Distributed ledger
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
ECB announces dual-track DLT strategy
Short-term programme connecting platforms and Target services to launch in 2026
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
Dollar stablecoins would reintroduce credit risk – Cipollone
ECB board member makes renewed case for digital euro, announces collateral management system
Project Agorá ‘faces fragmentation challenges’
Conference hears how netting and liquidity-saving mechanisms are often at odds with T+0 settlement
BIS, ECB, BoE develop synchronised cross-border FX transactions
BIS says Project Meridian FX reduces liquidity, credit and settlement risk
Central Banking Awards 2025: first winners announced
Awards go to central bank of the year, reserve manager, risk manager and more
Fintech Benchmarks 2025 – executive summary
Benchmarks shed light on research priorities, progress with CBDC and use of cloud
MNB launches DLT-based register for banks and insurers
Central bank says initiative aims to reduce administrative burden for firms and consumers
Crypto custody a bit(coin) closer after US accounting U-turn
Federal banking supervisors expected to eventually relax regimes for safeguarding digital assets
HKMA subsidises tokenised bond issuances
Issuers can receive up to HK$2.5 million each for maximum of two issuances
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Deutsche Bundesbank joins Project Guardian
Germany joins France, Japan, Switzerland and UK in MAS tokenisation initiative
E-krona adviser on offline trials, legislative changes and rollouts of CBDCs
Sveriges Riksbank’s Johan Schmalholz speaks about latest CBDC developments on sidelines of Central Banking’s Windsor training series
HKMA partners with Thailand and Brazil on cross-border tokens
Interoperability work using tokenisation will focus on settlement in trade finance and carbon credits
Brazil announces new themes for phase two of CBDC pilot
BCB selects private companies to test implementation of “smart contract” for drex currency
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
Kyrgyzstan opens public consultation on laws governing CBDC
Amendments to legislation affecting digital som are due to come into force in 2027
Innovate to defend status of central bank money, says BoE
Bank “exploring options” to widen access to settlement
Banque de France and HKMA to conduct cross-border CBDC test
HKMA is the first non-European central bank to join the Eurosystem’s wholesale DLT settlement trials