CBDC
BoE and BIS develop digital currency APIs
Bank of Canada, Central Bank of Hungary, Visa, Mastercard and Amazon involved
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
BoJ explores holdings limits for CBDC accounts
Central bank says setting overall holding limits could raise privacy issues
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
NY Fed and MAS test distributed ledger CBDC payments
System averaged 6.48 payments a second, with peak of 47 payments a second
HKMA launches retail CBDC pilots
Hong Kong central bank will work with 16 firms, including banks and payment companies
BoK and Samsung strengthen ties on offline CBDC research
Central bank and tech giant to look at ways to minimise security risks with offline CBDC payments
BIS offers guidance on offline CBDC design
Half of central banks say offline payments are “vital” to CBDC design
Bank of Canada consults public on CBDC design
But central bank says CBDC not needed “at this time”
Digital euro could be available via bank apps, ECB says
Approval of third round of design options does not entail progress beyond investigation
China to trial paying salaries using CBDC
State employees say finding merchants that accept the e-yuan is difficult
Bank of Israel details digital shekel factors
ECB and Fed CBDC decisions will affect decision to proceed with issuance
CBDCs will change international monetary system – IMF panel
Bank of Mauritius governor says CBDCs may protect sovereignty and combat illicit financing
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
Sweden does not yet need CBDC, inquiry finds
Report recommends strengthening access to cash and other offline payment methods
Towards legal CBDCs
Officials at the Bank of Thailand and Bank of Jamaica on how their CBDC design choices interact with the law
Islamic banking most at risk of negative CBDC effects
IMF paper highlights risk of unremunerated and small retail deposits
CBDC needs good preparation, warn central bankers
Panellists say financial literacy, research and infrastructure must come first
Swift completes cross-border CBDC settlement pilot
Banque de France, Bundesbank and the MAS among central bank participants
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
RBA official raises concerns over CBDC
Central bank proceeding with pilot despite potential drawbacks
Agent-based models shed light on CBDC dynamics
Take-up could be as high as 25% of total money, but depends on design choices, IMF research finds
Digital pound unlikely to be monetary policy tool – Cunliffe
Deputy governor says effect of paying interest unclear and could clash with other objectives
Carstens sets out vision for future monetary system
Programmable money on shared ledger would preserve two-tiered structure