00000nam 2200000zi 4500 9.887327 CaOODSP 20221107171656 m o d f cr |n||||||||| 200513t20202020onca ob f000 0 eng d CaOODSP eng rda CaOODSP eng fre FB3-6/2020-2E-PDF Armelius, Hanna‏, author. Is central bank currency fundamental to the monetary system? / by Hanna Armelius, Carl Andreas Claussen and Scott Hendry. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 1 online resource (iii, 17 pages) : illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Bank of Canada staff discussion paper, 1914-0568 ; 2020-2 Cover title. "Last updated: May 5, 2020." Includes bibliographical references (pages 16-17). "In this paper, we discuss whether the ability of individuals to convert commercial bank money (i.e., bank deposits) into central bank money is fundamentally important for the monetary system. This is a significant question since the use of cash—the only form of central bank money that the public currently has access to—is declining rapidly in many countries. The question is highly relevant to the discussion around whether central banks need to issue a retail central bank digital currency (CBDC). We conclude that depositors’ need for control could be a reason why cash or a CBDC is essential, even in countries with strong measures safeguarding commercial bank money"--Abstract, page iii. Includes abstract in French. Bank notes. Digital currency. Banks and banking, Central. Billets de banque. Monnaie électronique. Banques centrales. Bank of Canada, issuing body. Staff discussion paper (Bank of Canada) 1914-0568 ; 2020-2. (CaOODSP)9.806273 PDF 351 KB https://publications.gc.ca/collections/collection_2020/banque-bank-canada/FB3-6-2020-2-eng.pdf