Currency
CBDCs are subject to ‘trilemma’, ECB paper warns
Research builds on Diamond-Dybvig model to examine possibility of runs on central banks
CBDCs are unlikely to be successful
Most money is already digital, and currency has lost its central function, writes former Barbados governor DeLisle Worrell
Banknotes: October to December 2023
A round-up of news and salient issues that have affected central bankers in the past three months
ECB invites entrants for wholesale ‘digital euro’ trial
CBDC work in 2024 will test Banque de France, Bank of Italy and Bundesbank DLT solutions
Bank of Russia raises rates again
Nabiullina warns of “pro-inflationary risks” from increased government spending on war
Taiwan central bank completes feasibility study on wCBDC
Deputy governor says CBDCs could form “foundation of trust” for future monetary system
Canada introduces first Charles III coins
Argentina updates 2,000-peso note; ECCB commemorative note honours cricketer; and more
Bank of Canada finds widespread public hostility to CBDC
Respondents expressed distrust of government and lack of interest in digital dollar
Central banks of Korea and Italy boost co-operation on payment systems
Bank of Korea and Bank of Italy to exchange knowledge on RTGS and CBDC
MPs cool on UK CBDC prospects
Treasury select committee says upsides to digital pound are “unclear”
ECB selects possible topics for new banknotes
“European culture” and “rivers and birds” enter final selection phase
Four foreign banks tap into digital yuan market
Standard Chartered and HSBC enable clients in mainland China to access e-CNY services
Uganda central bank cautions against currency ‘bouquets’
Practice makes it impossible to run banknotes through ATMs and counting machines
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
Currency Benchmarks 2023 – model banks analysis
Data reveals how advanced and emerging market central banks structure their currency operations
CBDC features will have financial stability effects – Fed paper
Design choices could cut chance of bank runs and disintermediation, authors say
China and Saudi Arabia set up currency swap line
Three-year swap line will provide liquidity to both sides of up to $6.98 billion
Nigerian central bank warns against cash panic
Central bank ends currency replacement plan as Cardoso pledges more limited role
Currency Benchmarks 2023 report – steady as they go
Data hints cash is slowly changing from payment method to store of value
US cash usage may have hit its floor, says Boston Fed
Consumers prefer credit cards, the top payment method in 2022, for online payments
CBDCs could challenge foundations of monetary economics, says Tombini
BIS Americas chief thinks digital currencies could co-exist with other rapid payment systems