Can the characteristics of new mortgages predict borrowers’ financial stress? Insights from the 2014 oil price decline Staff Analytical Note 2021-22 Olga Bilyk, Ken Chow, Yang Xu We study the relationship between characteristics of new mortgages and borrowers’ financial stress in Canada’s energy-intensive regions following the 2014 collapse in oil prices. We find that borrowers with limited home equity were more likely to have difficulty repaying debt. Content Type(s): Staff research, Staff analytical notes Topic(s): Credit and credit aggregates, Econometric and statistical methods, Financial stability, Housing JEL Code(s): C, C2, C25, D, D1, D14, G, G2, G21, G5, G51, R, R2, R21
September 20, 2021 Operational details for upcoming secondary market purchases of Government of Canada securities (September 27–October 8) As previously announced, the Bank of Canada (the Bank) launched on April 1, 2020 a program to purchase Government of Canada securities in the secondary market – the Government Bond Purchase Program (GBPP). Content Type(s): Press, Market notices Source(s): Government of Canada Bond Purchase Program
September 15, 2021 CFIF Meeting (September 15, 2021) Content Type(s): Meetings Source(s): Canadian Fixed-Income Forum
September 14, 2021 CFEC Meeting (September 14, 2021) Conference Call Content Type(s): Meetings Source(s): Canadian Foreign Exchange Committee
September 10, 2021 About the Bank of Canada’s balance sheet At the Bank of Canada, our balance sheet reflects the unique role we play as Canada’s central bank. Get an overview of how it’s used to acquire assets and support our core functions, and learn about the types of assets and liabilities we hold. Content Type(s): Background materials
Rising US LNG Exports and Global Natural Gas Price Convergence Staff Discussion Paper 2021-14 Robert Ialenti We assess how rising exports of US liquefied natural gas affect the convergence of natural gas prices worldwide. Our results may have implications for the development of future LNG export capacity in Canada. Content Type(s): Staff research, Staff discussion papers Topic(s): International topics, Market structure and pricing JEL Code(s): C, C3, C32, F, F1, F15, K, K4, K41, L, L9, L95
Canadian housing supply elasticities Staff Analytical Note 2021-21 Nuno Paixao We explain how housing supply elasticities for Canadian cities are estimated. The procedure we use exploits the systematic differences in various cities’ sensitivity to regional house-price cycles. Content Type(s): Staff research, Staff analytical notes Topic(s): Housing JEL Code(s): R, R1, R14, R3, R31, R5, R52
Payment Habits During COVID-19: Evidence from High-Frequency Transaction Data Staff Working Paper 2021-43 Tatjana Dahlhaus, Angelika Welte We examine how consumers have adjusted their payment habits during the COVID-19 pandemic. They seem to perform fewer transactions, spend more in each transaction, use less cash at the point of sale and withdraw cash from ATMs linked to their financial institution more often than from other ATMs. Content Type(s): Staff research, Staff working papers Topic(s): Coronavirus disease (COVID-19), Domestic demand and components, Payment clearing and settlement systems, Recent economic and financial developments JEL Code(s): C, C2, C22, C5, C55, D, D1, D12, E, E2, E21, E4, E42, E5, E52