Carolyn A. Wilkins served as Senior Deputy Governor from May 2014 to December 2020. In this capacity, she oversaw the Bank’s strategic planning and economic and financial research. As a member of the Bank’s Governing Council, she shared responsibility for decisions with respect to monetary policy and financial system stability. Ms. Wilkins also oversaw the Bank’s analysis of international economic developments in support of monetary policy decisions and served as a member of the Bank’s Board of Directors.
Ms. Wilkins was the Bank of Canada’s G20 and G7 Deputy. She represented the Bank on the Financial Stability Board (FSB) Plenary and was a member of the FSB’s Standing Committee on Assessment of Vulnerabilities. She also served as a member of the International Monetary Fund’s High-Level Advisory Group on Finance and Technology and the Group of Trustees of the Principles for Stable Capital Flows and Fair Debt Restructuring at the Institute of International Finance. She previously represented Canada on the Basel Committee on Banking Supervision (BCBS) and co-chaired the BCBS Working Group on Liquidity.
During the COVID-19 pandemic, Ms. Wilkins oversaw the development of the Bank’s market liquidity facilities and large-scale asset purchase program. As Deputy Managing Director of the Financial Markets Department in 2008, she led the development and implementation of extraordinary liquidity tools and collateral policy deployed during the financial crisis.
Before her appointment as Senior Deputy Governor, Ms. Wilkins was Advisor to the Governor, with a focus on the Canadian economy, its interaction with the financial system, and monetary policy. As Managing Director of the Bank’s Financial Stability Department from 2011 to 2013, Ms. Wilkins led the Bank’s research and analysis of financial system issues in Canada and abroad. Prior to joining the Bank in 2001, Ms. Wilkins held senior analytical roles related to economic forecasting and fiscal policy development, at both the Department of Finance Canada and the Privy Council Office.
Ms. Wilkins was born in Peterborough, Ontario. She holds an Honours BA in Economics from Wilfrid Laurier University and an MA in Economics from the University of Western Ontario. She was named as a winner of Canada’s Most Powerful Women: Top 100 Award by the Women’s Executive Network in 2016 and 2018.
Staff discussion papers
Staff working papers
Bank of Canada Review articles
Financial System Review articles
- Wilkins, C. (with T. Ahnert and J. Chapman). 2020. “Should Bank Capital Regulation Be Risk Sensitive?” Journal of Financial Intermediation, May 2020.
- Wilkins, C. (with G. Tkacz). 2008. “Linear and Threshold Forecasts of Output and Inflation with Stock and Housing Prices,” Journal of Forecasting, Vol. 27, Issue 2, pp. 131-151.
Publications from working groups
- Basel Committee on Banking Supervision (C. Wilkins co-chair of Working Group on Liquidity). 2014. “Basel III: the Net Stable Funding Ratio - consultative document.”
- Basel Committee on Banking Supervision (C. Wilkins co-chair of Working Group on Liquidity). 2014. “Guidance for Supervisors on Market-Based Indicators of Liquidity.”
- Basel Committee on Banking Supervision (C. Wilkins co-chair of Working Group on Liquidity). 2014. “Liquidity coverage ratio disclosure standards.”
- Canadian Over-the-Counter Derivatives Working Group (C. Wilkins Chair of Working Group). 2010. “Reform of Over-the-Counter (OTC ) Derivatives Markets in Canada: Discussion Paper from the Canadian OTC Derivatives Working Group.”
- Canadian Foreign Exchange Committee Working Group on the Performance of FX Markets over the Crisis (C. Wilkins Chair of Working Group). 2010. “The Canadian Foreign Exchange Market: Developments and Opportunities.”
- Committee on the Global Financial System Study Group on Cross Border Funding (C. Wilkins member of Study Group.) 2010. “The functioning and resilience of cross-border funding markets”. CGFS Paper No. 37.
- Wilkins, C. 1998. “Youth and the 1990s Labour Market,” Department of Finance Working Paper No. 98-08.
- Wilkins, C. (with F. Lee and S. James). 1992. “Estimating Trend Total Factor Productivity Growth in Canada,” Department of Finance Working Paper No. 92-03.
- Wilkins, C. (with M. Albert). 1989. “Closed Economy Analysis of the Dynamics of Deficits and Debt in a Unitary and Federal State,” Department of Finance Working Paper No. 89-01.