Payment clearing and settlement systems - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T16:08:05+00:00Liquidity Provision and Collateral Haircuts in Payments Systems
https://www.bankofcanada.ca/wp-content/uploads/2011/11/chapman.pdf
Central banks play a pivotal role in well-functioning payments systems by providing liquidity via collateralized lending. This article discusses the role of collateral and haircut policy in central bank lending, as well as the distinguishing features of the central bank’s policy relative to private sector practices. It presents a model that explicitly incorporates the unique role of central banks in the payments system and argues that central banks must consider how their haircut policies affect the relative price and liquidity of assets, the market’s asset allocation, and the likelihood of participants to default. Furthermore, under extraordinary circumstances, there is a rationale for the central bank to temporarily reduce haircuts or broaden the list of eligible collateral to mitigate the shortage of liquidity in the market.2011-11-17T10:28:10+00:00enLiquidity Provision and Collateral Haircuts in Payments Systems2011-11-17Analyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada
https://www.bankofcanada.ca/2011/08/working-paper-2011-17/
This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis.2011-08-12T15:04:33+00:00enAnalyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of Canada2011-08-12Financial institutionsFinancial marketsPayment clearing and settlement systemsWorking Paper 2011-17https://www.bankofcanada.ca/wp-content/uploads/2011/08/wp2011-17.pdfAnalyzing Default Risk and Liquidity Demand during a Financial Crisis: The Case of CanadaJason AllenAli HortaçsuJakub KastlAugust 2011EE4E42E5E58GG0G01G2G28The Impact of Operational Events on the Network Structure of the LVTS
https://www.bankofcanada.ca/2011/08/discussion-paper-2011-7/
The author uses a quantitative network analysis approach to assess how participants in
the Large Value Transfer System (LVTS) respond to partial outages at other banks.2011-08-05T12:50:20+00:00enThe Impact of Operational Events on the Network Structure of the LVTS2011-08-05Payment clearing and settlement systemsDiscussion Paper 2011-7https://www.bankofcanada.ca/wp-content/uploads/2011/08/dp2011-07.pdfThe Impact of Operational Events on the Network Structure of the LVTSTom RobertsAugust 2011CC4C49GG1G14G2G21Lessons from International Central Counterparties: Benchmarking and Analysis
https://www.bankofcanada.ca/2011/06/discussion-paper-2011-4/
Since the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps.2011-06-02T10:42:57+00:00enLessons from International Central Counterparties: Benchmarking and Analysis2011-06-02Financial marketsFinancial stabilityFinancial system regulation and policiesPayment clearing and settlement systemsDiscussion Paper 2011-4https://www.bankofcanada.ca/wp-content/uploads/2011/06/dp2011-04.pdfLessons from International Central Counterparties: Benchmarking and AnalysisAlexandre LazarowJune 2011GG0G01G1G14G18G2G28G3G38Central Bank Collateral Policy: Insights from Recent Experience
https://www.bankofcanada.ca/wp-content/uploads/2011/05/zorn.pdf
The collateral policy of central banks played a critical role during the recent financial crisis, as they worked to bolster liquidity and alleviate the funding pressures facing financial institutions. This article examines central bank collateral policy and discusses three areas in which central banks can use their collateral policy to influence financial market practices: promoting greater transparency for securitized products, improving practices related to credit risk, and reducing procyclicality in the management of market risk.2011-05-19T07:05:09+00:00enCentral Bank Collateral Policy: Insights from Recent Experience2011-05-19Supplementary article: Paying with Polymer: Developing Canada’s New Bank Notes
https://www.bankofcanada.ca/wp-content/uploads/2011/06/spencer.pdf
In this article, author Charles Spencer reviews the complex process of developing the new series, which represents a dramatic change for Canada. The leading-edge security features made possible by the new substrate, the cost savings of the move to a polymer base and the environmental advantages of the new notes are also examined.2011-05-19T06:17:03+00:00enSupplementary article: Paying with Polymer: Developing Canada’s New Bank Notes2011-05-19Payment Networks: A Review of Recent Research
https://www.bankofcanada.ca/wp-content/uploads/2011/02/chapman.pdf
In this article, the authors review work done at the Bank of Canada and at other central banks with the relatively new application of network analysis to the study of payments systems.2011-02-17T10:28:33+00:00enPayment Networks: A Review of Recent Research2011-02-17