Léanne Berger-Soucy is an analyst in the Financial Markets Department at the Bank of Canada. She holds a M.Sc. in Finance from Université de Sherbrooke.

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Staff Analytical Notes

Price Caps in Canadian Bond Borrowing Markets

Price controls, or caps, can lead to shortages, as 1970’s gasoline price controls illustrate. One million trades show that the market for borrowing bonds in Canada has an implicit price cap: traders are willing to pay no more than the overnight interest rate to borrow a bond. This suggests the probability of a shortage increases when interest rates are very low.
Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Financial markets JEL Code(s): G, G1, G10, G12

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Staff Discussion Papers

Government of Canada Fixed-Income Market Ecology

Staff Discussion Paper 2018-10 Léanne Berger-Soucy, Corey Garriott, André Usche

This discussion paper is the third in the Financial Markets Department’s series on the structure of Canadian financial markets. These papers are called “ecologies” because they study the interactions among market participants, infrastructures, regulations and the terms of the traded contract itself.

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