Easing Restrictions On The Stripping And Reconstitution Of Government Of Canada Bonds

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Easing Restrictions on the Stripping and Reconstitution of Government of Canada Bonds

Author : David Jamieson Bolder
Publisher : Unknown
Page : 22 pages
File Size : 48,5 Mb
Release : 2008
Category : Electronic
ISBN : OCLC:1290308912

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Easing Restrictions on the Stripping and Reconstitution of Government of Canada Bonds by David Jamieson Bolder Pdf

The Department of Finance and the Bank of Canada, as its fiscal agent, work closely with financial market participants in the management of the federal government's debt program. From the government's perspective, maintaining a liquid well-functioning market in Government of Canada securities is a key factor in ensuring that debt-service costs are minimized. It is also of general benefit to other participants in the domestic fixed-income market, since Government of Canada securities are a key benchmark for pricing other fixed-income securities.This paper reviews one method for limiting the ability of market participants to exercise undue influence over the prices of individual securities by easing restrictions that limit the fungibility of coupon and principal cash flows in the market for stripped securities. The two restrictions considered include the current ceiling on reconstitution, which states that a bond may not be reconstituted beyond the amount originally issued, and the present non-fungiblility of interest and coupon payments. The authors examine the effectiveness of the alternatives, provide an analysis of the potential market and legal uncertainties that might arise, and finally include a brief review of the stripping practices in some other major government bond markets. The analysis suggests that the potential changes could constitute a useful approach for limiting the development of a squeeze in certain circumstances. These alternatives could, however, create uncertainty with regard to the actual amount outstanding of any given bond. They also raise some questions with respect to the tax treatment of fungible interest-principal payments, as well as questions about the potential for the manipulation of the market for other bonds. Moreover, a review of other major government bond markets reveals that restrictions, similar to those currently in force in Canada, also apply in the United States, the United Kingdom, and Germany.

Yield Curve Modelling at the Bank of Canada

Author : David Bolder,David Stréliski,Bank of Canada
Publisher : Unknown
Page : 70 pages
File Size : 48,5 Mb
Release : 1999
Category : Government securities
ISBN : 0662276027

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Yield Curve Modelling at the Bank of Canada by David Bolder,David Stréliski,Bank of Canada Pdf

Document de Travail

Author : Anonim
Publisher : Unknown
Page : 46 pages
File Size : 54,9 Mb
Release : 1998
Category : Canada
ISBN : UCAL:$C94413

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Document de Travail by Anonim Pdf

Capital Gains and Inflation Taxes in a Life-cycle Model

Author : Charles Leung,Guang-Jia Zhang,Bank of Canada
Publisher : Unknown
Page : 44 pages
File Size : 44,8 Mb
Release : 1999
Category : Capital gains tax
ISBN : IND:30000112263474

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Capital Gains and Inflation Taxes in a Life-cycle Model by Charles Leung,Guang-Jia Zhang,Bank of Canada Pdf

Final Report of the Truth and Reconciliation Commission of Canada, Volume One: Summary

Author : Truth and Reconciliation Commission of Canada
Publisher : James Lorimer & Company
Page : 673 pages
File Size : 43,9 Mb
Release : 2015-07-22
Category : History
ISBN : 9781459410695

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Final Report of the Truth and Reconciliation Commission of Canada, Volume One: Summary by Truth and Reconciliation Commission of Canada Pdf

