Cash
Palestine Monetary Authority launches new payment system
Governor says authority is planning measures to discourage the use of cash
RBNZ launches CBDC pilot project
Governor says central bank must maintain legitimacy by “responding to the needs of the public”
Union objects to Colombian central bank’s branch closures
Bank of the Republic is converting some regional offices to cultural centres, closing treasuries
How Afghanistan’s central bank can help prevent famine
The most pressing need is to ease a US dollar banknotes shortage
Currency Benchmarks 2021 – presentation
Central Banking’s currency subject matter specialist Rachael King on access, impact of Covid-19, and more
ECB criticises Polish law on cash use
Frank Elderson says law “may not be in public interest” and says government failed to consult ECB
No ‘convincing case’ for UK retail CBDC, say legislators
Report warns of potential “significant challenges” for financial stability and privacy posed by CBDC
Inside the Bank of Israel’s emergency cash supply exercises
Amir Safranovich and Meir Bitton describe the central bank’s ongoing work on emergency preparedness
Material world: the enduring appeal of paper banknotes
Central banks have used space-age polymers to make banknotes for decades. So why does paper remain predominant in banknote production?
Bank of Canada paper proposes ‘expiry date’ on offline CBDC
CBDC could have expiry date to help consumers recover lost money, authors say
Cash: important for a fairer economy
One interesting economic story over the past year has been the growth in grassroots support for cash payments. Against the backdrop of the Covid‑19 pandemic and now debunked rumours that coins and banknotes could be significant transmission vectors for…
Currency Benchmarks 2021 report – executive summary
Perspectives on staffing, circulation, forecasting, note security and composition, outsourcing and more
RBNZ begins wide-ranging review of cash
New Zealand’s central bank warns of potential harm caused by “retreat from cash”
Australia’s central bank to review banknote distribution model
Decline in transactional cash usage has led to excess capacity
Most currency departments operated remote working models during pandemic
Many central banks employed a split team structure to ensure critical functions were maintained
Advanced economies more likely to outsource counterfeit detection
Emerging market economies more likely to outsource distribution
Central bank currency department costs on the rise
Majority of central banks’ budgets have also increased over the past five years
Higher-denomination banknotes have longer lifespans
Median correlation was 0.9 across 22 central banks
Banknote demand forecast to rise in 2022
Median forecast percentage change was 7.6%, but ranged from -59% to 17%
Half of central banks quarantined banknotes during the pandemic
But only 37% ran a study relating to Covid-19 and banknotes
Banknote forecasting with big data tools on the rise
Three-quarters of central bank currency departments yet to use big data
Emerging economies more likely to employ access-to-cash policies
Central banks split on access-to-cash policies
Raised ink main banknote feature for visually impaired
Different banknote sizes used by over 70% of respondents
Three in 10 currency departments have a climate strategy
Around half of central banks recycle banknotes but few measure their carbon footprint