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8939 Results

December 1, 2000

Debt Strategy Consultations 2001—02

Overview The purpose of the consultations is to obtain market views on issues relating to the design and operation of government debt programs over 2001—02, with a focus on the Treasury bill program. The following provides a brief description of the issues to be covered: Context The objectives of debt strategy are to provide stable, […]
December 1, 2000

Background Note on the Treasury Bill Program

1. Introduction This year, the average outstanding stock of treasury bills has been about $85 billion, about half of where it was (almost $165 billion) five years ago. The turnover ratio (the trading volume to the outstanding stock of bills) has declined by even more, to less than half the rate of five years ago. As part […]
November 29, 2000

Government of Canada Pilot Cash Management Bond Buyback Program Launch: Operational Framework

On behalf of the Minister of Finance, the Bank of Canada announced today that the government will be proceeding on a pilot basis with a bond buyback program for cash management purposes. The program is designed to reduce the peak levels of government cash balances needed to redeem large upcoming maturities of Government of Canada marketable bonds. Design of the operational framework has been based on consultations with market participants.
Content Type(s): Press, Announcements
November 16, 2000

Credit Derivatives

Credit derivatives are a useful tool for lenders who want to reduce their exposure to a particular borrower but are unwilling to sell their claims on that borrower. Without actually transferring ownership of the underlying assets, these contracts transfer risk from one counterparty to another. Commercial banks are the major participants in this growing market, using these transactions to diversify their portfolios of loans and other risky assets. The authors examine the size and workings of this relatively new market and discuss the potential of these transactions for distorting existing incentives for risk management and risk monitoring.
November 15, 2000

Recent Performance of the Canadian Economy: A Regional View

This article first outlines the activities of the Bank's regional offices and looks at how regional economic analysis fits into the Bank's decision-making process. The changing role of the regional offices in communications and in information gathering is examined, focusing on the quarterly surveys of industries and associations. The second section reviews, from a regional perspective, economic developments since the Asian crisis and future prospects.
November 14, 2000

Conference Summary: Money, Monetary Policy, and Transmission Mechanisms

This article summarizes the proceedings of a conference hosted by the Bank of Canada in November 1999. Three major themes emerged at the conference. The first concerned uncertainty about the transmission mechanism by which monetary policy affects output and inflation. The second concerned the potential usefulness of monetary aggregates in guiding the economy along a stable non-inflationary growth path. The third was the recent developments in dynamic monetary general-equilibrium models. The work presented suggests that a wide range of models is useful for understanding the various paths by which monetary policy actions might influence the economy.
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