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Funding Advantage and Market Discipline in the Canadian Banking Sector

Beyhaghi, Mehdi; D'Souza, Chris; Roberts, Gordon S. - Bank of Canada - 2013

’ funding advantage in Canada, and on the extent to which market discipline exists across different securities issued by the … Canadian banks. The banking sector in Canada provides a unique setting in which to examine market discipline along with the … prospects of proposed reforms, because Canada has no history of government bailouts. Our results suggest that large banks likely …

Persistent link: https://www.econbiz.de/10010723573

Ownership Concentration and Competition in Banking Markets

Lai, Alexandra; Solomon, Raphael - Bank of Canada - 2006

Many countries prohibit large shareholdings in their domestic banks. The authors examine whether such a restriction restrains competition in a duopolistic loan market. Blockholders may influence managers' output decisions by choosing capital structure, as in Brander and Lewis (1986). For the...

Persistent link: https://www.econbiz.de/10005162422

The Ex-Ante Versus Ex-Post Effect of Public Guarantees

Damar, H. Evren; Gropp, Reint; Mordel, Adi - Bank of Canada - 2012

In October 2006, Dominion Bond Rating Service (DBRS) introduced new ratings for banks that account for the potential of government support. The rating changes are not a reflection of any changes in the respective banks’ credit fundamentals. We use this natural experiment to evaluate the...

Persistent link: https://www.econbiz.de/10010559813

The Financial Services Sector: Past Changes and Future Prospects

Freedman, C.; Goodlet, C. - Bank of Canada - 1998

The financial service industry has been undergoing significant change in recent years. This paper analyzes some key developments affecting the industry and examines some important issues facing the industry and its regulators. Changes discussed include the way services are provided, the...

Persistent link: https://www.econbiz.de/10005673245

Improving Public Equity Markets? No Pain, No Gain

Kartashova, Katya - Bank of Canada - 2014

This paper quantifies the effects of improving public equity markets on macroeconomic aggregates and welfare. I use an open-economy extension of Angeletos (2007), where entrepreneurs face idiosyncratic productivity risk in privately held firms. They can diversify by investing in publicly traded...

Persistent link: https://www.econbiz.de/10010960401

Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital

Atta-Mensah, Joseph - Bank of Canada - 2004

The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing. The issue of this type of bond could provide an opportunity for...

Persistent link: https://www.econbiz.de/10005162471