Bank of Canada (BoC)
Paper proposes method to estimate network of exposures
Researcher draws on aggregate exposures and market data to build a more complete picture of the network of bank exposures
Fintech not an ‘immediate threat’ to monetary policy – paper
Research from the Bank of Canada explores the impact fintech could have on central banks’ responsibilities, deeming it “too early to judge” the effect on mandates
Bank of Canada hikes for first time in seven years
Bank of Canada becomes the latest advanced economy central bank to hike as the economy proves robust and inflation moves towards target
Bank of Canada broadening intelligence gathering with new survey
Systemic risk survey will be launched next year, says deputy governor, emphasising market intelligence can never provide a “perfectly complete picture”
Bank of Canada prepares to open redesigned museum
Museum set to reopen in July after “complete reimagining”, including interactive exhibits on the central bank’s mandate, inflation-based games and a two-tonne “Yap stone”
Wilkins offers optimistic assessment of Canadian economy
Carolyn Wilkins says Bank of Canada will assess whether current “considerable” monetary stimulus is still required; growth across sectors is an “encouraging” sign for the economy
Bank of Canada wary of hotter housing market
The central bank lists household indebtedness and regional price increases as two of its top concerns; Poloz says it is too early to say if more macro-pru needs to be implemented
Central banks should test robustness of their main macro models – paper
Bank of Canada paper says users of large-scale macroeconomic models should develop tools to assess whether non-linearities could be distorting results
Pure DLT systems not yet suitable for wholesale payments – Bank of Canada
The current state of distributed ledger technology makes it too inefficient to run as a pure system, though elements could still be useful, researchers say; details of RTGS project emerge
LTV ratio more effective than DTS in Canada – BIS paper
Paper examines the effect of recent macro-prudential policies targeting the housing market, finding households will borrow more if they can
Trade uncertainty is harming growth prospects – Poloz
Bank of Canada governor says uncertainty surrounding US trade policies is harming investment in both Canada and Mexico; Poloz is “not surprised” investors are reacting cautiously
Fintech not a danger to banking, say IMF panellists
Bank of Canada deputy says banks should be ready to embrace fintech, as the benefits for grow; IMF fintech working group hosts first panel at Spring Meeting
Bank of Canada’s Vardy and Harrison on the move to ‘peacetime’ communications
Central bank has reshaped its communications approach post-crisis, embedding it into the policy process and encouraging markets to think for themselves
New paper examines central bank digital currency models
Bank of Canada experiment proves distributed ledger networks can be used to settle payments; paper examines the difference between retail and wholesale models
Schembri: mix of factors holding back Canadian investment
The outlook is improving, the deputy governor says; openness to trade and immigration are likely to boost growth
Bank of Canada’s C$460m refurbishment on time and on budget – Poloz
Construction workers have spent past three years gutting old head office and renewing interior to meet modern standards; annual report sheds light on costs
The winners of the 2017 Central Banking Awards
Bank of England wins Central Bank of the Year, while Carlos Fernández Valdovinos picks up Governor of the Year; Donald Kohn receives Lifetime Achievement Award; 15 more awards unveiled
Government regulation needed for digital currencies to remain secure – paper
Canadian paper draws historical comparison between banknotes and digital currencies, concluding regulation is needed to ensure safety
Risk management services provider of the year: OpenLink
OpenLink has continued the evolution of its Findur product with the development of collateral management functionality, notably supporting the Bank of Canada in its move towards collateral posting
Communications are Canada’s forte, latest set of awards show
Bank of Canada scoops Central Banking’s Transparency Award for 2017, while currency providers dominate the market practitioner categories
Transparency: Bank of Canada
Communications embedded in the policy process, fresh thinking on shared content and an expanded senior team show the central bank’s commitment to staying at the leading edge of transparency
Technology provider of the year (supervision): Vizor Software
Vizor Software has transitioned from a niche consultancy to a technology provider of choice for central banks in 30 countries, including Canada, the UK and Saudi Arabia
Canada’s Schembri highlights new inflation communication method
Bank of Canada has adopted three-pronged core inflation approach but now only publishes forecasts of headline inflation in its reports
Poloz considers the future of economic modelling
Theoretical and empirical two-pronged approach likely to stay, governor says, though economists are still on the hunt for the “holy grail” single model