October 17, 2017
Digital currencies and fintech
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Fintech: Is This Time Different? A Framework for Assessing Risks and Opportunities for Central Banks
We investigate the risks and opportunities to the mandates of central banks arising from fintech developments. -
Adoption of a New Payment Method: Theory and Experimental Evidence
We model the introduction of a new payment method, e.g., e-money, that competes with an existing payment method, e.g., cash. The new payment method involves relatively lower per-transaction costs for both buyers and sellers, but sellers must pay a fixed fee to accept the new payment method. -
June 27, 2017
FSB issues a report on the financial stability implications from FinTech
This FSB press release announces that a working group chaired by Bank of Canada Senior Deputy Governor Carolyn A. Wilkins published a report analyzing the potential financial stability implications of fintech. -
May 25, 2017
Project Jasper: Are Distributed Wholesale Payment Systems Feasible Yet?
This report describes a joint endeavour between public and private sectors to explore a wholesale payment system based on distributed ledger technology (DLT). They find that a stand-alone DLT system is unlikely to be as beneficial as a centralized payment system in terms of core operating costs; however, it could increase financial system efficiency as a result of integration with the broader financial market infrastructure.
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April 19, 2017
Panel: International Monetary Fund
FinTech and the Transformation of Financial Services — Senior Deputy Governor Carolyn A. Wilkins participates in a panel discussion at the International Monetary Fund (IMF). -
The Bank of Canada 2015 Retailer Survey on the Cost of Payment Methods: Calibration for Single-Location Retailers
Calibrated weights are created to (a) reduce the nonresponse bias; (b) reduce the coverage error; and (c) make the weighted estimates from the sample consistent with the target population in terms of certain key variables. -
The Costs of Point-of-Sale Payments in Canada
Using data from our 2014 cost-of-payments survey, we calculate resource costs for cash, debit cards and credit cards. For each payment method, we examine the total cost incurred by consumers, retailers, financial institutions and infrastructures, the Royal Canadian Mint and the Bank of Canada. -
March 15, 2017
IMF Managing Director Welcomes Establishment of High Level Advisory Group on FinTech
This press release, issued by the International Monetary Fund, announces the creation of the High Level Advisory Group on FinTech. Bank of Canada Senior Deputy Governor Carolyn A. Wilkins is among the members of the new advisory group. -
February 21, 2017
The Potential for FinTech to Transform the Financial System in Canada
Comments to the Competition Bureau of Canada.