Kyle Gray

External Author

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Staff Discussion Papers

Canadian Repo Market Ecology

Staff Discussion Paper 2016-8 Corey Garriott, Kyle Gray
This is the first of the Financial Markets Department’s descriptions of Canadian financial industrial organization. The document discusses the organization of the repurchase-agreement (repo) market in Canada.
Content Type(s): Staff research, Staff discussion papers Topic(s): Financial institutions, Financial markets, Financial system regulation and policies, Market structure and pricing JEL Code(s): G, G1, G18, G2, G21, G23

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Bank Publications

Financial System Review articles

June 9, 2016

Securities Financing and Bond Market Liquidity

Financial System Review - June 2016 Jean-Sébastien Fontaine, Corey Garriott, Kyle Gray
This report investigates how the markets for repurchase agreements and securities-lending agreements support the liquidity of Canadian bond markets. It also discusses how recent regulatory changes, as well as low interest rates and settlement failures, are potentially affecting securities-financing markets and, as a result, bond market liquidity.
Content Type(s): Publications, Financial System Review articles Topic(s): Financial markets, Financial system regulation and policies, Market structure and pricing JEL Code(s): G, G1, G12, G2
December 10, 2014

Exchange-Traded Funds: Evolution of Benefits, Vulnerabilities and Risks

Financial System Review - December 2014 Ian Foucher, Kyle Gray
Ian Foucher and Kyle Gray explain the different types of exchange-traded funds (ETFs), which present both benefits and risks for investors. They discuss ways in which the risk characteristics of certain ETF products could have broader implications for the financial system, and describe the evolution of ETF market structure and regulation in different jurisdictions as authorities try to mitigate risks related to ETFs.
Content Type(s): Publications, Financial System Review articles Topic(s): Financial markets, Financial stability, Market structure and pricing JEL Code(s): G, G1, G14, G18, G2, G20

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