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Bank of Canada RSS Feedsen2024-03-29T13:41:50+00:00A Uniform Currency in a Cashless Economy
https://www.bankofcanada.ca/2020/03/staff-analytical-note-2020-7/
A number of questions can arise when considering the implications of a cashless society. This note considers whether cash is necessary for a uniform currency.2020-03-10T13:10:37+00:00enA Uniform Currency in a Cashless Economy2020-03-10Cashless Bank Branches in Canada
https://www.bankofcanada.ca/2019/10/staff-analytical-note-2019-29/
Cashless or tellerless bank branches have proliferated in several countries in recent years. In a cashless bank branch, teller or counter services such as cash withdrawals, deposits and cheque-cashing are not available.2019-10-31T11:26:49+00:00enCashless Bank Branches in Canada2019-10-31A Tale of Two Countries: Cash Demand in Canada and Sweden
https://www.bankofcanada.ca/2019/08/staff-discussion-paper-2019-7/
Cash use for payments has been steadily decreasing in many countries, including Canada and Sweden. This might suggest an evolution toward a cashless society. But in Canada, cash in circulation relative to GDP has been stable for decades and has even increased in recent years. By contrast, the cash-to-GDP ratio in Sweden has been falling steadily. What has caused this difference? Are there lessons to be learned from comparing the Canadian and Swedish experiences?2019-08-08T12:30:04+00:00enA Tale of Two Countries: Cash Demand in Canada and Sweden2019-08-08Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2019-7https://www.bankofcanada.ca/wp-content/uploads/2019/08/sdp2019-7.pdfA Tale of Two Countries: Cash Demand in Canada and SwedenWalter EngertBen FungBjörn SegendorfAugust 2019EE4E41E42E5Explaining Unusual Cash Patterns in 2018
https://www.bankofcanada.ca/2019/07/staff-analytical-note-2019-22/
There was an unusually large decline of bank notes in circulation in October 2018. Some have argued that this was due to the legalization of cannabis in Canada in mid-October.2019-07-29T11:35:47+00:00enExplaining Unusual Cash Patterns in 20182019-07-29Is a Cashless Society Problematic?
https://www.bankofcanada.ca/2018/10/staff-discussion-paper-2018-12/
The use of bank notes in Canada for payments has declined consistently for some time, and similar trends are evident in other countries. This has led some observers to predict a cashless society in the future.2018-10-15T15:33:30+00:00enIs a Cashless Society Problematic?2018-10-15Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2018-12https://www.bankofcanada.ca/wp-content/uploads/2018/10/sdp2018-12.pdfIs a Cashless Society Problematic?Walter EngertBen FungScott HendryOctober 2018EE4E41E42E5Swedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies
https://www.bankofcanada.ca/2018/06/staff-working-paper-2018-27/
This paper examines the experience of Sweden with government notes and private bank notes to determine how well the Swedish experience corresponds to that of Canada and the United States. Sweden is important to study because it has had government notes in circulation for more than 350 years, and it had government notes before private bank notes.2018-06-25T10:28:47+00:00enSwedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital Currencies2018-06-25Bank notesDigital currencies and fintechFinancial servicesStaff Working Paper 2018-27https://www.bankofcanada.ca/wp-content/uploads/2018/06/swp2018-27.pdfSwedish Riksbank Notes and Enskilda Bank Notes: Lessons for Digital CurrenciesBen FungScott HendryWarren E. WeberJune 2018EE4E41E42E5E58Merchant Acceptance of Cash and Credit Cards at the Point of Sale
https://www.bankofcanada.ca/2018/01/staff-analytical-note-2018-1/
Recent data show that the use of credit cards in Canada has been increasing, while the use of cash has been declining. At the same time, only two-thirds of small or medium-sized businesses accept credit cards.2018-01-05T08:32:57+00:00enMerchant Acceptance of Cash and Credit Cards at the Point of Sale2018-01-05Central Bank Digital Currency: Motivations and Implications
https://www.bankofcanada.ca/2017/11/staff-discussion-paper-2017-16/
The emergence of digital currencies such as Bitcoin and the underlying blockchain and distribution ledger technology have attracted significant attention. These developments have raised the possibility of considerable impacts on the financial system and perhaps the wider economy.2017-11-30T08:11:42+00:00enCentral Bank Digital Currency: Motivations and Implications2017-11-30Bank notesDigital currencies and fintechFinancial servicesPayment clearing and settlement systemsStaff Discussion Paper 2017-16https://www.bankofcanada.ca/wp-content/uploads/2017/11/sdp2017-16.pdfCentral Bank Digital Currency: Motivations and ImplicationsWalter EngertBen FungNovember 2017EE4E41E42E5Acceptance and Use of Payments at the Point of Sale in Canada
https://www.bankofcanada.ca/wp-content/uploads/2017/11/boc-review-autumn2017-fung.pdf
Merchants universally accept cash. Consumers widely hold cash but also carry debit and credit cards. The cost of using a method of payment has only a small influence on which method consumers use. Large merchants accept all payments, while only two-thirds of small and medium-sized businesses accept credit cards. Merchants report that credit cards are the costliest payment method compared with cash and debit cards. However, costs are not the only consideration. Merchant acceptance of credit accounts for the many con-sumers that want to use credit cards. This interaction between consumers and merchants is known as network externalities.2017-11-16T12:22:59+00:00enAcceptance and Use of Payments at the Point of Sale in Canada2017-11-16Canadian Bank Notes and Dominion Notes: Lessons for Digital Currencies
https://www.bankofcanada.ca/2017/02/staff-working-paper-2017-5/
This paper studies the period in Canada when both private bank notes and government-issued notes (Dominion notes) were simultaneously in circulation. Because both of these notes shared many of the characteristics of today's digital currencies, the experience with these notes can be used to draw lessons about how digital currencies might perform.2017-02-15T13:44:34+00:00enCanadian Bank Notes and Dominion Notes: Lessons for Digital Currencies2017-02-15Bank notesDigital currencies and fintechFinancial servicesStaff Working Paper 2017-5https://www.bankofcanada.ca/wp-content/uploads/2017/02/swp2017-5.pdfCanadian Bank Notes and Dominion Notes: Lessons for Digital CurrenciesBen FungScott HendryWarren E. WeberFebruary 2017EE4E41E42E5E58