Carolyn A. Wilkins

Senior Deputy Governor

Carolyn A. Wilkins was appointed Senior Deputy Governor for a term of seven years beginning 2 May 2014. In this capacity, she oversees the Bank’s strategic planning and economic and financial research. As a member of the Bank’s Governing Council, she shares responsibility for decisions with respect to monetary policy and financial system stability. Ms. Wilkins also oversees the Bank’s analysis of international economic developments in support of monetary policy decisions. She is a member of the Bank’s Board of Directors.

Ms. Wilkins is the Bank of Canada’s G20 and G7 Deputy. She represents the Bank on the Financial Stability Board (FSB) Plenary and is a member of the FSB’s Standing Committee on Assessment of Vulnerabilities. She is also a member of the IMF’s High Level Advisory Group on FinTech. She previously represented Canada on the Basel Committee on Banking Supervision (BCBS) and co-chaired the BCBS Working Group on Liquidity.

Prior to 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. From 2011 until 2013, Ms. Wilkins was Managing Director of the Bank’s Financial Stability Department. In this role, she led the Bank’s research and analysis of financial system issues in Canada and abroad, including the ongoing assessment of risks to financial system stability. She was also responsible for oversight of systemically important payment, clearing and settlement systems.

Previously, as Deputy Managing Director of the Financial Markets Department, she led the development and implementation of extraordinary liquidity tools and collateral policy deployed during the financial crisis.

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.

Contact

Carolyn A. Wilkins

Senior Deputy Governor
Executive

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

November 29, 2018

Launch of the new exhibition A Noteworthy Woman

Remarks Carolyn A. Wilkins Bank of Canada Museum Ottawa, Ontario
Senior Deputy Governor Carolyn A. Wilkins delivers remarks at the launch of the new Bank of Canada Museum exhibition A Noteworthy Woman, which depicts the life of Viola Desmond, the first Canadian woman to appear on a regular bank note.
Content Type(s): Press, Speeches
November 22, 2018

Balancing Act: the Link between Monetary Policy and Financial Stability

Presentation Carolyn A. Wilkins Canada Mortgage and Housing Corporation National Housing Conference Ottawa, Ontario
Senior Deputy Governor Carolyn A. Wilkins discusses how monetary and macroprudential policies interact with each other and how they affect financial stability.
Content Type(s): Press, Speeches
November 20, 2018

Choosing the Best Monetary Policy Framework for Canada

Remarks Carolyn A. Wilkins McGill University Max Bell School of Public Policy Montréal, Quebec
Senior Deputy Governor Carolyn A. Wilkins discusses public policy issues around monetary policy frameworks and how those issues have become more complex in the post-global financial crisis world.

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Bank Publications

Should Bank Capital Regulation Be Risk Sensitive?

Staff Working Paper 2018-48 Toni Ahnert, James Chapman, Carolyn A. Wilkins
We present a simple model to study the risk sensitivity of capital regulation. A banker funds investment with uninsured deposits and costly capital, where capital resolves a moral hazard problem in the banker’s choice of risk.

Monetary Policy Under Uncertainty: Practice Versus Theory

Staff Discussion Paper 2017-13 Rhys R. Mendes, Stephen Murchison, Carolyn A. Wilkins
For central banks, conducting policy in an environment of uncertainty is a daily fact of life. This uncertainty can take many forms, ranging from incomplete knowledge of the correct economic model and data to future economic and geopolitical events whose precise magnitudes and effects cannot be known with certainty.

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Other

Refereed Journal

  • 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

Other Publications

  • 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.

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