Financial System Review Article - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T20:58:24+00:00Exchange-Traded Funds: Evolution of Benefits, Vulnerabilities and Risks
https://www.bankofcanada.ca/wp-content/uploads/2014/12/fsr-december14-foucher.pdf
Ian Foucher and Kyle Gray explain the different types of exchange-traded funds (ETFs), which present both benefits and risks for investors. They discuss ways in which the risk characteristics of certain ETF products could have broader implications for the financial system, and describe the evolution of ETF market structure and regulation in different jurisdictions as authorities try to mitigate risks related to ETFs.2014-12-10T07:50:07+00:00enExchange-Traded Funds: Evolution of Benefits, Vulnerabilities and Risks2014-12-10Cyber Security: Protecting the Resilience of Canada’s Financial System
https://www.bankofcanada.ca/wp-content/uploads/2014/12/fsr-december14-morrow.pdf
Harold Gallagher, Wade McMahon and Ron Morrow examine the various sources of cyber attacks and their potential for systemic risk. Against this background, the report highlights efforts being made to protect against cyber-security threats, including individual and collective actions by financial institutions and financial market infrastructures, as well as initiatives by international organizations, regulatory authorities and governments. The authors then describe the coordination, under the Joint Operational Resilience Management program, of private and public sector actions in Canada for managing and testing capabilities during severe operational events such as cyber attacks.2014-12-10T07:49:18+00:00enCyber Security: Protecting the Resilience of Canada’s Financial System2014-12-10Stress Testing the Canadian Banking System: A System-Wide Approach
https://www.bankofcanada.ca/wp-content/uploads/2014/06/fsr-june2014-anand.pdf
Stress testing is an important tool used by financial authorities and entities around the world to evaluate potential risks to the financial system. Kartik Anand, Guillaume Bédard-Pagé and Virginie Traclet discuss different stress-testing approaches, with emphasis on the innovative and analytically rigorous model developed by the Bank of Canada: the MacroFinancial Risk Assessment Framework (MFRAF). They also present the stress-test results obtained in the context of the 2013 Canada Financial Sector Assessment Program led by the International Monetary Fund, including the important contributions made by the use of MFRAF in the exercise.2014-06-12T10:30:47+00:00enStress Testing the Canadian Banking System: A System-Wide Approach2014-06-12Reforming Financial Benchmarks: An International Perspective
https://www.bankofcanada.ca/wp-content/uploads/2014/06/fsr-june2014-thorn.pdf
Thomas Thorn and Harri Vikstedt examine the efforts being taken internationally and in Canada to enhance the governance and integrity of financial benchmarks. The report provides an overview of how interbank interest rate benchmarks are set and describes the weaknesses in the process that were exposed by the financial crisis. It also explains recent policy developments designed to make global and Canadian interbank benchmarks more robust.2014-06-12T10:30:44+00:00enReforming Financial Benchmarks: An International Perspective2014-06-12Making Banks Safer: Implementing Basel III
https://www.bankofcanada.ca/wp-content/uploads/2014/06/fsr-june2014-chouinard.pdf
Éric Chouinard and Graydon Paulin review the progress to date in implementing Basel III, the new framework of global regulatory standards for the banking sector developed by the Basel Committee on Banking Supervision. The report highlights the expected net benefits of implementing Basel III, as well as the challenges in ensuring international consistency in measuring the risk-weighted capital of banks. It includes a discussion on how implementing Basel III has affected the banking system in Canada and other important jurisdictions, and demonstrates the need for ongoing assessment of the effects on the financial system and the macroeconomy.2014-06-12T10:30:38+00:00enMaking Banks Safer: Implementing Basel III2014-06-12