Lawrence L. Schembri - Bank Publications - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:32:26+00:00Financial System Review—2022
https://www.bankofcanada.ca/2022/06/financial-system-review-2022/
The Canadian financial system remains resilient, but vulnerabilities have become more complex and risks have grown. The Bank is carefully watching households’ high levels of mortgage debt, as well as the risks associated with a price correction in Canada’s housing market.2022-06-09T10:00:28+00:00enFinancial System Review—20222022-06-09Financial System Review Summary—2021
https://www.bankofcanada.ca/2021/05/financial-system-review-summary-2021/
The Canadian financial system proved resilient during the COVID-19 pandemic—thanks to strong risk management and unprecedented fiscal and monetary policy support.2021-05-20T10:00:58+00:00enFinancial System Review Summary—20212021-05-20Strengthening Inflation Targeting: Review and Renewal Processes in Canada and Other Advanced Jurisdictions
https://www.bankofcanada.ca/2020/08/staff-discussion-paper-2020-7/
We summarize the review and renewal process at four central banks (Reserve Bank of New Zealand, Bank of England, Sveriges Riksbank and the US Federal Reserve Bank) and compare them with the process at the Bank of Canada, which has been well-established since 2001.2020-08-06T14:45:02+00:00enStrengthening Inflation Targeting: Review and Renewal Processes in Canada and Other Advanced Jurisdictions2020-08-06Central bank researchInflation targetsMonetary policy frameworkStaff Discussion Paper 2020-7https://www.bankofcanada.ca/wp-content/uploads/2020/08/sdp2020-7.pdfStaff Discussion Paper 2020-7Robert AmanoThomas J. CarterLawrence L. SchembriAugust 2020EE5E52E58Our COVID-19 response: Navigating diverse economic impacts
https://www.bankofcanada.ca/2020/06/our-covid-19-response-navigating-diverse-economic-impacts/
The pandemic and related measures to control the spread of the virus have deeply affected Canadians and the Canadian economy. The impacts have been different across sectors and regions. The economic recovery will also vary across the country as local economies start to reopen.2020-06-30T14:00:10+00:00enOur COVID-19 response: Navigating diverse economic impacts2020-06-30Financial System Review Summary—2020
https://www.bankofcanada.ca/2020/05/financial-system-review-summary-2020/
This issue of the Financial System Review focuses on the impact of COVID 19. The pandemic presents an unprecedented shock to the Canadian economy. This report identifies the effects on the Canadian financial system and explains how recent actions by the Bank and other policy-makers are helping to manage them. It further describes how a resilient financial system can help households and businesses smooth the effects of the COVID-19 shock and prepare for a robust recovery.2020-05-14T10:00:58+00:00enFinancial System Review Summary—20202020-05-14Financial System Review Summary—2019
https://www.bankofcanada.ca/2019/05/fsr-summary-2019/
In our Financial System Review, we identify the main vulnerabilities and risks to financial stability in Canada and explain how they have evolved over the past year. This issue reflects the Bank’s judgment that the vulnerabilities associated with high household debt and imbalances in the housing market have declined modestly but remain significant. The Financial System Review is a product of the Governing Council of the Bank of Canada: Stephen S. Poloz, Carolyn A. Wilkins, Timothy Lane, Lawrence Schembri, Lynn Patterson and Paul Beaudry.2019-05-16T10:30:49+00:00enFinancial System Review Summary—20192019-05-16Credibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada
https://www.bankofcanada.ca/2018/12/staff-discussion-paper-2018-18/
In 1991, Canada became the second country to adopt an inflation target as a central pillar of its monetary policy framework. The regime has proven much more successful than initially expected, both in achieving price stability and in stabilizing the real economy against a wide range of shocks.2018-12-18T14:08:33+00:00enCredibility, Flexibility and Renewal: The Evolution of Inflation Targeting in Canada2018-12-18CredibilityInflation targetsMonetary policyMonetary policy frameworkStaff Discussion Paper 2018-18https://www.bankofcanada.ca/wp-content/uploads/2018/12/sdp2018-18.pdfCredibility, Flexibility and Renewal: The Evolution of Inflation Targeting in CanadaThomas J. CarterRhys R. MendesLawrence L. SchembriDecember 2018EE5E52E58E6E61Reinventing the Role of Central Banks in Financial Stability
https://www.bankofcanada.ca/wp-content/uploads/2016/11/boc-review-autumn16-lombardi.pdf
Central banks contribute importantly to the promotion of financial stability given their sys-tem-wide macro-financial perspective and existing roles as lender of last resort and overseer of systemic payment systems. Since the global financial crisis, the financial system role of central banks has expanded to place more emphasis on the prevention of financial stress and crises. Central banks work with other responsible authorities to enhance financial system resilience and to assess and mitigate financial vulnerabilities and systemic risk.2016-11-17T10:32:50+00:00enReinventing the Role of Central Banks in Financial Stability2016-11-17The International Monetary System: An Assessment and Avenue for Reform
https://www.bankofcanada.ca/wp-content/uploads/2011/11/santor.pdf
The current international monetary system is in need of reform. This article first provides an assessment of the existing system, highlighting both its strengths and weaknesses. It notes that the system has not facilitated the symmetric and timely adjustment in the real exchange rate necessary to accommodate the integration of China and other emerging-market economies into the global economy. This lack of adjustment contributed to the global financial crisis and recession and, because it is forestalling the required rotation of global demand, is hindering the global recovery. The article then discusses reform of the system that would see all systemically important countries and currency areas adopt market-based and convertible floating exchange rates supported by appropriate monetary, fiscal and financial sector policy frameworks. It also examines the roles of the G-20 countries and major international financial institutions in promoting and facilitating the system’s transition.2011-11-17T10:30:47+00:00enThe International Monetary System: An Assessment and Avenue for Reform2011-11-17Emerging from the Shadows: Market-Based Financing in Canada
https://www.bankofcanada.ca/wp-content/uploads/2011/12/fsr-0611-chapman.pdf
2011-06-22T11:10:56+00:00enEmerging from the Shadows: Market-Based Financing in Canada2011-06-22