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The value added of central bank digital currencies

SUERF BAFFI Bocconi webinar

The value added of central bank digital currencies

Thursday, 6 July 2023 I 14:30-16:00 CET I online via Webex

Central bank digital currencies (CBDCs) are reshaping the financial landscape globally. Already implemented in ten countries, including Nigeria and several in the Caribbean, CBDCs offer inclusive digital payment solutions, particularly beneficial for regions with limited access to traditional banking systems. However, in more advanced financial systems, CBDCs may appear less compelling, with existing alternative digital payment methods already prevalent for retail customers. By contrast, there may be a strong case for building a CBDC that banks could use for cross-border wholesale purposes (i.e. with other currencies). The euro area and the United States might wish to consider carefully how wholesale CBDCs might affect their global economic standing from a geopolitical perspective. By developing a CBDC for wholesale purposes, the European Union could contribute to developing the global standard.

Relevant documents:

Thursday, 6 July 2023
14:30 Welcome and Introduction

Ernest Gnan, Secretary General, SUERF

14:35 Key findings from a recent Breugel study "The value added of central bank digital currencies: a view from the euro area"

Maria Demertzis, Senior Fellow, Bruegel
Presentation (pdf)Presentation (pdf)

15:00 Discussion and Q&A with the audience

Morten Linnemann Bech, Centre Head - Switzerland, BIS Innovation Hub

Dirk Niepelt, Professor, University of Bern I SUERF Fellow

Ignacio Terol, Digital Euro Product Manager, ECB

16:00 End

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