00000nam 2200000zi 4500 9.903082 CaOODSP 20221123080223 m o d f cr cn||||||||| 210903t20212021onca ob f000 0 eng d CaOODSP eng rda CaOODSP FB3-6/2021-6E-PDF García, Alejandro (Executive) author. Stablecoin assessment framework / by Alejandro Garcia, Bena Lands and Dennis Yanchus. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2021. ©2021 1 online resource (ii, 22 pages) : illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Staff discussion paper = Document d'analyse du personnel, 1914-0568 ; 2021-6 Cover title. "April 8, 2021." Includes bibliographical references (page 17). "We outline a three-step framework to investigate stablecoin arrangements and quantitatively assess their risk. The first step is to classify the stablecoin arrangement into three parts - coin structure, transfer system(s) and financial service(s) - and categorize the attributes of each part. The second step is to identify specific risk scenarios. The third is to quantify the range of probable loss and range of possible frequency associated with the identified risk scenarios. Our proposed framework allows authorities to understand the defining characteristics of stablecoin arrangements, to be specific about any concerns they may have, and to be objective in their treatment from issuer to issuer. Additionally, the process we are proposing ensures that authorities and the stablecoin issuer can come to a quantitatively based understanding about the potential risks. The main contributions we make are to separate stablecoins arrangements into three activity-based components and to apply an operational risk management approach to quantifying risks of stablecoins"--Abstract, page ii. Digital currency. Monetary policy. Risk assessment. Monnaie électronique. Politique monétaire. Évaluation du risque. Bank of Canada, issuing body. Staff discussion paper (Bank of Canada) 1914-0568 ; 2021-6. (CaOODSP)9.806273 PDF 502 KB https://publications.gc.ca/collections/collection_2021/banque-bank-canada/FB3-6-2021-6-eng.pdf