The authors present a detailed discussion of the Bank of Canadas' framework for the implementation of monetary policy … implementation of monetary policy. An assessment of the effectiveness of the Bank of Canadas' framework is also provided, including …. -- Financial institutions ; Financial markets ; Monetary policy implementation ; Payment, clearing, and settlement systems …

in the short run. These funds would not rescue banks but they would kick in as soon as a bank's equity is depleted in …

We use a simple model to study whether private payment systems based on bank deposits can provide the optimal level of … safety. In the model, bank deposits backed by projects are subject to default risk that can be mitigated by a depositor's ex … ante and ex post monitoring. Safe payment instruments issued by a narrow bank can also be used as a back-up payment system …

examine what is new about cryptoassets and their technology and how they may affect core central bank functions. We do this by … cryptoassets? Second, how do cryptocurrencies affect a central bank's role in the economy? Third, given the two challenges of a …

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. The tradeoffs depend on i) the technological setup of the e-money system (as …

In April 2022, the Bank of Canada announced that it would continue to use a floor system to implement monetary policy … the deposit rate. In contrast, the Bank's guiding principles of prudence, transparency and neutrality, which govern the … rate close to the Bank's policy interest rate (which is equal to the deposit rate in a floor system). The second is an …