April 17, 2024 Retail payments supervision: Supervisory policies and guidelines Access all supervisory policies and guidelines on registration and supervision related to the Retail Payment Activities Act and the Retail Payment Activities Regulations.
April 16, 2024 Fireside Chat: Tiff Macklem, Governor 13:15 (ET)Wilson CenterWashington DCEconomic trends in North America Content Type(s): Upcoming events
April 16, 2024 Fireside Chat with Tiff Macklem, Governor of the Bank of Canada On Tuesday, April 16, 2024, Tiff Macklem, Governor of the Bank of Canada, will speak at the Wilson Center’s Washington Forum on the Canadian Economy on the sidelines of the IMF-WB spring meetings. Content Type(s): Press, Media advisories
April 15, 2024 CARR to begin publishing data on the transition of CDOR based loans to CORRA To facilitate the monitoring of the transition away from CDOR based loans to CORRA and Term CORRA, CARR will publish a monthly report on the aggregated outstanding amount of CDOR loans that have not transitioned to other benchmarks, as well as the volume of new loans, including any transitioned loans, referencing CORRA and/or Term CORRA. Content Type(s): Press, Market notices Source(s): Canadian Alternative Reference Rate Working Group
Unintended Consequences of the Home Affordable Refinance Program Staff Working Paper 2024-11 Phoebe Tian, Chen Zheng We investigate the unintended consequences of the Home Affordable Refinance Program (HARP). Originally designed to help borrowers refinance after the 2008–09 global financial crisis, HARP inadvertently strengthened the market power of incumbent lenders by creating a cost advantage for them. Despite a 2013 policy rectifying this cost advantage, we still find significant welfare losses for borrowers. Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions JEL Code(s): G, G2, G21, G5, G51, L, L5, L51
April 10, 2024 Bank of Canada Media Interview – The Globe and Mail Tiff Macklem, Governor of the Bank of Canada, gave an interview to Mark Rendell of The Globe and Mail. Content Type(s): Press, Media advisories
April 10, 2024 Bank of Canada Media Interview – Midi info Nicolas Vincent, Deputy Governor of the Bank of Canada, gave an interview to Radio-Canada’s Alec Castonguay. The interview will air today on Midi info. Content Type(s): Press, Media advisories
April 10, 2024 Bank of Canada maintains policy rate, continues quantitative tightening Media Relations Ottawa, Ontario The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. Content Type(s): Press, Press releases