André Usche - Latest

• Project Samara Research Paper

  Staff analytical paper 2026-8 Rakesh Arora, Umar Faruqui, Scott Hendry, Dinesh Shah, André Usche

  Project Samara was a real‑world experiment testing distributed ledger technology and wholesale central bank digital money for bond issuance and settlement in Canada. It demonstrated technical feasibility and potential efficiency and risk‑reduction benefits, while highlighting important trade‑offs related to complexity, governance, and regulatory alignment.

  Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E4, E42, E5, E58, G, G2, G28, O, O3, O33 Research Theme(s): Financial markets and funds management, Funds management, Market structure, Money and payments, Digital assets and fintech, Payment and financial market infrastructures

• 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.

  Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G1, G10, G2, G20, H, H6, H63 Research Theme(s): Financial markets and funds management, Funds management, Market functioning, Market structure
• December 15, 2016

  Toward More Resilient Markets: Over-the-Counter Derivatives Reform in Canada

  Financial System Review - December 2016 Michael Mueller, André Usche

  In Toward More Resilient Markets: Over-the-Counter Derivatives Reform in Canada, Michael Mueller and André Usche show that the implementation of derivatives market reforms in Canada is well under way and has lessened vulnerabilities. But accompanying changes to market structure have both positive and negative effects that require ongoing attention from authorities.

  Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G0, G01, G1, G15, G2, G28
• December 15, 2016

  Monitoring Shadow Banking in Canada: A Hybrid Approach

  Financial System Review - December 2016 Bo Young Chang, Gitanjali Kumar, André Usche, Michael Januska

  In Monitoring Shadow Banking in Canada: A Hybrid Approach, Bo Young Chang, Michael Januska, Gitanjali Kumar and André Usche discuss how lending that occurs outside the traditional banking system provides benefits to the economy but must be monitored carefully for potential financial sector vulnerabilities. They describe how the Bank defines and measures shadow banking and how it assesses vulnerabilities in the sector, using an approach that examines both markets and entities.

  Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G0, G01, G2, G23