The Great Financial Crisis (GFC), which began in 2007 and whose effects persisted for a decade, spurred a cavalcade of major worldwide regulatory, supervisory, and resolution reforms for the banking sector and the broader financial sector. In particular, the massive costs incurred by resolution and deposit insurance authorities (and ultimately, taxpayers) to clean up failed […]
Tag Archives: central banking
In 2020, one of the interesting topics being discussed in parallel to central bank digital currency (CBDC) is programmable money (PM). Like CBDC, programmable money does not appear to have a clear definition. In this post we will discuss our understanding of programmable money, its potential usefulness and possible obstacles to future use. What is […]
This year’s SEACEN Centre Policy Summit in Kuala Lumpur in mid-June was on the very salient topic of “Central Bank Leadership in Combating Cyber Risk.”
Climate Change as a Prudential Risk for Central Banks and Regulatory Authorities
Once policy-makers accept climate change as a prudential risk, several options are open to them, from
climate-related stress testing to promoting low-carbon financing.
While Auer argued that second-layer solutions such a “Lightning Network” can improve the economics of payment security he noted some concerns.