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008240829t20242024onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
043 |an-cn-qu
0861 |aFB3-5/2024-26E-PDF
1001 |aAllen, Jason, |eauthor.
24510|aCredit card minimum payment restrictions / |cby Jason Allen, Michael Boutros and Benedict Guttman-Kenney.
264 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2024.
264 4|c©2024
300 |a1 online resource (ii, 56 pages) : |bcolour illustrations.
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aStaff working paper = Document de travail du personnel, |y1701-9397 ; |v2024-26
500 |aISSN assigned to different series.
500 |a"Last updated: July 15, 2024."
504 |aIncludes bibliographical references (pages 41-45).
5203 |a"We study a government policy that restricts repayment choices with the aim of reducing credit card debt. The policy requires the minimum payment on credit card balances in Quebec to be at least 2% of the statement balance for cards opened before August 2019 and at least 5% for cards opened after August 2019. The rest of Canada is unaffected. We estimate this policy's effects by applying a difference-in-differences methodology to comprehensive, Canadian consumer credit-reporting data. The policy causes a persistent increase in minimum payments. The policy has trade-offs: reducing revolving debt comes at a cost of reducing credit access, and potentially increasing delinquency"--Abstract, page ii.
546 |aIncludes abstracts in English and French.
650 0|aCredit cards|xGovernment policy|zQuébec (Province)|xEconometric models.
650 0|aConsumer credit|xGovernment policy|zQuébec (Province)|xEconometric models.
650 6|aCartes de crédit|xPolitique gouvernementale|zQuébec (Province)|xModèles économétriques.
650 6|aCrédit à la consommation|xPolitique gouvernementale|zQuébec (Province)|xModèles économétriques.
7102 |aBank of Canada, |eissuing body.
830#0|aStaff working paper (Bank of Canada)|v2024-26.|w(CaOODSP)9.806221
85640|qPDF|s5.34 MB|uhttps://publications.gc.ca/collections/collection_2024/banque-bank-canada/FB3-5-2024-26-eng.pdf