000	00000nam 2200000zi 4500
001	9.950567
003	CaOODSP
005	20250430135713
006	m     o  d f
007	cr mn|||||||||
008	250429t20252025oncad   ob   f|0| 0 eng d
040	|aCaOODSP|beng|erda|cCaOODSP
041	|aeng|beng|bfre
043	|an-cn---
086	1 |aFB3-5/2025-2E-PDF
100	1 |aBrolley, Michael, |eauthor.
245	10|aNon-bank dealing and liquidity bifurcation in fixed-income markets / |cby Michael Brolley and David A. Cimon.
264	1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2025.
264	4|c©2025
300	|a1 online resource (ii, 41 pages) : |billustrations, graphs.
336	|atext|btxt|2rdacontent
337	|acomputer|bc|2rdamedia
338	|aonline resource|bcr|2rdacarrier
490	1 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2025-2
500	|aISSN assigned to different series.
500	|a"Last updated: January 8, 2025."
504	|aIncludes bibliographical references (pages 29-31).
520	3 |a"Non-bank financial institutions, such as principal-trading firms and hedge funds, increasingly compete with bank-owned dealers in fixed-income markets. Some market participants worry that if non-bank financial institutions push out established bank dealers, liquidity will become unreliable during times of stress. We model non-bank entry and state-dependent liquidity provision. Non-bank participants improve liquidity more during normal times than in stress, leading to a bifurcation of liquidity"--Abstract, page ii.
546	|aIncludes abstract in French.
650	0|aFinancial institutions|zCanada|xEconometric models.
650	0|aPricing|xEconometric models.
650	6|aInstitutions financières|zCanada|xModèles économétriques.
650	6|aPrix|xFixation|xModèles économétriques.
710	2 |aBank of Canada, |eissuing body.
830	#0|aStaff working paper (Bank of Canada)|v2025-2.|w(CaOODSP)9.806221
856	40|qPDF|s875 KB|uhttps://publications.gc.ca/collections/collection_2025/banque-bank-canada/FB3-5-2025-2-eng.pdf