Cyber Resilience Of The Central Bank Digital Currency Ecosystem
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Cyber Resilience Of The Central Bank Digital Currency Ecosystem
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Author : Arvinder Bharath
language : en
Publisher: International Monetary Fund
Release Date : 2024-08-27
Cyber Resilience Of The Central Bank Digital Currency Ecosystem written by Arvinder Bharath and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-08-27 with Business & Economics categories.
Over 100 central banks around the globe are exploring central bank digital currencies (CBDCs) to modernize payment systems. They aim to explore potential benefits, risks, and the broad range of new capabilities CBDCs might offer. Some view CBDC exploration as an opportunity to rethink their existing, legacy payment systems and build a resilient and secure infrastructure using modern technologies. However, a CBDC creates a vast and complex ecosystem that amplifies existing risk exposures and surfaces new ones. Given the implications of issuing a CBDC, it should be seen as a fundamental change in the way the central bank operates. This note considers experiences from live CBDCs and is informed by experiments conducted by central banks and international institutions for domestic use. It also draws from cybersecurity and resilience frameworks from standard-setting bodies.
Central Bank Digital Currency Progress And Further Considerations
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2024-11-08
Central Bank Digital Currency Progress And Further Considerations written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-11-08 with categories.
The paper briefs the Executive Board on the further considerations on CBDC. These cover the positioning of CBDC in the payments landscape, cyber resilience of the CBDC ecosystem, CBDC adoption, CBDC data use and privacy protection, implications for monetary policy operations, and cross-border payments with retail CBDC.
Digital Payment Innovations In Sub Saharan Africa
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Author : Mr. Luca A Ricci
language : en
Publisher: International Monetary Fund
Release Date : 2025-06-27
Digital Payment Innovations In Sub Saharan Africa written by Mr. Luca A Ricci and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-06-27 with Business & Economics categories.
This paper takes stock of developments and policy issues related to digital payments innovations across sub-Saharan African (SSA), including central bank digital currency (CBDC), fast payments systems (FPS), mobile money, and crypto assets, which are now at the forefront of policymakers’ attention in the region. Drawing on insights from a recent IMF survey of SSA central banks (Ricci and others, 2024), the analysis is grounded in the unique characteristics of SSA compared with other regions. The paper offers tailored recommendations related to policy, regulation, and design, aimed at strengthening the digital payment landscape in the region. It notes the important role of strengthening digital infrastructure and leveling the playing field for private sector involvement through an enabling, competitive, interoperable and secure operating environment. The development of mobile money and FPS should be encouraged. CBDCs can complement these and could be pursued when there are well-identified market failures or other strategic reasons that require public intervention in the digital payment space. While crypto assets (especially adequately backed stablecoins) can support financial innovations, they are also associated with risks that should be contained through comprehensive regulations. Crypto assets should not be adopted as legal tenders. Stronger collaboration across borders can foster efficiency gains and international interoperability of payment systems.
Resilience Dynamism Trust 50 Landmark Statements By Mas Leaders
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Author : Monetary Authority Of Singapore
language : en
Publisher: World Scientific
Release Date : 2021-10-04
Resilience Dynamism Trust 50 Landmark Statements By Mas Leaders written by Monetary Authority Of Singapore and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-04 with Business & Economics categories.
The Monetary Authority of Singapore (MAS) is Singapore's central bank and integrated financial regulator. As a central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore's exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore — banks, insurers, capital market intermediaries, financial advisors and financial market infrastructures. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructures, adoption of technology, and upgrading of skills in the financial industry.This 50th anniversary compilation provides convenient access to the thinking behind MAS' policies and strategies as they have evolved, through 50 landmark statements by its leaders.
Global Financial Stability Report October 2021
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-10-12
Global Financial Stability Report October 2021 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-12 with Business & Economics categories.
Financial stability risks have been contained so far, reflecting ongoing policy support and a rebound in the global economy earlier this year. Chapter 1 explains that financial conditions have eased further in net in advanced economies but changed little in emerging markets. However, the optimism that propelled markets earlier in the year has faded on growing concerns about the strength of the global recovery, and ongoing supply chain disruptions intensified inflation concerns. Signs of stretched asset valuations in some market segments persist, and pockets of vulnerabilities remain in the nonbank financial sector; recovery is uneven in the corporate sector. Chapter 2 discusses the opportunities and challenges of the crypto ecosystem. Crypto asset providers’ lack of operational or cyber resilience poses risks, and significant data gaps imperil financial integrity. Crypto assets in emerging markets may accelerate dollarization risks. Chapter 3 shows that sustainable funds can support the global transition to a green economy but must be scaled up to have a major impact. It also discusses how a disorderly transition could disrupt the broader investment fund sector in the future.
A Survey Of Research On Retail Central Bank Digital Currency
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Author : Mr.John Kiff
language : en
Publisher: International Monetary Fund
Release Date : 2020-06-26
A Survey Of Research On Retail Central Bank Digital Currency written by Mr.John Kiff and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-26 with Business & Economics categories.
