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Central bank digital currencies could drive ‘fundamental shift’ in banking sector: Philadelphia Fed paper

by CBDC Insider Staff
June 7, 2020
in Business, US
Reading Time: 1min read
0
Central bank digital currencies could drive ‘fundamental shift’ in banking sector: Philadelphia Fed paper
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The Federal Reserve Bank of Philadelphia’s research department has published a new working paper focused on central bank digital currencies, exploring the transformative implications for the make-up of the banking sector.

As noted in the abstract of the paper – entitled “Central Bank Digital Currency: Central Banking for All?” – a central bank’s digital currency could make such an institution more attractive to depositors due to the perceived stability. The idea of a CBDC introducing a degree of competition in the banking system has been raised in the past, including in a December note by the IMF.

Continue read: https://finance.yahoo.com/news/central-bank-digital-currencies-could-162333216.html

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