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Venue

webex

Format

online

Date

Thursday, July 6, 2023
Thursday, July 6, 2023

In cooperation with

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:

Program

Time
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
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