Digital Central Bank Money and the Unbundling of the Banking Function
Innovations in digital payment technologies and digital currencies suggest that extending access to central bank money (CBM) to firms and individuals is now feasible. This paper focuses on a recent related debate regarding alternative organizational models for the payment system and their implications for the banking industry. One of the main conclusions is that extended access to CBM will likely create a centrifuge force in the financial system that might result in the unbundling of the banking functions.
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| Format: | Discussion Papers & Presentations biblioteca |
| Language: | English |
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Inter-American Development Bank
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| Subjects: | Commercial Bank, Financial System, Digital Currency, Central Bank Money, Banking Function, Digital Payment, E51 - Money Supply • Credit • Money Multipliers, E58 - Central Banks and Their Policies, central bank digital currencies;central bank money;payment systems;virtual currencies;unbundling banks;narrow banks;FinTech, |
| Online Access: | http://dx.doi.org/10.18235/0007008 https://publications.iadb.org/en/digital-central-bank-money-and-unbundling-banking-function |
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