Libra
Stablecoins could allow for ‘embedded supervision’ – BIS paper
But authors say CBDCs may be a more effective means of achieving the same goal
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Bailey urges early intervention on stablecoin risks
BoE governor says multi-currency stablecoins do not appear to be viable payment systems at present
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
Libra reinvents itself in bid to overcome ‘fatal’ flaw
Pivot to present more of a payment-network image could save libra from regulatory haranguing. But at what cost for innovation?
Singapore and China to deepen collaboration on green finance
MAS chief proposes working together in areas including loan syndication and verification
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
People: Carmen Reinhart to be World Bank chief economist
Carmen Reinhart to take over from Penny Goldberg at World Bank; BIS picks Hong Kong hub head; Libra Association appoints chief executive
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
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
Facebook may bow to regulatory pressure on libra
Basic goals have not changed, says tech giant, but reports suggest network will offer libra alongside other assets
Bank of Canada developing CBDC ‘contingency plan’
Central bank could issue CBDC if private sector alternatives become quickly dominant, deputy governor says
Podcast: Bank of Finland’s Aleksi Grym on a 1990s’ digital currency
Avant was launched to establish a new payments network but failed due to competition from ATMs
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Payment services: Swift
The organisation has responded strongly to threats from cyber crime and the decline of correspondent banking
Stablecoins present threat to monetary sovereignty – WEF panel
Panellists discuss the delicate balance needed between the private and public sector with regard to digital money
CBDC has been “over-hyped” – former RBI deputy
Focus on retail CBDCs is a potential distraction from core central banking functions, says Sinha
Carstens: Money without central banks is doomed to fail
Many “architectures” are possible but they must be built on a foundation of trust, BIS chief says; improving “two-tier” system may be best approach
The pursuit of ‘fintecgrity’
Digital currencies, distributed ledgers and deep learning are set to transform the financial economy. How can regulators maintain integrity at the confluence of finance and technology?
Facing up to the tech challenge
Central banks get a wake-up call from libra
Canada’s Poloz on monetary policy limits, transparency and cyber recovery
Bank of Canada governor Stephen Poloz speaks about stagflation risks from trade wars, the importance of market signals, Canada’s CBDC plans and why he is not a fan of minutes
ECB’s Löber: Facebook’s libra a “black hole” of legal certainty
But current global standards fit for purpose to underpin digital assets
Libra unlikely to play a major role in Sweden – Riksbank research
Existing payment systems are highly integrated into companies’ cash systems, and Libra would add exchange rate risks
Facebook not trying to replace central banks, claims Zuckerberg
Facebook chief plays down economic impact and says libra can help fight financial crime