Bank of Canada. He is involved in the assessment of risks and vulnerabilities associated with financial institutions such as banks and life insurers. Other interests include stress testing, macroprudential policy, and mortgage finance. He holds an MA in economics from the University of Toronto.

Contact

Cameron MacDonald

Senior Economist
Financial Stability
Financial Institutions

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

June 8, 2017 Using Market-Based Indicators to Assess Banking System Resilience

This report reviews the use of quantitative tools to gauge market participants’ assessment of banking system resilience. These measures complement traditional balance-sheet metrics and suggest that markets consider large Canadian banks to be better placed to weather adverse shocks than banks in other advanced economies. Compared with regulatory capital ratios, however, the measures suggest less improvement in banking system resilience since the pre-crisis period.

December 15, 2016 The Rise of Mortgage Finance Companies in Canada: Benefits and Vulnerabilities

The Rise of Mortgage Finance Companies in Canada: Benefits and Vulnerabilities, by Don Coletti, Marc-André Gosselin and Cameron MacDonald, examines the increased importance of mortgage finance companies (MFCs) in the Canadian mortgage market. The authors discuss the MFC business model, highlighting MFCs’ relationship with mortgage brokers and banks, as well as the benefits they bring to Canadian borrowers. The authors conclude with a discussion of the impact of MFCs on financial system vulnerabilities.

Implementing Market-Based Indicators to Monitor Vulnerabilities of Financial Institutions

Staff Analytical Note 2016-5 Cameron MacDonald, Maarten van Oordt, Robin Scott
This note introduces several market-based indicators and examines how they can further inform the Bank of Canada’s vulnerability assessment of Canadian financial institutions. Market-based indicators of leverage suggest that the solvency risk for major Canadian banks has increased since the beginning of the oil-price correction in the second half of 2014.

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Education

  • A. (Economics), University of Toronto (2012)
  • B.A. Hons. (Economics), University of Alberta (2011)

Research Interests

  • Financial stability
  • Stress testing
  • Macroprudential policy
  • Mortgage finance
  • Banking
  • Life insurance

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