CBDC
Bahamas rolls out first phase of CBDC pilot
Pilot will be rolled out to rest of country after June 2020, says governor Rolle, contingent on success of Exuma and Abaco case studies
Negative rates demonstrate shortcomings of currency
Many central banks have rates in negative territory. The distortionary effects of these policies raise broader questions on the design of money itself, writes Barry Topf
Riksbank to work with Accenture on e-krona pilot
First year will see development of user interface for mobile, card and watch-based payments
CBDC has been “over-hyped” – former RBI deputy
Focus on retail CBDCs is a potential distraction from core central banking functions, says Sinha
Central banks should collaborate on multicurrency CBDC – research
Lithuania’s central bank notes national CBDC projects will not solve global payment inefficiencies
Interest-bearing CBDCs could solve welfare trade-off – IMF paper
Making CBDCs interest-bearing would avoid dangers to cash use or bank deposits
Crypto assets may force central banks into policy synchronisation
Paper examines the impact a global crypto asset would have on the “impossible trinity”
What is behind China’s digital currency aspirations?
The PBoC sees CBDC as a means of riding the wave of digitisation, and potentially challenging the US dollar’s dominance, writes Hui Feng
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money is needed for token-based securities settlement, but central bankers are sceptical
Riksbank may not use DLT for e-kronor, says Julin
The Swedish central bank plans to launch a ‘proof of concept’ e-kronor next year as an alternative to cash; no monetary policy component envisaged
Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
PBoC says new digital payment system is almost ready
New electronic payment system will use double-layer framework for digital currency
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
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
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
CBDC need not pose stability threat – paper
Markus Brunnermeier and Dirk Niepelt say some arguments about CBDC are “questionable”
Sarb announces ‘CBDC feasibility project’
Central bank pursues partners to test digital currency
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