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13 Results

June 24, 2020

Bank of Canada contributes to new publications by the Network for Greening the Financial System

As a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), the Bank of Canada contributed to three publications that aim to improve global understanding of the impact of climate change on the financial system and world economy.

Household indebtedness risks in the wake of COVID‑19

Staff Analytical Note 2020-8 Olga Bilyk, Anson T. Y. Ho, Mikael Khan, Geneviève Vallée
COVID-19 presents challenges for indebted households. We assess these by drawing parallels between pandemics and natural disasters. Taking into account the financial health of the household sector when the pandemic began, we run model simulations to illustrate how payment deferrals and the labour market recovery will affect mortgage defaults.

Scenario Analysis and the Economic and Financial Risks from Climate Change

Staff Discussion Paper 2020-3 Erik Ens, Craig Johnston
This paper adapts climate-economy models that have been applied in other contexts for use in climate-related scenario analysis. We consider illustrative scenarios for the global economy that could generate economic and financial risks. Our results suggest there are significant economic risks from climate change and the move to a low-carbon economy.
November 19, 2019

Researching the Economic Impacts of Climate Change

The Bank of Canada has a mandate to “promote the economic and financial welfare of Canada,” primarily through the conduct of monetary policy and promotion of a safe, sound and efficient financial system. Understanding the macroeconomic and financial system impacts of climate change and the transition to a low-carbon economy is therefore a priority for the Bank.
Content Type(s): Staff research, Other Topic(s): Climate change
November 19, 2019

Financial Stability in an Uncertain World (Full Remarks)

Remarks Carolyn A. Wilkins International Finance Club of Montréal Montréal, Quebec
Senior Deputy Governor Carolyn A. Wilkins provides an update on the Canadian financial system and discusses measures in place that increase its resilience in a challenging global environment.