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Chu, Parnell; Johnson, Grahame; Kinnear, Scott; … - 2022

The concept of settlement balances is simple in its definition but complex when attempting to understand how they interplay between a central bank and the financial system. Settlement balances can be defined as interest-bearing deposits that belong to participants of Canada's payment system and...

Persistent link: https://www.econbiz.de/10013256950

Assessing the impact of demand shocks on the US term premium

Barnett, Russell; Zmitrowicz, Konrad - 2018

During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...

Persistent link: https://www.econbiz.de/10011873794

Assessing the impact of the Bank of Canada's government bond purchases

Azizova, Chinara; Witmer, Jonathan; Zhang, Xu - 2024

Persistent link: https://www.econbiz.de/10014577895

Using speed and credit limits to address the procyclicality of initial margin at central counterparties

Chande, Nikil; Labelle, Nicholas - 2016

this approach, we allow loss sharing to be capped through the allocation of bilateral credit limits. We undertake an …

Persistent link: https://www.econbiz.de/10011538621

Canadian securities lending market ecology

Johal, Jesse; Roberts, Joanna; Sim, John - 2019

This is the fourth of the Financial Markets Department's descriptions of Canadian financial industrial organization. The paper discusses the organization of the securities lending market in Canada. We outline key characteristics of securities lending contracts, participants in the securities...

Persistent link: https://www.econbiz.de/10012030423

A primer on the Canadian bankers' acceptance market

McRae, Kaetlynd; Auger, Danny - 2018

access to the primary funding market because of their size and credit ratings. More recently, BAs have also become an … increasingly important funding source for large corporate borrowers because of credit-rating downgrades in certain sectors and … short-term income and liquidity because of their relatively attractive yield, liquidity and credit ratings. The BA market is …

Persistent link: https://www.econbiz.de/10011863026

Procyclicality in central counterparty margin models : a conceptual tool kit and the key parameters

Odabasioglu, Alper - 2023

Central counterparty (CCP) initial margin models are procyclical by nature, and CCPs use antiprocyclicality (APC) tools to mitigate this. However, despite the widespread use of such tools, margin models of CCPs around the world reacted severely to the heightened volatility during the March 2020...

Persistent link: https://www.econbiz.de/10014450616

The ecology of automated market makers

Ho, Annetta; Cazan, Cosmin; Schrumm, Andrew - 2024

This paper describes the ecology of automated market makers (AMMs), which are the most popular decentralized exchange model for the pricing and trading of crypto assets within decentralized finance. We use blockchain data to identify trends in user adoption and trading volumes of AMMs. Given the...

Persistent link: https://www.econbiz.de/10014577908

The role of central banks in promoting financial stability : an international perspective

Cunningham, Rose M.; Friedrich, Christian - 2016

The 2007-09 global financial crisis has led policy-makers around the world, including central banks, to refocus their efforts to promote financial stability. As part of this process, central banks became quite active in supporting financial stability in a variety of ways, such as publicly...

Persistent link: https://www.econbiz.de/10011515917

Integrating uncertainty and monetary policy-making : a practitioner's perspective

Poloz, Stephen S. - 2014

This paper discusses how central banking is evolving in light of recent experience, with particular emphasis on the incorporation of uncertainty into policy decision-making. The sort of post-crisis uncertainty that central banks are dealing with today is more profound than that which is...

Persistent link: https://www.econbiz.de/10010414864