Feature/Currency
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
CBDC and bank intermediation in the eurozone
An assessment of the impact different ‘digital euro’ designs related to remuneration and usage limits could have on the banking system, including during times of stress*
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Digital revolution: perks of a global Chinese CBDC
Chinese central bank digital currency has the potential to boost the renminbi’s internationalisation further, but only if international investors have access.
China’s capital controls: here to stay?
With China’s share of the domestic central government bond market significantly increasing in just a few years, and the International Monetary Fund including the renminbi in its special drawing rights basket of currencies, China is enjoying growing…
Five years of the renminbi in SDR and its adoption in central bank portfolios
Policy-makers discuss what has impacted the renminbi’s adoption as a global reserve asset over the past five years.
Cash infrastructure as public good – implications for the cash cycle
Efforts are under way in the Eurosystem to safeguard cash infrastructure as a ‘public good’ even as transaction volumes have fallen significantly. How can policy-makers strike the right balance?
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
Modernising currency management
Central banks continue to strive to optimise currency operations at a time when the relative importance of cash is falling, but usage continues to grow. William Towning looks back at the last 30 years
The role of e-cash in China
The use of e-cash stored on integrated circuit cards notably reduces cash handling fees and increases security. It also offers greater convenience notwithstanding the rise of mobile payments
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
Canada’s polymer versus paper substrate cycle
Empirical evidence indicates the switch to a polymer substrate has improved the lifespan of Canadian banknotes, write Ramesh Paskarathas, Lynne Graaskamp, Erik Balodis and Theodoros Garanzotis
Consultancy and advisory provider of the year (currency management): De La Rue
The UK-based company is helping central banks monitor the lifespan of banknotes in a bid to improve stock management and cost-effectiveness of currency operations