Posts

• Government of Canada Securities in the Cash, Repo and Securities Lending Markets

  Staff Discussion Paper 2018-4 Narayan Bulusu, Sermin Gungor

  This paper documents the properties of Government of Canada securities in cash, repo and securities lending transactions over their life cycle. By tracking every security from issuance to maturity, we are able to highlight inter-linkages between the markets for cash and for specific securities.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Financial markets, Wholesale funding JEL Code(s): G, G1, G12, G2, G21, G23

• What Drives Interbank Loans? Evidence from Canada

  Staff Working Paper 2018-5 Narayan Bulusu, Pierre Guérin

  We identify the drivers of unsecured and collateralized loan volumes, rates and haircuts in Canada using the Bayesian model averaging approach to deal with model uncertainty. Our results suggest that the key friction driving behaviour in this market is the collateral reallocation cost faced by borrowers.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Wholesale funding JEL Code(s): C, C5, C55, E, E4, E43, G, G2, G23
• January 31, 2018

  Research Update - January 2018

  This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.

  Content Type(s): Staff research, Research newsletters
• January 26, 2018

  Bloomberg TV

  

  Stephen S. Poloz, Governor of the Bank of Canada
  Interview during the World Economic Forum Annual Meeting in Davos, Switzerland

  Content Type(s): Press, Media activities
• January 26, 2018

  Bank of Canada Media Interview – Bloomberg TV

  Stephen S. Poloz, Governor of the Bank of Canada, will give an interview to Bloomberg TV’s Stephanie Flanders at approximately 9:40 (Central European Time), 3:40 (Eastern Time). Please check local listings for channel information or watch live online at https://www.bloomberg.com/live. 

  Content Type(s): Press, Media advisories
• January 25, 2018

  CNBC

  

  Stephen S. Poloz, Governor of the Bank of Canada
  Interview with Karen Tso to discuss digital currencies during the World Economic Forum Annual Meeting in Davos, Switzerland

  Content Type(s): Press, Media activities Topic(s): Digital currencies and fintech
• January 25, 2018

  Banking and Financial Statistics - January 2018

  Content Type(s): Publications, Historical: Banking and Financial Statistics

• A Calibrated Model of Intraday Settlement

  Staff Discussion Paper 2018-3 Héctor Pérez Saiz, Siddharth Untawala, Gabriel Xerri

  This paper estimates potential exposures, netting benefits and settlement gains by merging retail and wholesale payments into batches and conducting multiple intraday settlements in this hypothetical model of a single "calibrated payments system." The results demonstrate that credit risk exposures faced by participants in the system are largely dependent on their relative activity in the retail and wholesale payments systems.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Econometric and statistical methods, Financial stability, Payment clearing and settlement systems JEL Code(s): C, C5, C58, G, G2, G21, G23
• January 25, 2018

  Bank of Canada Media Interview – CNBC

  Stephen S. Poloz, Governor of the Bank of Canada, will participate in an onstage interview with CNBC’s Karen Tso during the World Economic Forum Annual Meeting in Davos, Switzerland. The interview will be livestreamed in its entirety at www.cnbc.com/the-sanctuary/ beginning at 12:00 (Central European Time), 6:00 (Eastern Time) and parts of it will be shown live on CNBC Europe, CNBC Asia and CNBC World (US).

  Content Type(s): Press, Media advisories

• Non-linéarité de la courbe de Phillips : un survol de la littérature

  Staff Analytical Note 2018-3 Renaud St-Cyr

  The paper reviews evidence from the economic literature on the nature of the relationship between excess capacity and inflation, better known as the Phillips curve. In particular, we examine the linearity of this relationship. This is an important issue in the current economic context in which advanced economies are approaching or exceed their potential output.

  Content Type(s): Staff research, Staff analytical notes Topic(s): Inflation and prices, International topics JEL Code(s): E, E3, E31, E32