Mostly Economics

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Hong Kong to study General Purpose CBDC Posted: 24 Mar 2021 11:53 PM PDT Howard Lee Deputy Chief Executive of the HKMA in this speech at BIS innovation summit: As with many other central banks working on this subject, we are yet to make a decision as to whether general purpose CBDCs will be issued. Indeed, designing a CBDC requires balancing manifold considerations, ranging from consumer needs to policy […]

Multi-CBDC arrangements and the future of cross-border payments Posted: 24 Mar 2021 06:22 AM PDT Raphael Auer, Philipp Haene and Henry Holden in this BIS paper: Cross-border payments are inefficient, and technology could play a role in making them better. One means could be through interoperating central bank digital currencies (CBDCs), forming multi-CBDC (mCBDC) arrangements. This paper explores dimensions of payment system interoperability, how they could feature in mCBDC arrangements and where potential benefits […]

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