Incumbent banks should not rely on central banks to come to their aid should the financial landscape become disrupted by new payment service providers, one of Europe’s senior central bank officials has warned.
Speaking alongside a panel of experts at the Spring World Bank and International Monetary Fund meetings on April 10, Benoît Cœuré said the European Central Bank was “not in the business of helping banks”.
“Societies need to choose how they want to pay for things – not central banks or
- Motivations and prospects for central bank digital currency
- The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
- Central bankers call for ‘practical action’ to tackle climate risks
- Fintech and the future – Improving financial literacy
- ‘They could do nothing’: insights into political interference at the Fed