Central bank digital currency
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
CBDC projects aim to complement cash – BIS survey
Many central banks are creating “hybrid” CBDCs, according to survey of 32 projects
Central Bank of Brazil forms CBDC working group
Report by commercial bank warns that Brazil faces strong structural obstacles to CBDC
Fed paper looks at different CBDC types
“Account-based”, “cash equivalent” and “hybrid” CBDCs all have varying advantages – researchers
Boston Fed and MIT collaborate on digital currency research
Research results on software architecture will be released as open source
Chinese state-run banks start testing PBoC’s ‘e-wallet’
Four biggest state banks trialling payments system for PBoC’s “digital yuan”
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
Timothy Lane on CBDCs and why the private sector is no competition for central banks
The Bank of Canada deputy governor discusses the difference between a private-sector-motivated digital currency and a CBDC, and why finding a balance between privacy and regulation is such a challenge
CBDCs cannot have unlimited privacy – Canadian deputy governor
Timothy Lane says central banks should consider “hybrid privacy levels”
Banque de France names CBDC partners
HSBC and Euroclear among firms chosen to take part in CBDC experiments that include improving cross-border payment infrastructure
Jamaican central bank seeks CBDC partner
Central bank opens sandbox to CBDC development in hopes of increased financial inclusion
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
The evolving role of central bank money in payments
The line between commercial and central bank money continues to blur, but the multiple-issuer/one-currency paradigm underpinning the current monetary system is set to remain in a CBDC world, write Ulrich Bindseil and Ignacio Terol
PBoC partners with tech giant to test digital yuan
Chinese ride-hailing firm partners with PBoC digital currency research arm to test digital yuan
Bank of Japan to begin testing CBDC
BoJ publishes report on feasibility of digital yen, a surprise move after governor’s ‘lack of demand’ comment
CBDC can boost de-dollarisation and inclusion – Cambodia
Cambodia’s central bank says its quasi-CBDC network can promote use of local currency and improve financial inclusion
Covid-19 has highlighted payments systems problems – BIS report
Pandemic may have strengthened case for central bank digital currency, report says
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification
People: Nikhil Rathi appointed UK FCA chief
Stock exchange boss to take helm at regulator; new member of BoE committee named; Poloz to chair think-tank; Bank of Canada seeks CBDC project lead
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system
CBDC could endanger maturity transformation – Philadelphia Fed paper
Opening central bank balance sheet to consumers could create “deposit monopolist”, research says
Campos Neto on reforming Brazil’s economy amid Covid-19 distress
The Central Bank of Brazil governor speaks about how Brazil is managing fallout from the coronavirus pandemic, the benefit of large reserves, his plans to deploy emergency asset purchases and why he favours extending the IMF’s SDR funding
Banque de France CBDC project uses blockchain to settle transactions
Central bank and French lender use blockchain platform to pay for €40m securities tokens