Credit and credit aggregates, Financial institutions, Financial markets, Financial services, Financial stability, Financial system regulation and policies, International financial markets, Lender of last resort, , Monetary policy implementation, Payment clearing and settlement systems
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Information Contagion and Systemic Risk
We examine the effect of ex-post information contagion on the ex-ante level of systemic risk defined as the probability of joint bank default. -
Fintech: Is This Time Different? A Framework for Assessing Risks and Opportunities for Central Banks
We investigate the risks and opportunities to the mandates of central banks arising from fintech developments. -
Quantitative Easing and Long‐Term Yields in Small Open Economies
We compare the Federal Reserve’s asset purchase programs with those implemented by the Bank of England and the Swedish Riksbank, and the Swiss National Bank’s reserve expansion program. -
Monetary Policy Implementation in a Negative Rate Environment
Monetary policy implementation could, in theory, be constrained by deeply negative rates since overnight market participants may have an incentive to invest in cash rather than lend to other participants. -
July 12, 2017
Monetary Policy Report Press Conference Opening Statement
Governor Stephen S. Poloz discusses key issues involved in the Governing Council’s deliberations about the policy rate decision and the MPR.