Fintech
Central banks should collaborate on cross-border CBDCs – Nagel
Bundesbank president talks of “historic opportunity” to improve payments and avoid risk
M1 vs M0 in an instant payments world
Manmohan Singh explains how measurement of ‘narrow’ money is changing
Stablecoins are not ‘crypto safe haven’ – ECB paper
Shocks in crypto markets significantly reduce stablecoin market capitalisation, researchers find
Financial system needs to be ‘quantum-ready’ – BIS study
Working paper reviews benefits and risks of computing technology
BIS paper explores ‘ChatGPT for central banking’
Language models can analyse sentences but needs more work when it comes to complex content
Working group minutes: central banks weigh CBDC design choices
Central bankers discuss CBDC design elements, adoption rates and cross-border payments
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods
‘No clear public interest case’ for retail CBDC, says RBA
Australian central bank believes wholesale digital currency has greater potential
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences
Brazil announces new themes for phase two of CBDC pilot
BCB selects private companies to test implementation of “smart contract” for drex currency
Bank of Russia expands CBDC pilot
Central bank says second phase will involve far greater numbers of people and firms than initial stage
EBA study calls for stablecoin reserves transparency
Authors say suspensions of withdrawals can prevent bankruptcy
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance
Book notes: Easy money, cryptocurrency, casino capitalism, and the golden age of fraud, Ben McKenzie with Jacob Silverman
Casts light on how shady crypto characters defraud consumers but does little to identify and control such fraudsters while protecting the public
Kyrgyzstan opens public consultation on laws governing CBDC
Amendments to legislation affecting digital som are due to come into force in 2027
Australian indigenous nation advances with digital currency
Birri Gubba dollar to be pegged to AUD and backed by assets including carbon credits
CBDCs amplify contractionary effects of monetary shocks – BoC paper
However, research finds no substantial change to transmission mechanism
Bank of Italy makes its new DLT protocol open source
Research says novel cryptographic signature could validate payments and digital asset transfers
Malaysia is latest country to seek Brics membership
However, uncertainty remains over whether Saudi Arabia will join emerging economies bloc