Is central bank currency fundamental to the monetary system? / by Hanna Armelius, Carl Andreas Claussen and Scott Hendry.: FB3-6/2020-2E-PDF
"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.
Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.887327&sl=0
| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Is central bank currency fundamental to the monetary system? / by Hanna Armelius, Carl Andreas Claussen and Scott Hendry. |
| Series title | Bank of Canada staff discussion paper, 1914-0568 ; 2020-2 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Cover title. "Last updated: May 5, 2020." Includes bibliographical references (pages 16-17). Includes abstract in French. |
| Publishing information | Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2020. ©2020 |
| Author / Contributor | Armelius, Hanna, author. |
| Description | 1 online resource (iii, 17 pages) : illustrations. |
| Catalogue number |
|
| Subject terms | Bank notes. Digital currency. Banks and banking, Central. Billets de banque. Monnaie électronique. Banques centrales. |
Request alternate formats
To request an alternate format of a publication, complete the Government of Canada Publications email form. Use the form’s “question or comment” field to specify the requested publication.- Date modified: