Financial services

• May 6, 2019

  Risk Sharing, Flexibility and the Future of Mortgages

  Remarks Stephen S. Poloz Canadian Credit Union Association and Winnipeg Chamber of Commerce Winnipeg, Manitoba

  Governor Poloz talks about Canada’s housing market and how the mortgage market could evolve to give Canadians more choice, make the economy more flexible and lower the level of financial system risk.

  Content Type(s): Press, Speeches Topic(s): Financial services, Financial stability, Housing, Recent economic and financial developments, Trade Integration

• Crypto ‘Money’: Perspective of a Couple of Canadian Central Bankers

  Staff Discussion Paper 2019-1 James Chapman, Carolyn A. Wilkins

  The market for cryptoassets has exploded in size in the 10 years since bitcoin was launched. The technology underlying cryptoassets, blockchain, has also been held up as a technology that promises to transform entire industries.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes, Digital Currencies and Fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42, E5, E51, E58, H, H4, P, P4, P43

• 2017 Methods-of-Payment Survey Report

  Staff Discussion Paper 2018-17 Christopher Henry, Kim Huynh, Angelika Welte

  As the sole issuer of bank notes, the Bank of Canada conducts Methods-of-Payment (MOP) surveys to obtain a detailed and representative snapshot of Canadian payment choices, with a focus on cash usage. The 2017 MOP Survey is the third iteration. This paper finds that the overall cash volume and value shares are 33 per cent and 15 per cent, respectively.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes, Digital Currencies and Fintech, Financial services JEL Code(s): D, D8, D83, E, E4, E41

• Should the Central Bank Issue E-money?

  Staff Working Paper 2018-58 Charles M. Kahn, Francisco Rivadeneyra, Tsz-Nga Wong

  Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Digital Currencies and Fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E51, E58

• Is a Cashless Society Problematic?

  Staff Discussion Paper 2018-12 Walter Engert, Ben Fung, Scott Hendry

  The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Bank notes, Digital Currencies and Fintech, Financial services, Payment clearing and settlement systems JEL Code(s): E, E4, E41, E42, E5

• Government of Canada Fixed-Income Market Ecology

  Staff Discussion Paper 2018-10 Léanne Berger-Soucy, Corey Garriott, André Usche

  This discussion paper is the third in the Financial Markets Department’s series on the structure of Canadian financial markets. These papers are called “ecologies” because they study the interactions among market participants, infrastructures, regulations and the terms of the traded contract itself.

  Content Type(s): Staff Research, Staff Discussion Papers Topic(s): Debt Management, Financial Institutions, Financial markets, Financial services JEL Code(s): G, G1, G10, G2, G20, H, H6, H63

• Swedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies

  Staff Working Paper 2018-27 Ben Fung, Scott Hendry, Warren E. Weber

  This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and it had government notes before private bank notes.

  Content Type(s): Staff Research, Staff Working Papers Topic(s): Bank notes, Digital Currencies and Fintech, Financial services JEL Code(s): E, E4, E41, E42, E5, E58
• June 7, 2018

  The Bank of Canada’s Financial System Survey

  Financial System Review - June 2018 Guillaume Bédard-Pagé, Ian Christensen, Scott Kinnear, Maxime Leboeuf

  This report presents the details of a new semi-annual survey that will improve the Bank of Canada’s surveillance across the financial system and deepen efforts to engage with financial system participants. The survey collects expert opinions on the risks to and resilience of the Canadian financial system as well as on emerging trends and financial innovations. The report presents an overview of the survey and provides high-level results from the spring 2018 survey.

  Content Type(s): Publications, Financial System Review Article Topic(s): Financial Institutions, Financial markets, Financial services, Financial stability, Financial system regulation and policies, Recent economic and financial developments JEL Code(s): C, C8, C83, G, G1, G11, G18, G2, G28, G3, G32
• May 1, 2018

  Canada’s Economy and Household Debt: How Big Is the Problem?

  Remarks Stephen S. Poloz Yellowknife Chamber of Commerce Yellowknife, Northwest Territories

  Governor Poloz talks about household debt and how it will affect Canada’s economy and monetary policy for years.

  Content Type(s): Press, Speeches Topic(s): Credit and credit aggregates, Financial services, Financial stability, Interest rates, Monetary Policy, Recent economic and financial developments

• Merchant Acceptance of Cash and Credit Cards at the Point of Sale

  Staff Analytical Note 2018-1 Ben Fung, Kim Huynh, Kerry Nield, Angelika Welte

  Recent data show that the use of credit cards in Canada has been increasing, while the use of cash has been declining. At the same time, only two-thirds of small or medium-sized businesses accept credit cards.

  Content Type(s): Staff Research, Staff Analytical Notes Topic(s): Bank notes, Digital Currencies and Fintech, Econometric and statistical methods, Financial services JEL Code(s): C, C2, D, D1, E, E4, E41