Philippe Muller has been a Senior Director of the Bank’s Markets and Banking Department, formerly called the Financial Markets Department, since August 2018. Mr. Muller is responsible for industry initiatives, the Bank`s Montréal and Toronto Offices and the Bank`s pension fund. Previously, he was responsible for the domestic front office operations and IT applications.
Mr. Muller joined the Bank in 1997 and has held various positions within the monetary policy, financial system and funds-management functions, progressing from analyst roles to his current position as Senior Director of MBD. Mr. Muller had previously been Senior Director of the Bank’s Financial Risk Office. He has developed expertise in the areas of monetary policy implementation, financial system soundness and efficiency, debt and treasury management, foreign exchange reserves management, and risk (treasury and credit) management. He holds a Master of Science degree in finance from HEC Montréal.
The Canadian Collateral Management Service (CCMS) is a new tri-party collateral management service offered by the TMX Group and Clearstream. CCMS will enhance Canada’s financial infrastructure for securities financing transactions, including for the repurchase, or repo, market that is a core funding market in Canada. We explain the importance of the repo market and describe the benefits of the CCMS for market participants and for the Bank of Canada.
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of investment counterparties. Traditionally, foreign exchange reserve and asset managers have relied on credit rating agencies (CRAs) as the main source for credit assessments.
The investment of foreign exchange reserves or other asset portfolios requires an assessment of the credit quality of counterparties. Traditionally, foreign exchange reserve managers and other investors have relied on credit rating agencies (CRAs) as the main source for credit assessments.
