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Measuring the impact of a failing participant in payment systems
Heijmans, Ronald; Wendt, Froukelien - 2020
Banks and financial market infrastructures (FMIs) that are not able to fulfill their payment obligations can be a source of financial instability. This paper develops a composite risk indicator to evaluate the criticality of participants in a large value payment system network, combining...
Persistent link: https://www.econbiz.de/10012251903
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Falling use of cash and demand for retail central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2022
Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older … the demand for cash and why it is falling. Cash use may continue to fall, and card use (the main cash substitute) may fall …
Persistent link: https://www.econbiz.de/10013170282
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Cash use across countries and the demand for central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2019
The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While …-not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference … for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be …
Persistent link: https://www.econbiz.de/10012009449
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Fintech potential for remittance transfers : a Central America perspective
Bersch, Julia; Clevy, Jean François; Muhammad, Naseem; … - 2021
This paper analyzes the potential for fintech to facilitate cheaper and more efficient remittances, and to enhance financial inclusion in Central America. Digital remittances remain nascent in the region, primarily reflecting behavioral inertia, small cost advantages of digital over traditional...
Persistent link: https://www.econbiz.de/10012610695
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Fintech and payments regulation : analytical framework
Tanai Khiaonarong; Goh, Terry - 2020
Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to augment entity-based regulation with increasing focus on...
Persistent link: https://www.econbiz.de/10012251408
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Monetary policy with negative interest rates : decoupling cash from electronic money
Assenmacher-Wesche, Katrin; Krogstrup, Signe - 2018
to address future deflationary shocks. The existence of cash prevents central banks from cutting interest rates much … below zero. In this paper, we consider the practical feasibility of recent proposals for decoupling cash from electronic … money to achieve a negative yield on cash which would remove the lower bound constraint on monetary policy. We discuss how …
Persistent link: https://www.econbiz.de/10011905923
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Two-sided market, R&D and payments system evolution
Li, Bin; McAndrews, James Joseph; Wang, Zhu - 2019
It takes many years for more efficient electronic payments to be widely used, and the fees that merchants (consumers) pay for using those services are increasing (decreasing) over time. We address these puzzles by studying payments system evolution with a dynamic model in a twosided market...
Persistent link: https://www.econbiz.de/10012009590
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Fintech in Europe : promises and threats
Baba, Chikako; Batog, Cristina; Flores, Enrique; … - 2020
Europe's high pre-existing level of financial development can partly account for the relatively smaller reach of fintech payment and lending activities compared to some other regions. But fintech activity is growing rapidly. Digital payment schemes are expanding within countries, although...
Persistent link: https://www.econbiz.de/10012392562
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India's approach to open banking : some implications for financial inclusion
Carrière-Swallow, Yan; Haksar, Vikram; Patnam, Manasa - 2021
services and was largely reliant on cash for financial transactions. The expansion of mobile-based financial services that …
Persistent link: https://www.econbiz.de/10012518740
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Is mobile money part of money? : understanding the trends and measurement
Shirono, Kazuko; Das, Bidisha; Fan, Yingjie; Chhabra, Esha - 2021
The rapid uptake of mobile money in recent years has generated new data needs and growing interest in understanding its impact on broad money. This paper reviews mobile money trends using mobile money data from the Financial Access Survey (FAS) and examines the statistical treatment of mobile...
Persistent link: https://www.econbiz.de/10012605686