00000nam 2200000za 4500 9.867619 CaOODSP 20221107162349 cr ||||||||||| 190125s2018 onc #o f|0| 0 eng d CaOODSP eng eng fre n-cn--- FB3-5/2018-58E-PDF Kahn, Charles M. Should the central bank issue e-money? [electronic resource] / by Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong. [Ottawa] : Bank of Canada, 2018. ii, 27 p. Bank of Canada staff working paper, 1701-9397 ; 2018-58 "December 2018." Includes bibliographic references. "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. Includes abstract in French. gccst Central banks gccst Monetary policy gccst Electronic commerce Rivadeneyra, Francisco. Wong, Tsz-Nga. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2018-58. (CaOODSP)9.806221 PDF 1.08 MB https://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2018-58-eng.pdf