May 2, 2019
Digital currencies and fintech
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April 12, 2019
Panel: International Monetary Fund
CBDC: Should Central Banks issue Digital Currencies? — Deputy Governor Timothy Lane participates in a panel discussion at International Monetary Fund. -
April 11, 2019
Panel: World Bank
Capital Market Development and the FinTech Revolution: Opportunities and Challenges — Senior Deputy Governor Carolyn A. Wilkins participates in a panel discussion at the World Bank. -
Crypto ‘Money’: Perspective of a Couple of Canadian Central Bankers
The market for cryptoassets has exploded in size in the 10 years since bitcoin was launched. The technology underlying cryptoassets, blockchain, has also been held up as a technology that promises to transform entire industries. -
A Framework for Analyzing Monetary Policy in an Economy with E-money
This paper considers an economy where central-bank-issued fiat money competes with privately issued e-money. We study a policy-setting game between the central bank and the e-money issuer and find (1) the optimal monetary policy of the central bank depends on the policy of the private issuer and may deviate from the Friedman rule; (2) multiple equilibria may exist; (3) when the economy approaches a cashless state, the central bank’s optimal policy improves the market power of the e-money issuer and can lead to a discrete decrease in welfare and a discrete increase in inflation; and (4) first best cannot be achieved. -
2017 Methods-of-Payment Survey Report
Cash use is declining while contactless and mobile payments are on the rise. -
Should the Central Bank Issue E-money?
Should a central bank take over the provision of e-money, a circulable electronic liability? We discuss how e-money technology changes the tradeoff between public and private provision, and the tradeoff between e-money and a central bank's existing liabilities like bank notes and reserves. -
November 15, 2018
The Bank of Canada, Bank of England and Monetary Authority of Singapore share assessment on emerging opportunities for digital transformation in cross-border payments
This joint press release describes a preliminary report on the findings of the fourth phase of the Project Jasper research initiative. -
October 25, 2018
Money for Nothing? A Central Banker’s Take on Cryptoassets
Senior Deputy Governor Carolyn A. Wilkins discusses cryptoassets and the key questions they pose for central banks.