June 11, 2015
Find Bank of Canada publications by keyword, author, content type, JEL code, topic or publication date.
193
result(s)
June 11, 2015
Canadian Open-End Mutual Funds: An Assessment of Potential Vulnerabilities
The authors examine the liquidity and leverage characteristics of Canadian long-term, open-end mutual funds in terms of their potential systemic effects on the Canadian mutual fund sector and on the Canadian financial system more broadly. In their overall assessment of this sector, they consider the regulation, market size and ownership structure of mutual funds in Canada and provide observations about the industry globally.
Content Type(s):
Publications,
Financial System Review articles
Topic(s):
Financial institutions,
Financial markets
JEL Code(s):
G,
G2,
G23,
G28
June 11, 2015
Financial System Review - June 2015
The Reports section of the Financial System Review examines selected issues of relevance to the Canadian and global financial systems. The June 2015 issue features two reports summarizing recent work by Bank of Canada staff on specific financial sector policies.
Content Type(s):
Publications,
Financial System Review
December 10, 2014
Exchange-Traded Funds: Evolution of Benefits, Vulnerabilities and Risks
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
December 10, 2014
Cyber Security: Protecting the Resilience of Canada’s Financial System
Harold Gallagher, Wade McMahon and Ron Morrow examine the various sources of cyber attacks and their potential for systemic risk. Against this background, the report highlights efforts being made to protect against cyber-security threats, including individual and collective actions by financial institutions and financial market infrastructures, as well as initiatives by international organizations, regulatory authorities and governments. The authors then describe the coordination, under the Joint Operational Resilience Management program, of private and public sector actions in Canada for managing and testing capabilities during severe operational events such as cyber attacks.
Content Type(s):
Publications,
Financial System Review articles
Topic(s):
Financial stability,
Financial system regulation and policies,
Payment clearing and settlement systems
JEL Code(s):
G,
G2,
G20,
G23,
G28
December 10, 2014
The Reports section of the Financial System Review examines selected issues of relevance to the Canadian and global financial systems. The December 2014 issue features two reports on important developments in the financial system: rapid growth and innovation in the market for exchange-traded funds, and the increasing significance of cyber attacks to the operational resilience of financial institutions and financial market infrastructures.
Financial System Review - December 2014
Content Type(s):
Publications,
Financial System Review
June 12, 2014
Stress Testing the Canadian Banking System: A System-Wide Approach
Stress testing is an important tool used by financial authorities and entities around the world to evaluate potential risks to the financial system. Kartik Anand, Guillaume Bédard-Pagé and Virginie Traclet discuss different stress-testing approaches, with emphasis on the innovative and analytically rigorous model developed by the Bank of Canada: the MacroFinancial Risk Assessment Framework (MFRAF). They also present the stress-test results obtained in the context of the 2013 Canada Financial Sector Assessment Program led by the International Monetary Fund, including the important contributions made by the use of MFRAF in the exercise.
Content Type(s):
Publications,
Financial System Review articles
Topic(s):
Financial institutions,
Financial stability
JEL Code(s):
C,
C6,
C63,
G,
G0,
G01,
G2,
G21
June 12, 2014
Reforming Financial Benchmarks: An International Perspective
Thomas Thorn and Harri Vikstedt examine the efforts being taken internationally and in Canada to enhance the governance and integrity of financial benchmarks. The report provides an overview of how interbank interest rate benchmarks are set and describes the weaknesses in the process that were exposed by the financial crisis. It also explains recent policy developments designed to make global and Canadian interbank benchmarks more robust.
Content Type(s):
Publications,
Financial System Review articles
Topic(s):
Financial markets,
Financial system regulation and policies,
Recent economic and financial developments
JEL Code(s):
G,
G1,
G11
June 12, 2014
Making Banks Safer: Implementing Basel III
Éric Chouinard and Graydon Paulin review the progress to date in implementing Basel III, the new framework of global regulatory standards for the banking sector developed by the Basel Committee on Banking Supervision. The report highlights the expected net benefits of implementing Basel III, as well as the challenges in ensuring international consistency in measuring the risk-weighted capital of banks. It includes a discussion on how implementing Basel III has affected the banking system in Canada and other important jurisdictions, and demonstrates the need for ongoing assessment of the effects on the financial system and the macroeconomy.
Content Type(s):
Publications,
Financial System Review articles
Topic(s):
Financial institutions,
Financial system regulation and policies
JEL Code(s):
G,
G2,
G28
June 12, 2014
The Reports section of the Financial System Review examines selected issues of relevance to the Canadian and global financial systems. The June 2014 issue features three reports on financial system initiatives: making financial benchmarks more robust; implementing the stronger Basel III capital and liquidity framework for banks; and using stress tests to assess financial system risks.
Financial System Review - June 2014
Content Type(s):
Publications,
Financial System Review