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| 01928nam 2200349zi 4500 |
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| 001 | 9.888895 |
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| 003 | CaOODSP |
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| 005 | 20221107172126 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 200703t20202020onc ob f|0| 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2020-26E-PDF |
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| 100 | 1 |aWitmer, Jonathan,|d1975- |eauthor. |
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| 245 | 10|aMonetary policy implementation and payment system modernization / |cby Jonathan Witmer. |
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| 264 | 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2020. |
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| 264 | 4|c©2020 |
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| 300 | |a1 online resource (iii, 21 pages) |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2020-26 |
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| 500 | |aCover title. |
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| 500 | |a"Last updated: June 30, 2020." |
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| 504 | |aIncludes bibliographical references (page 21). |
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| 520 | |a"24/7 payment settlement may impact the demand for central bank reserves and thus could have an effect on monetary policy implementation. Using the standard workhorse model of monetary policy implementation (Poole, 1968), we show that 24/7 payment settlement induces a precautionary demand for central bank balances. Absent any changes or response by the central bank, this will put upward pressure on the overnight interest rate in a standard corridor system of monetary policy implementation. A floor system is much less sensitive to this change, as long as excess balances are large enough"--Abstract. |
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| 650 | 0|aMonetary policy. |
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| 650 | 6|aPolitique monétaire. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2020-26.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s414 KB|uhttps://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-5-2020-26-eng.pdf |
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