November 30, 2023 CARR amends recommended fallback for CDOR NHA MBS, and publishes a guide for Canadian companies transitioning from CDOR In 2021, CARR published “Recommended fallback language for FRNs referencing CDOR” which recommended that CDOR-linked floating rate notes (FRNs), including floating rate NHA MBS, fall back from CDOR to a CORRA fallback rate (“Fallback Rate (CORRA)” as defined in the document). Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
November 29, 2023 What we heard: Bank of Canada publishes report on digital dollar consultations, outlines further engagement plans Media Relations Ottawa, Ontario The Bank of Canada today published a report summarizing the feedback it has received to date about a potential digital Canadian dollar. Content Type(s): Press, Press releases
November 29, 2023 A Digital Canadian Dollar: What we heard 2020–23 and what comes next This report summarizes the feedback the Bank of Canada has received to date about a potential digital Canadian dollar.
November 28, 2023 Moving money with confidence: Canada’s new regime for retail payments supervision Remarks Ron Morrow Central 1 Momentum Summit Vancouver, British Columbia Executive Director of Supervision Ron Morrow discusses the creation and coming into force of a new supervision regime to oversee retail payments. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Fintech
Testing Collusion and Cooperation in Binary Choice Games Staff working paper 2023-58 Erhao Xie This paper studies the testable implication of players’ collusive or cooperative behaviour in a binary choice game with complete information. I illustrate the implementation of this test by revisiting the entry game between Walmart and Kmart. Content Type(s): Staff research, Staff working papers JEL Code(s): C, C5, C57, L, L1, L13 Research Theme(s): Financial markets and funds management, Market structure, Models and tools, Econometric, statistical and computational methods
November 27, 2023 Bank of Canada announces finalists for the ninth annual Governor’s Challenge The Bank of Canada has announced the five finalist teams in the 2023–24 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council. Content Type(s): Press, Announcements Source(s): The Governor's Challenge
Immigration and Provision of Public Goods: Evidence at the Local Level in the U.S. Staff working paper 2023-57 Anna Maria Mayda, Mine Z. Senses, Walter Steingress Using U.S. county-level data from 1990 to 2010, we study the causal impact of immigration on the provision of local public goods. We uncover substantial heterogeneity across immigrants with different skills and immigrants of different generations, which leads to unequal fiscal effects across U.S. counties. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F2, F22, H, H4, H41, H7, J, J6, J61, J68, R, R5 Research Theme(s): Monetary policy, Real economy and forecasting, Structural challenges, Demographics and labour supply