Wholesale central bank digital currency: Difference between revisions
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imported>Doug Williamson (Add link.) |
(Add treasury technical quote - source - ACT - https://www.treasurers.org/hub/blog/cbdcs_digital_currencies/july_2024) |
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A wholesale central bank digital currency is one designed for wholesale transactions only, between financial institutions that each hold reserves in a central bank. | A wholesale central bank digital currency is one designed for wholesale transactions only, between financial institutions that each hold reserves in a central bank. | ||
:<span style="color:#4B0082">'''''Pilot project eliminates barriers in siloed financial market'''''</span> | |||
:"Economically and legally, the wholesale CBDC used in Helvetia III is equivalent to sight deposits on the Swiss National Bank balance sheet... | |||
:A key difference to sight deposits is that the pilot makes tokenised central bank money available on the same third-party platform where the tokenised assets are held. | |||
:This eliminates barriers in today’s siloed financial market infrastructures where financial assets and central bank money are usually held on separate systems that are linked in order to synchronise payments and asset transfers. | |||
:With wholesale CBDC as piloted in Helvetia III, assets and central bank money are instead closely integrated. | |||
:This reduces the need for synchronisation and reconciliation and facilitates programmability." | |||
:''Naresh Aggarwal, associate director, policy & technical, ACT - July 2024.'' | |||
== See also == | == See also == | ||
* [[Account]] | * [[Account]] | ||
* [[Balance sheet]] | |||
* [[Cash management]] | |||
* [[Central bank]] | * [[Central bank]] | ||
* [[Central bank digital currency]] (CBDC) | * [[Central bank digital currency]] (CBDC) | ||
* [[Central bank money]] | |||
* [[Cryptocurrency]] | * [[Cryptocurrency]] | ||
* [[Currency]] | * [[Currency]] | ||
| Line 16: | Line 35: | ||
* [[Fiat currency]] | * [[Fiat currency]] | ||
* [[Gold standard]] | * [[Gold standard]] | ||
* [[Helvetia III]] | |||
* [[Infrastructure]] | |||
* [[Libra]] | * [[Libra]] | ||
* [[Money]] | * [[Money]] | ||
* [[Multi-CBDC arrangement]] | * [[Multi-CBDC arrangement]] | ||
* [[Programmability]] | |||
* [[Reconciliation]] | |||
* [[Reserve]] | * [[Reserve]] | ||
* [[Retail central bank digital currency]] | * [[Retail central bank digital currency]] | ||
* [[Sand Dollar]] | * [[Sand Dollar]] | ||
* [[Sight deposits]] | |||
* [[Stablecoin]] | * [[Stablecoin]] | ||
* [[Swiss National Bank]] (SNB) | |||
* [[Wholesale markets]] | * [[Wholesale markets]] | ||
== | ==Other resources== | ||
[https://www. | *[https://www.treasurers.org/hub/blog/cbdcs_digital_currencies/july_2024 Central Bank Digital Currencies (CBDCs) and other digital currencies - Naresh Aggarwal, associate director, policy & technical, ACT - July 2024] | ||
*[https://www.bis.org/publ/bppdf/bispap147.pdf Embracing diversity, advancing together – results of the 2023 BIS survey on central bank digital currencies and crypto - Bank for International Settlements (BIS) Paper 147 - June 2024] | |||
[https://www. | *[https://www.bankofengland.co.uk/research/digital-currencies Central bank digital currencies - Bank of England] | ||
[https://www.youtube.com/watch?app=desktop&v=srJMnI8WFRY ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]] | *[https://www.bis.org/about/bisih/topics/cbdc.htm Bank of International Settlements, Central Bank Digital Currency] | ||
*[https://www.youtube.com/watch?app=desktop&v=srJMnI8WFRY ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Financial_products_and_markets]] | |||
[[Category:Identify_and_assess_risks]] | |||
[[Category:Manage_risks]] | |||
[[Category:Risk_reporting]] | |||
[[Category:Risk_frameworks]] | |||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Identify_and_assess_risks]] | [[Category:Identify_and_assess_risks]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category:Risk_reporting]] | |||
[[Category:Risk_frameworks]] | [[Category:Risk_frameworks]] | ||
[[Category: | [[Category:The_business_context]] | ||
Latest revision as of 00:25, 25 July 2024
(wCBDC).
A wholesale central bank digital currency is one designed for wholesale transactions only, between financial institutions that each hold reserves in a central bank.
- Pilot project eliminates barriers in siloed financial market
- "Economically and legally, the wholesale CBDC used in Helvetia III is equivalent to sight deposits on the Swiss National Bank balance sheet...
- A key difference to sight deposits is that the pilot makes tokenised central bank money available on the same third-party platform where the tokenised assets are held.
- This eliminates barriers in today’s siloed financial market infrastructures where financial assets and central bank money are usually held on separate systems that are linked in order to synchronise payments and asset transfers.
- With wholesale CBDC as piloted in Helvetia III, assets and central bank money are instead closely integrated.
- This reduces the need for synchronisation and reconciliation and facilitates programmability."
- Naresh Aggarwal, associate director, policy & technical, ACT - July 2024.
See also
- Account
- Balance sheet
- Cash management
- Central bank
- Central bank digital currency (CBDC)
- Central bank money
- Cryptocurrency
- Currency
- Digital currency
- Distributed ledger
- e-krona
- e-money
- Fiat currency
- Gold standard
- Helvetia III
- Infrastructure
- Libra
- Money
- Multi-CBDC arrangement
- Programmability
- Reconciliation
- Reserve
- Retail central bank digital currency
- Sand Dollar
- Sight deposits
- Stablecoin
- Swiss National Bank (SNB)
- Wholesale markets
