March 16, 2008 Bank of Canada Review - Spring 2008 Cover Page Canada's First Coinage Photography by Gord Carter, Ottawa. Content Type(s): Publications, Bank of Canada Review
October 5, 2002 Dollarization and North American Integration Remarks David Dodge Chambre de commerce du Québec Sherbrooke, Quebec The question before us sounds straightforward: "Should Canada adopt the U.S. dollar?" But the issues are complicated. I will not pretend that I can cover all the nuances of this topic in my allotted time. So I am running the risk that I may oversimplify matters. Content Type(s): Press, Speeches and appearances, Remarks
Non-Bank Financial Intermediation in Canada: An Update Staff discussion paper 2019-2 Guillaume Bédard-Pagé Non-bank financing provides an important funding source for the economy and is a valuable alternative to traditional banking. It helps enhance the efficiency and resiliency of the financial system while giving customers more choices for their financial services. Unlike banking, it is not prudentially regulated. Content Type(s): Staff research, Staff discussion papers JEL Code(s): G, G0, G01, G2, G20, G23 Research Theme(s): Financial system, Financial institutions and intermediation, Financial stability and systemic risk, Money and payments, Digital assets and fintech
Survival Analysis of Bank Note Circulation: Fitness, Network Structure and Machine Learning Staff working paper 2020-33 Diego Rojas, Juan Estrada, Kim Huynh, David T. Jacho-Chávez Using the Bank of Canada's Currency Information Management Strategy, we analyze the network structure traced by a bank note’s travel in circulation and find that the denomination of the bank note is important in our potential understanding of the demand and use of cash. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C52, C6, C65, C8, C81, E, E4, E42, E5, E51 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Cash and bank notes
June 8, 2017 Using Market-Based Indicators to Assess Banking System Resilience Financial System Review - June 2017 Cameron MacDonald, Maarten van Oordt This report reviews the use of quantitative tools to gauge market participants’ assessment of banking system resilience. These measures complement traditional balance-sheet metrics and suggest that markets consider large Canadian banks to be better placed to weather adverse shocks than banks in other advanced economies. Compared with regulatory capital ratios, however, the measures suggest less improvement in banking system resilience since the pre-crisis period. Content Type(s): Publications, Financial System Review articles JEL Code(s): G, G0, G01, G1, G10, G2, G21
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Cash Versus Card: Payment Discontinuities and the Burden of Holding Coins Staff working paper 2017-47 Heng Chen, Kim Huynh, Oz Shy Cash is the preferred method of payment for small value transactions generally less than $25. We provide insight to this finding with a new theoretical model that characterizes and compares consumers’ costs of paying with cash to paying with cards for each transaction. Content Type(s): Staff research, Staff working papers JEL Code(s): D, D0, D03, E, E4, E42 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Money and payments, Cash and bank notes, Retail payments
Seeing the Economy through Colored Glasses: Partisanship in Macro and (not in) Micro Expectations Staff working paper 2026-24 Adrian Monninger, Kyung Woong Koh, Tao Wang Households report distinctive views of the macroeconomy along partisan lines, while their expectations about personal finances do not follow the same pattern. Economic inequality remains the major contributor to polarized views of the macroeconomy. Partisan politics are simply a magnifier. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E2, E21, E3, E30, E7, E71 Research Theme(s): Models and tools, Econometric, statistical and computational methods, Monetary policy, Monetary policy framework and transmission, Real economy and forecasting
The Dealer-to-Client Repo Market: A Buoy on a Swaying Sea Staff discussion paper 2025-14 Greg Adams, Evan Dudley, Jean-Sébastien Fontaine, Sofia Tchamova, Andreas Uthemann In 2024, the Canadian Overnight Repo Rate Average (CORRA) rose 7 basis points above the Bank of Canada’s target overnight rate as settlement balances declined and hedge fund borrowing increased by $30 billion, straining dealers’ balance sheets. Exercising market power, dealers raised rates, and as client activity grew, these higher rates increasingly influenced CORRAs deviation from target. Content Type(s): Staff research, Staff discussion papers JEL Code(s): D, D4, D5, D53, E, E4, E43, E44, E5, E52, G, G1, G12 Research Theme(s): Financial markets and funds management, Market functioning, Market structure, Financial system, Financial institutions and intermediation, Monetary policy, Monetary policy tools and implementation