Should the central bank issue e-money? / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong.: FB3-5/2018-58E-PDF
"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. The tradeoffs depend on i) the technological setup of the e-money system (as a token or an account; centralized or decentralized); ii) the potential improvement in the implementation and transmission of monetary policy; iii) the risks to safety and privacy from cyber attacks; and iv) the uncertain impact on banks’ efficiency and financial stability. The most compelling argument for central banks to issue e-money is to address competition problems in the banking sector"--Abstract.
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | Should the central bank issue e-money? / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong. |
| Series title | Bank of Canada staff working paper, 1701-9397 ; 2018-58 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | "December 2018." Includes bibliographic references. Includes abstract in French. |
| Publishing information | [Ottawa] : Bank of Canada, 2018. |
| Author / Contributor | Kahn, Charles M. Rivadeneyra, Francisco. Wong, Tsz-Nga. |
| Description | ii, 27 p. |
| Catalogue number |
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| Subject terms | Central banks Monetary policy Electronic commerce |
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