May 6, 2016
Lawrence L. Schembri - Latest
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February 24, 2016
Connecting the Dots: Elevated Household Debt and the Risk to Financial Stability
Deputy Governor Lawrence Schembri discusses household debt, the risk it poses to financial stability and the role of the Bank of Canada. -
August 25, 2015
The Long-Term Evolution of House Prices: An International Perspective
Deputy Governor Lawrence Schembri discusses the international evidence of underlying determinants of long-term movements in house prices. -
June 25, 2015
Building Trust, Not Walls: The Case for Cross-Border Financial Integration
Deputy Governor Lawrence Schembri discusses the need to address cross-border obstacles to greater financial integration. -
November 12, 2014
Promoting Canada’s Economic and Financial Well-being
Deputy Governor Lawrence Schembri discusses the core responsibilities of the Bank and the economic outlook. -
November 4, 2014
Housing Finance in Canada: Looking Back to Move Forward
The Canadian system of housing finance proved to be resilient and efficient during the global financial crisis and its aftermath. The system’s effectiveness is the result of a rigorous prudential regulatory and supervisory regime coupled with targeted government guarantees of mortgage insurance and securitization products. -
June 27, 2014
A Dual Vision for the Canadian Payments System
Deputy Governor Lawrence Schembri calls for a collaborative approach to achieving a payments system that is innovative, safe, and efficient. -
May 15, 2014
Double Coincidence of Needs: Pension Funds and Financial Stability
Deputy Governor Lawrence Schembri discusses pension funds and financial stability. -
September 24, 2013
Born of Necessity and Built to Succeed: Why Canada and the World Need the Financial Stability Board
Deputy Governor Lawrence Schembri discusses why the world needs the Financial Stability Board. -
November 17, 2011
The International Monetary System: An Assessment and Avenue for Reform
The current international monetary system is in need of reform. This article first provides an assessment of the existing system, highlighting both its strengths and weaknesses. It notes that the system has not facilitated the symmetric and timely adjustment in the real exchange rate necessary to accommodate the integration of China and other emerging-market economies into the global economy. This lack of adjustment contributed to the global financial crisis and recession and, because it is forestalling the required rotation of global demand, is hindering the global recovery. The article then discusses reform of the system that would see all systemically important countries and currency areas adopt market-based and convertible floating exchange rates supported by appropriate monetary, fiscal and financial sector policy frameworks. It also examines the roles of the G-20 countries and major international financial institutions in promoting and facilitating the system’s transition.