Cameron MacDonald

Principal Economist

RSS

Bio

Cameron MacDonald is a Principal Economist in the Financial Stability Department at the Bank of Canada. He is involved in the assessment of risks and vulnerabilities associated with financial institutions such as banks and life insurers. Other interests include stress testing, macroprudential policy, and mortgage finance. He holds an MA in economics from the University of Toronto.


Show all

Staff Analytical Notes

Assessing the Resilience of the Canadian Banking System

Staff Analytical Note 2019-16 Charles Gaa, Xuezhi Liu, Cameron MacDonald, Xiangjin Shen
The stability of the Canadian financial system, as well as its ability to support the Canadian economy, depends on the ability of financial institutions to absorb and manage major shocks. This is especially true for large banks, which perform services essential to the Canadian economy.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Financial Institutions, Financial stability JEL Code(s): C, C6, C63, E, E2, E27, E3, E37, E4, E44, G, G0, G01, G2, G21

Modelling the Macrofinancial Effects of a House Price Correction in Canada

We use a suite of risk-assessment models to examine the possible impact of a hypothetical house price correction, centred in the Toronto and Vancouver areas. We also assume financial stress significantly amplifies the macroeconomic impact of the house price decline.

Interest Rate and Renewal Risk for Mortgages

Staff Analytical Note 2018-18 Olga Bilyk, Brian Peterson, Cameron MacDonald
In this note, we explore two types of risk faced by holders of mortgages and home equity lines of credit (HELOCs) in the context of rising interest rates: interest rate risk and renewal risk.

Implementing Market-Based Indicators to Monitor Vulnerabilities of Financial Institutions

Staff Analytical Note 2016-5 Cameron MacDonald, Maarten van Oordt, Robin Scott
This note introduces several market-based indicators and examines how they can further inform the Bank of Canada’s vulnerability assessment of Canadian financial institutions. Market-based indicators of leverage suggest that the solvency risk for major Canadian banks has increased since the beginning of the oil-price correction in the second half of 2014.