Olga Bilyk is a Senior Economist in the Financial Stability Department. She received her Master of Arts in Economics from the University of Western Ontario.
Staff Analytical Notes
Using new regulatory data on residential secured lending from Canadian banks, we assess the growth rate of home equity lines of credit (HELOCs).
Recent policy changes are having a clear impact on the mortgage market. The number of new, highly indebted borrowers has fallen, and overall mortgage activity has slowed significantly.
In this note, we explore two types of risk faced by holders of mortgages and home equity lines of credit (HELOCs) in the context of rising interest rates: interest rate risk and renewal risk.
Over the past 15 years, aggregate credit card balances have been increasing, except for a brief spell in the aftermath of the 2007–09 financial crisis. Determining whether the growing balances are due to increased usage of credit cards as a method of payment or whether they reflect increased short-term borrowing is challenging because aggregate balances are snapshots of charges on credit cards before households make their monthly payments.
- "Is Corporate Governance Effective in Ukraine?"
(with Alexander Muravyev, Oleksandr Talavera and Bogdana Grechaniuk), Eastern European Economics, vol. 48(2), 2010.