This is the Final Report of Canada's Truth and Reconciliation Commission and its six-year investigation of the residential school system for Aboriginal youth and the legacy of these schools. This report, the summary volume, includes the history of residential schools, the legacy of that school system, and the full text of the Commission's 94 recommendations for action to address that legacy. This report lays bare a part of Canada's history that until recently was little-known to most non-Aboriginal Canadians. The Commission discusses the logic of the colonization of Canada's territories, and why and how policy and practice developed to end the existence of distinct societies of Aboriginal peoples. Using brief excerpts from the powerful testimony heard from Survivors, this report documents the residential school system which forced children into institutions where they were forbidden to speak their language, required to discard their clothing in favour of institutional wear, given inadequate food, housed in inferior and fire-prone buildings, required to work when they should have been studying, and subjected to emotional, psychological and often physical abuse. In this setting, cruel punishments were all too common, as was sexual abuse. More than 30,000 Survivors have been compensated financially by the Government of Canada for their experiences in residential schools, but the legacy of this experience is ongoing today. This report explains the links to high rates of Aboriginal children being taken from their families, abuse of drugs and alcohol, and high rates of suicide. The report documents the drastic decline in the presence of Aboriginal languages, even as Survivors and others work to maintain their distinctive cultures, traditions, and governance. The report offers 94 calls to action on the part of governments, churches, public institutions and non-Aboriginal Canadians as a path to meaningful reconciliation of Canada today with Aboriginal citizens. Even though the historical experience of residential schools constituted an act of cultural genocide by Canadian government authorities, the United Nation's declaration of the rights of aboriginal peoples and the specific recommendations of the Commission offer a path to move from apology for these events to true reconciliation that can be embraced by all Canadians.

Economic Policy Review

Author : Anonim
Publisher : Unknown
Page : 758 pages
File Size : 55,5 Mb
Release : 2000
Category : Finance
ISBN : CORNELL:31924088638469

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Economic Policy Review by Anonim Pdf

Fiscal Policy in an Era of Surpluses

Author : Anonim
Publisher : Unknown
Page : 172 pages
File Size : 53,7 Mb
Release : 2000
Category : Finance
ISBN : UCSD:31822028400109

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Fiscal Policy in an Era of Surpluses by Anonim Pdf

Guidelines for Public Debt Management -- Amended

Author : International Monetary Fund,World Bank
Publisher : International Monetary Fund
Page : 39 pages
File Size : 40,7 Mb
Release : 2003-09-12
Category : Business & Economics
ISBN : 9781498328920

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Guidelines for Public Debt Management -- Amended by International Monetary Fund,World Bank Pdf

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Free Market Zones

Author : Herbert G. Grubel
Publisher : Unknown
Page : 164 pages
File Size : 49,7 Mb
Release : 1983
Category : Business enterprises
ISBN : UOM:39015046358845

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Free Market Zones by Herbert G. Grubel Pdf

The Business of Investment Banking

Author : K. Thomas Liaw
Publisher : John Wiley & Sons
Page : 384 pages
File Size : 54,9 Mb
Release : 2011-10-04
Category : Business & Economics
ISBN : 9781118127650

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The Business of Investment Banking by K. Thomas Liaw Pdf

A comprehensive overview of investment banking for professionals and students The investment banking industry has changed dramatically since the 2008 financial crisis. Three of the top five investment banks in the United States have disappeared, while Goldman Sachs and Morgan Stanley have converted to commercial banking charters. This Third Edition of The Business of Investment Banking explains the changes and discusses new opportunities for students and professionals seeking to advance their careers in this intensely competitive field. The recent financial regulation overhaul, including the Dodd-Frank legislation, is changing what investment banks do and how they do it, while the Volcker rule has shaken up trading desks everywhere. This new edition updates investment banking industry shifts in practices, trends, regulations, and statistics Includes new chapters on investment banking in BRIC countries, as Brazil, Russia, India, and China now account for a quarter of the global economy Explains the shift in the listing of securities away from New York to various financial centers around the world, and how major exchanges compete for the same business This new edition, reflecting the current state of the investment banking industry, arrives in time to better serve professionals wanting to advance their careers and students just beginning theirs.

Philanthropic Foundations in Canada

Author : Peter R Elson,Sylvain A Lefèvre,Jean-Marc Fontan
Publisher : Unknown
Page : 334 pages
File Size : 46,6 Mb
Release : 2020-05-11
Category : Social Science
ISBN : 0228830044

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Philanthropic Foundations in Canada by Peter R Elson,Sylvain A Lefèvre,Jean-Marc Fontan Pdf

This book is a turning point in the evolution of Canada's philanthropic landscape - a testament to new and ground-breaking knowledge that reflects a distinct Canadian foundation sector. Explore established and emerging landscapes, Indigenous perspectives on philanthropy and creative and innovative pathways to change.