Financial inclusion
Lower financial literacy linked to crypto asset ownership – Bank of Canada
New cash survey shows financial literacy is positively associated with crypto asset awareness, but negatively associated with ownership
IMF praises Georgia’s non-bank overhaul, but says issues remain
“Issues and challenges” could still threaten the sector’s viability, fund staff warn
Chinese state-run bank launches, then disables, digital yuan wallet
PBoC’s digital yuan wallet was briefly available via China Construction Bank’s mobile app
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
RBI launches national financial education strategy
Educational push complements rapid improvement in Indian financial inclusion, RBI says
MAS launches campaign to boost Singaporeans’ financial resilience
Central bank starts programme in bid to help people manage challenges posed by Covid-19
‘Big Tech’ firms could harm financial stability – DNB paper
Technology firms’ data access could lead to their dominance of some markets, researchers warn
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
‘E-money’ is boosting financial inclusion in Philippines – deputy governor
“E-money” system has driven rise in citizens with bank accounts, BSP says
Kenya’s central bank looks to regulate digital lenders
Legislation before government could help central bank control high lending rates on digital products
‘Careful’ regulation needed to prevent fintech financial exclusion – IMF
New technology must not be taken for granted during Covid-19 recovery, researchers say
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
BoE launches new education progamme for children
UK central bank broadens financial literacy campaign with second programme for schools
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
Fed could exploit helicopter money with digital currency system – former officials
Simon Potter and Julia Coronado propose recession insurance bonds, consumer QE and Fed-backed digital currency as crisis tools
Fed can boost power of fiscal spending in communities – Harker and Rajan
Targeted fiscal policies are needed to address concerns over inequality, they say
OCC chief resigns immediately after finalising controversial regulation
FDIC abandons support at final hour after facing strong criticism from Democratic senators
Most Fed emergency funds not yet spent, lawmakers find
Less than 8% of the $500bn set aside for Fed and Treasury lending has been spent, report finds
Lower-income households feel worst of Covid-19 economic shock – Fed survey
Nearly 40% of low-earning households faced at least one job loss in March, survey finds
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
The Central Bank Digital Currency Survey 2020 – debunking some myths
Most central banks believe there are retail uses for central bank digital currencies, but few plan to launch a CBDC in the coming five years, with most rejecting the use of blockchain
Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy Native American and African-American populations
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights