Central bank digital currency
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
Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
PBoC says new digital payment system is almost ready
New electronic payment system will use double-layer framework for digital currency
Quant Lipton pans Facebook’s Libra
Former Bank of America exec sees more potential in rival projects, such as utility settlement coin
Bundesbank takes light-touch approach to Libra
Governments should be “neutral” on some digital currencies, says German central bank
E-money poses serious threats to financial system, says IMF paper
Paper recommends a ‘synthetic CBDC’ to preserve financial stability
Are central bank digital currencies inevitable?
Launching a CBDC could protect the pre-eminence of public money, a new report argues
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC, as officials voice concerns over Facebook’s Libra
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
CBDCs could protect citizens from e-currency abuse, official says
Citizens in cashless societies could be vulnerable to monopoly power, says Sveriges Riksbank official
IMF: some central banks ‘on the verge’ of piloting CBDCs
IMF survey also highlights need for greater co-operation on fintech regulation
Effects of CBDC on lending depend on level of competition – BoC researchers
CBDC could increase bank lending if banks have some market power, researchers say
CBDC could raise bank funding costs – Philadelphia Fed
Choosing an appropriate interest rate could help alleviate problem, say researchers
National Bank of Ukraine continues to focus on CBDC
‘E-hryvnia’ pilot project was completed in February
Riksbank opens procurement for e-krona development
Central bank intends to commission platform for electronic central bank payments in 2020
Sarb announces ‘CBDC feasibility project’
Central bank pursues partners to test digital currency
Crypto assets have little impact on monetary policy, says ECB team
Task force concludes crypto assets do not fulfil functions of money
Draghi dismisses crypto assets
ECB head describes bitcoin as “very, very risky”
Thailand develops prototype for blockchain-based CBDC
The central bank’s collaborators have made progress on ‘Project Inthanon’
Motivations and prospects for central bank digital currency
Sayuri Shirai surveys the many forces driving increased interest in CBDC, and its flip side – changing cash dynamics
Pakistan central bank opens up financial sector to non-bank players
Finance minister pledges central bank-issued digital currency by 2025
CBDC may see central banks adopt retail lending role – BIS’s Carstens
Two-tier banking system could be turned on its head by CBDC, but BIS will “flash warning light” if central banks fail to appropriately consider stability, Carstens says
Bahamas to explore CBDC access to government securities
Governor John Rolle outlines some near-term payment system reforms