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Staff analytical notes

Household financial vulnerabilities and physical climate risks

Staff Analytical Note 2021-19 Thibaut Duprey, Colin Jones, Callie Symmers, Geneviève Vallée
Natural disasters occur more often than before, potentially exposing households to financial distress. We study the intersection between household financial vulnerabilities and severe weather events.
Content Type(s): Staff research, Staff analytical notes Topic(s): Climate change, Credit and credit aggregates, Financial stability, Housing, Recent economic and financial developments JEL Code(s): C, C2, C21, C3, C38, D, D1, D14, Q, Q5, Q54

Household indebtedness risks in the wake of COVID‑19

Staff Analytical Note 2020-8 Olga Bilyk, Anson T. Y. Ho, Mikael Khan, Geneviève Vallée
COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.
Content Type(s): Staff research, Staff analytical notes Topic(s): Climate change, Coronavirus disease (COVID-19), Credit and credit aggregates, Econometric and statistical methods, Financial stability, Fiscal policy, Housing, Recent economic and financial developments, Sectoral balance sheet JEL Code(s): C, C2, C21, D, D1, D12, D14, E, E2, E24, E27, E6, E62, G, G2, G21, G28, R, R2

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Staff working papers

How Long Does It Take You to Pay? A Duration Study of Canadian Retail Transaction Payment Times

Staff Working Paper 2018-46 Geneviève Vallée
Using an exclusive data set of payment times for retail transactions made in Canada, I show that cash is the most time-efficient method of payment (MOP) when compared with payments by debit and credit cards. I model payment efficiency using Cox proportional hazard models, accounting for consumer choice of MOP.
Content Type(s): Staff research, Staff working papers Topic(s): Bank notes, Econometric and statistical methods, Payment clearing and settlement systems JEL Code(s): C, C2, C25, C3, C36, C4, C41, D, D2, D23, E, E4, E41, E42

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Bank publications

Financial System Hub articles

September 24, 2021

Monitoring payment deferrals during the COVID-19 pandemic—update, July 2021

Geneviève Vallée
In the initial stages of the COVID-19 pandemic, Canada’s financial institutions allowed households to defer payments on a range of loans. With nearly all of these deferrals having expired, we provide a final update of how these loans have performed through to July 2021.
Content Type(s): Publications, Financial System Hub articles Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates
May 21, 2021

Monitoring payment deferrals during the COVID-19 pandemic—update, March 2021

Geneviève Vallée
In the initial stages of the COVID-19 pandemic, Canada’s financial institutions allowed households to defer payments on a range of loans. With most of these deferrals having expired, we present updated details of how these loans have performed through to March 2021.
Content Type(s): Publications, Financial System Hub articles Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates
November 23, 2020

Monitoring payment deferrals during the COVID-19 pandemic

Geneviève Vallée
Since the start of the COVID-19 pandemic, Canada’s financial institutions have allowed borrowers to defer payments on a range of loans. In a series of charts, we investigate what payment deferrals tell us about the financial health of borrowers and the related risks to financial stability.
Content Type(s): Publications, Financial System Hub articles Topic(s): Coronavirus disease (COVID-19), Credit and credit aggregates

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