This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.
It Governance
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Author : Peter Weill
language : en
Publisher: Harvard Business Press
Release Date : 2004-05-06
It Governance written by Peter Weill and has been published by Harvard Business Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-05-06 with Business & Economics categories.
Firms with superior IT governance have more than 25% higher profits than firms with poor governance given the same strategic objectives. These top performers have custom designed IT governance for their strategies. Just as corporate governance aims to ensure quality decisions about all corporate assets, IT governance links IT decisions with company objectives and monitors performance and accountability. Based on a study of 250 enterprises worldwide, IT Governance shows how to design and implement a system of decision rights that will transform IT from an expense to a profitable investment.
People S Republic Of China Hong Kong Special Administrative Region
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2025-01-23
People S Republic Of China Hong Kong Special Administrative Region written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-01-23 with Business & Economics categories.
Hong Kong SAR's economy is on a path of gradual but uneven recoveryfollowing a protracted period of shocks. While the unemployment rate has declined tohistorical lows, employment loss has been sizable and domestic demand has remainedweak amid tight financial conditions and property market downturn, both locally and inMainland China. The territory's integration with Mainland China, including in the contextof the Greater Bay Area (GBA) initiative, has significantly increased in recent years, butrising regional competition has put pressure on some of its traditional growth engines,prompting the authorities to pursue new sources of growth, including from innovative,technology-driven sectors.
Money Evolved
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Author : Barrett Williams
language : en
Publisher: Barrett Williams
Release Date : 2024-12-21
Money Evolved written by Barrett Williams and has been published by Barrett Williams this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-12-21 with Business & Economics categories.
**Unlock the Future of Finance with "Money Evolved"** Dive into the transformative world of Central Bank Digital Currencies (CBDCs) with "Money Evolved"—a cutting-edge guide that will expand your understanding of how global money systems are set to change dramatically over the coming years. **Discover the Evolution of Currency** Journey through the fascinating evolution of money, from ancient coins to the digital tokens of today. Explore what CBDCs are and how they are reshaping the landscape, carving a new path through the financial history that connects the past with the future. **Understand the Technology Powering CBDCs** Unravel the intricate web of blockchain and distributed ledger technology. Delve into the crucial issues of privacy and security, understanding how these digital innovations promise both disruption and a seamless integration into existing financial systems. **Grasp the Policy Implications** Examine the profound implications for monetary policy, regulations, and financial stability. Discover the balance of challenges and opportunities that CBDCs introduce to economies around the world, highlighting nuanced policies and strategies. **Impact on Global Finance** Step into the global arena where cross-border transactions and cryptocurrencies meet CBDCs. Analyze real-world case studies like Sweden's e-Krona, China's Digital Yuan, and The Bahamas' Sand Dollar, offering invaluable insights into early implementations. **Champion Financial Inclusion** Investigate how CBDCs aim to bridge the financial inclusion gap, challenging traditional barriers in developing economies with revolutionary possibilities. **Explore the Economics and Ethics** From banking impacts to inflation control and social implications, "Money Evolved" provides a comprehensive view of the economics and ethics surrounding digital currencies. **Prepare for Digital Innovation** Look beyond CBDCs into a future ripe with innovation, while navigating the potential risks and crisis management strategies essential for an evolving economic landscape. "Money Evolved" is your essential guide to understanding and mastering the digital financial revolution. Be at the forefront of modern finance—it's time to embrace the future of money.
Positioning Central Bank Digital Currency In The Payments Landscape
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Author : Manisha Patel
language : en
Publisher: International Monetary Fund
Release Date : 2024-10-02
Positioning Central Bank Digital Currency In The Payments Landscape written by Manisha Patel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-10-02 with categories.
The IMF is frequently approached by central banks seeking guidance on the balance between central bank digital currency (CBDC), fast payment systems (FPS), and electronic money (e-money) solutions. Common questions arising include: Do central banks need a CBDC when already equipped with other well-established digital payments systems? For central banks with less-developed solutions: Should central banks establish one system over the other? This discussion is then compounded by the reality of constrained resources. This note focuses on the comparison of retail CBDC—that is, the presence of digital central bank money available to the general public—with FPS and e-money systems from a payments perspective, and how CBDC may support a jurisdiction’s vision on payments in the digital age. The note does not seek to advocate for CBDC over an FPS or e-money. The balance of arguments for any one system may change over time, and the choice may not be mutually exclusive in many jurisdictions. In the future, it is possible to envisage the coexistence of an FPS, e-money, and CBDC in many payment landscapes across the world. Through good design, all three systems could meet central bank objectives such as payments efficiency and supporting financial inclusion; some benefits are unique to CBDC, such as maintaining access to central bank money in an increasingly digitalized age. While central banks will make choices unique to their circumstances, it remains important for central banks to establish a strategy that allows them (at minimum) to monitor trends and core benefits of multiple solutions as developments occur, to allow them to plan, adapt, and drive developments in their payments landscape.