November 24, 2020 Bank of Canada announces finalists for the sixth annual Governor’s Challenge Media Relations Ottawa, Ontario The Bank of Canada has announced the five finalist teams in the 2020-21 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, Press releases Source(s): The Governor's Challenge
Optimal Quantitative Easing in a Monetary Union Staff working paper 2020-49 Serdar Kabaca, Renske Maas, Kostas Mavromatis, Romanos Priftis How should a central bank conduct quantitative easing (QE) in a monetary union when regions differ in their size and portfolio characteristics? Optimal QE policy suggests allocating greater purchases from the region that faces stronger portfolio frictions, and not necessarily according to each region’s size. Content Type(s): Staff research, Staff working papers JEL Code(s): E, E4, E43, E5, E52, E58 Research Theme(s): Models and tools, Economic models, Monetary policy, Monetary policy tools and implementation
November 23, 2020 Taking the pulse of Canada’s financial system Speech summary Toni Gravelle Autorité des marchés financiers Montréal, Quebec Deputy Governor Toni Gravelle discusses how the Bank of Canada is carefully monitoring our financial system as the economy recovers from the COVID‑19 pandemic. Content Type(s): Press, Speeches and appearances, Speech summaries Subject(s): Financial system, Financial markets, Financial stability
November 23, 2020 Monitoring payment deferrals during the COVID-19 pandemic Geneviève Vallée Since the start of the COVID-19 pandemic, Canada’s financial institutions have allowed borrowers to defer payments on a range of loans. In a series of charts, we investigate what payment deferrals tell us about the financial health of borrowers and the related risks to financial stability. Content Type(s): Publications, Financial System Hub articles
November 23, 2020 Financial stability and the COVID-19 pandemic Remarks (delivered virtually) Toni Gravelle Autorité des marchés financiers Montréal, Quebec Deputy Governor Toni Gravelle provides an assessment of risks to the stability of the Canadian financial system, including risks stemming from the COVID-19 pandemic. Content Type(s): Press, Speeches and appearances, Remarks Subject(s): Financial system, Financial markets, Financial stability, Monetary policy, Economy/Economic growth
November 20, 2020 Financial System Survey highlights—November 2020 This article presents the key results from the autumn 2020 Bank of Canada Financial System Survey, conducted from September 8 to September 25, 2020. The survey included a special section on the impact of and the responses to COVID-19. Content Type(s): Publications, Financial System Survey
Concentration in the market of authorized participants of US fixed-income exchange-traded funds Staff analytical note 2020-27 Rohan Arora, Sébastien Betermier, Guillaume Ouellet Leblanc, Adriano Palumbo, Ryan Shotlander We show that a small number of authorized participants (APs) actively create and redeem shares of US-listed fixed-income exchange-traded funds (FI-ETFs). In 2019, three APs performed 82 percent of gross creations and redemptions of FI-ETF shares. In contrast, the group of active APs for equity ETFs was much more diverse. Content Type(s): Staff research, Staff analytical notes JEL Code(s): G, G1, G2, G20, G23 Research Theme(s): Financial markets and funds management, Market functioning, Market structure, Financial system, Financial stability and systemic risk