Similar Search Results

Central Bank digital currencies : a framework for assessing why and how

Fung, Ben Siu-cheong; Hałaburda, Hanna - 2016

Digital currencies have attracted strong interest in recent years and have the potential to become widely adopted for use in making payments. Public authorities and central banks around the world are closely monitoring developments in digital currencies and studying their implications for the...

Persistent link: https://www.econbiz.de/10011565226

Revisiting the monetary sovereignty rationale for CBDCs

Brooks, Skylar - 2021

As currently articulated, the monetary sovereignty argument for central bank digital currencies (CBDCs) rests on the idea that without them, private and foreign digital monies could displace domestic currencies (a process called currency substitution), threatening the central bank's monetary...

Persistent link: https://www.econbiz.de/10012797485

Stablecoin assessment framework

García, Alejandro; Lands, Bena; Yanchus, Dennis - 2021

We outline a three-step framework to investigate stablecoin arrangements and quantitatively assess their risk. The first step is to classify the stablecoin arrangement into three parts-coin structure, transfer system(s) and financial service(s) - and categorize the attributes of each part. The...

Persistent link: https://www.econbiz.de/10012511072

An exploration of First Nations reserves and access to cash

Chen, Heng; Engert, Walter; Huynh, Kim P.; O'Habib, Daneal - 2021

Providing bank notes is one of the Bank of Canada’s core functions. The Bank is therefore interested in whether cash is adequately distributed across society, and this also influences the Bank’s thinking on issuing a central bank digital currency. We provide a perspective on these issues by...

Persistent link: https://www.econbiz.de/10012520249

Identifying financially remote First Nations reserves

Chen, Heng; Engert, Walter; Huynh, Kim P.; O'Habib, Daneal - 2022

Chen et al. (2021) show that almost one-third of First Nations band offices in Canada are within 1 kilometre (km) of an automated banking machine (ABM) or financial institution (FI) branch and more than half are within 5 km. Further, over three-quarters of band offices are within 20 km of an ABM...

Persistent link: https://www.econbiz.de/10013193291

Cash and COVID-19 : what happened in 2021

Chen, Heng; Engert, Walter; Huynh, Kim P.; O'Habib, Daneal - 2022

We provide an update on the impact the COVID-19 pandemic on the demand for cash and the use of methods of payment based on data from the Bank Note Distribution System and from consumer surveys conducted in April and August 2021. Our key findings are as follows: Cash in circulation remained high...

Persistent link: https://www.econbiz.de/10013175440

Bitcoin awareness, ownership and use : 2016-20

Balutel, Daniela; Felt, Marie-Hélène; Nicholls, Gradon; … - 2022

other cryptocurrencies (Henry et al. 2018, 2019a, 2019b). This report incorporates results from the 2019 Bitcoin Omnibus …Since 2016, the Bank of Canada has conducted annual surveys to monitor awareness, adoption and usage of Bitcoin and … Survey and the November 2020 Cash Alternative Survey. We find that between 2018 and 2020, the level of Bitcoin awareness and …

Persistent link: https://www.econbiz.de/10013175443

Cash and COVID-19: the impact of the pandemic on the demand for and use of cash

Chen, Heng; Engert, Walter; Huynh, Kim P.; Nicholls, Gradon - 2020

Consumer spending declined significantly during the recent COVID-19 pandemic. This negative shock likely reduced spending across all methods of payment (cash, debit, credit, etc.). As well, the mix of payment methods that consumers use could also be affected. This paper is a first step in...

Persistent link: https://www.econbiz.de/10012240328

2019 Cash Alternative Survey results

Huynh, Kim P.; Nicholls, Gradon; Nicholson, Mitchell W. - 2020

) in August and September 2019. The 2019 CAS asked respondents to report their cash holdings, adoption of cryptocurrencies …

Persistent link: https://www.econbiz.de/10012267956

Fintech: is this time different? : a framework for assessing risks and opportunities for central banks

Aaron, Meyer; Rivadeneyra, Francisco; Sohal, Samantha - 2017

We investigate the risks and opportunities to the mandates of central banks arising from fintech developments. Fintech may affect the different areas of responsibility of central banks - mainly monetary policy and financial stability - by changing money demand and by changing the industrial...

Persistent link: https://www.econbiz.de/10011689315