F3 - International Finance - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T08:48:04+00:00News-Driven International Credit Cycles
https://www.bankofcanada.ca/2021/12/staff-working-paper-2021-66/
This paper examines the implications of positive news about future asset values that turn out to be incorrect at a later date in an open economy model with banking. The model captures the patterns of bank credit and current account dynamics in Spain between 2000 and 2010. The model finds that the use of unconventional policies leads to a milder bust.2021-12-23T13:31:43+00:00enNews-Driven International Credit Cycles2021-12-23Credit and credit aggregatesEconomic modelsFinancial stabilityRecent economic and financial developmentsSectoral balance sheetStaff Working Paper 2021-66https://www.bankofcanada.ca/wp-content/uploads/2021/12/swp2021-66.pdfStaff Working Paper 2021-66Galip Kemal OzhanDecember 2021EE4E44FF3F32F4F41GG1G15G2G21Monetary Policy Spillover to Small Open Economies: Is the Transmission Different under Low Interest Rates?
https://www.bankofcanada.ca/2021/11/staff-working-paper-2021-62/
Does the transmission of monetary policy change when interest rates are low or negative? We shed light on this question by analyzing the international bank lending channels of monetary policy using regulatory data on banks from four small open economies: Canada, Chile, the Czech Republic and Norway.2021-11-30T09:13:09+00:00enMonetary Policy Spillover to Small Open Economies: Is the Transmission Different under Low Interest Rates?2021-11-30Financial institutionsInternational topicsMonetary policy transmissionStaff Working Paper 2021-62https://www.bankofcanada.ca/wp-content/uploads/2021/11/swp2021-62.pdfStaff Working Paper 2021-62Jin CaoValeriya DingerTomás GómezZuzana GricMartin HodulaAlejandro JaraRagnar JuelsrudKarolis LiaudinskasSimona MalovanáYaz TerajimaNovember 2021EE4E43E5E52E58FF3F34F4F42GG2G21G28The Countercyclical Capital Buffer and International Bank Lending: Evidence from Canada
https://www.bankofcanada.ca/2021/11/staff-working-paper-2021-61/
We examine the impact of the CCyB on foreign lending activities of Canadian banks. We show that the announcement of a tightening in another country’s CCyB leads to a decrease in the growth rate of cross-border lending between Canadian banks and borrowers in that other country.2021-11-29T11:21:19+00:00enThe Countercyclical Capital Buffer and International Bank Lending: Evidence from Canada2021-11-29Credit risk managementFinancial institutionsFinancial stabilityFinancial system regulation and policiesInternational topicsStaff Working Paper 2021-61https://www.bankofcanada.ca/wp-content/uploads/2021/11/swp2021-61.pdfStaff Working Paper 2021-61David Xiao ChenChristian FriedrichNovember 2021EE3E32FF2F21F3F32GG2G21G28Updated Methodology for Assigning Credit Ratings to Sovereigns
https://www.bankofcanada.ca/2021/11/staff-discussion-paper-2021-16/
We update the Bank of Canada’s credit rating methodology for sovereigns, including our approach to assessing their fiscal position and monetary policy flexibility. We also explicitly consider climate-related factors.2021-11-15T15:21:31+00:00enUpdated Methodology for Assigning Credit Ratings to Sovereigns2021-11-15Credit risk managementForeign reserves managementStaff Discussion Paper 2021-16https://www.bankofcanada.ca/wp-content/uploads/2021/11/sdp2021-16.pdfStaff Discussion Paper 2021-16Karim McDanielsNico PaleschSanjam SuriZacharie QuivigerJohn WalshNovember 2021FF3F31GG2G24G28G3G32Foreign Exchange Fixings and Returns Around the Clock
https://www.bankofcanada.ca/2021/10/staff-working-paper-2021-48/
We document a new empirical finding in the foreign exchange market: currency returns show systematic reversals around the benchmark fixings. Specifically, the US dollar, on average, appreciates in the hours before fixes and depreciates after fixes.2021-10-06T09:37:49+00:00enForeign Exchange Fixings and Returns Around the Clock2021-10-06Exchange ratesFinancial marketsMarket structure and pricingStaff Working Paper 2021-48https://www.bankofcanada.ca/wp-content/uploads/2021/10/swp2021-48.pdfForeign Exchange Fixings and Returns Around the ClockIngomar KrohnPhilippe MuellerPaul WhelanOctober 2021FF3F31GG1G15Tariffs and the Exchange Rate: Evidence from Twitter
https://www.bankofcanada.ca/2021/07/staff-working-paper-2021-36/
Do tariffs affect exchange rates? We look at President Trump’s tweets during talks on the North American Free Trade Agreement and find that anticipation of higher tariffs on imports from Canada and Mexico led to an appreciation of the US dollar relative to Canadian and Mexican currency.2021-07-21T15:54:37+00:00enTariffs and the Exchange Rate: Evidence from Twitter2021-07-21Exchange ratesTrade integrationStaff Working Paper 2021-36https://www.bankofcanada.ca/wp-content/uploads/2021/07/swp2021-36.pdfStaff Working Paper 2021-36Dmitry MatveevFrancisco Ruge-MurciaJuly 2021FF1F13F3F31BoC–BoE Sovereign Default Database: What’s new in 2021?
https://www.bankofcanada.ca/2021/07/staff-analytical-note-2021-15/
The BoC–BoE database of sovereign debt defaults, published and updated annually by the Bank of Canada and the Bank of England, provides comprehensive estimates of stocks of government obligations in default.2021-07-05T14:00:20+00:00enBoC–BoE Sovereign Default Database: What’s new in 2021?2021-07-05