The price of investment banking services in Canada declined last year, according to a new data set released Monday by Statistics Canada (Statscan).
The data are the first-ever published for the federal government agency’s investment banking services price index (IBSPI), which aims to measure movements in the prices charged for investment banking.
The index data originates in 2010, and shows that prices declined during 2011 and 2012, before ticking up and climbing to slightly above 2010 levels in 2014 (up 3.5% year over year). In 2015, prices slipped back 0.9% from the previous year, StatsCan says in a statement.
The new index covers services that facilitate both debt and equity issuance, including common and preferred shares, income trusts, and structured funds, along with corporate debt. It doesn’t include government debt underwriting.
The index “will provide better estimates of real output, productivity and price change in financial services in Canada,” StatsCan adds.