Central bank digital currency definition

Central bank digital currency means a digital
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Central bank digital currency means any digital Fiat Currency issued by a Central
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Central bank digital currency means any digital Fiat Currency issued by a Central Bank or other monetary authority.
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Examples of Central bank digital currency in a sentence

  • Central bank digital currency tokens are analogous to paper currency, as direct claims on the central bank, but are transferred electronically.

  • Central bank digital currency remuneration in a world with low or negative nominal interest rates.

  • Central bank digital currency and the future of monetary policy.Technical report, National Bureau of Economic Research.Brainard, L.

  • P Beniak, Central bank digital currency and monetary policy: a literature review, (University Library of Munich, Germany), MPRA Paper 96663 (2019).

  • MM Ferrari, A Mehl, L Stracca, Central bank digital currency in an open economy, (European Central Bank), Working Paper Series 2488 (2020).

  • Jesus Fernandez-Villaverde, Daniel Sanches, Linda Schilling, Harald Uhlig, Central bank digital currency: Central banking for all?, Review of Economic Dynamics, Volume 41, 2021, Pages 225- 242, ISSN 1094-20253.

  • M Bordo, A Levin, Central bank digital currency and the future of monetary policy, (NBER), Working Paper No. 23711 (2017).

  • Keywords: Central bank, monetary policy, quantitative easing, COVID-19 pandemic, cash, Central bank digital currency.

  • Central bank digital currency (CBDC) is central bank money (IOUs against the central bank) provided by electronic means.

  • TOPIC 2: DIGITAL CURRENCIES(a) Central bank digital currency (CBDC)Davoodalhosseini, Seyed Mohammadreza.


More Definitions of Central bank digital currency

Central bank digital currency means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the United States Federal Reserve System, a federal agency, a foreign government, a foreign central bank, or a foreign reserve system, that is:
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Central bank digital currency means a digital currency, a digital medium of exchange, or a digital monetary unit of account issued by the Board of Governors of the Federal Reserve System, a federal agency, that is processed, validated, or made directly available to a consumer by such entities.
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Central bank digital currency means a digital form of
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Central bank digital currency means a digital currency, digital medium of exchange, or digital monetary unit of account issued by the federal reserve or another federal agency, a foreign government, a foreign central bank, or a foreign reserve system that is made directly available to a consumer by the entity and that is processed or validated directly by the entity;
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Central bank digital currency or “CBDC” means a digital form of a sovereign jurisdiction’s (e.g., nation’s) fiat currency issued and regulated by the central bank. It is designed to provide consumers and businesses with convenient, secure, and accessible financial transactions. CBDCs can reduce cross-border transaction costs, provide lower-cost options for those using alternative money transfer methods, and allow central banks to implement monetary policies to promote stability, control growth, and influence inflation. There are two types of CBDCs: wholesale, which would primarily be used by financial institutions; and retail, which consumers and businesses would use. CBDCs are distinguishable from Cryptocurrencies because CBDCs are issued and controlled by a central sovereign authority (such as a central bank). The central governing authority may program and regulate CBDCs to implement specific monetary policies or enhance prevention of financial crimes such as money laundering, tax evasion, and the financing of terrorism. Many countries worldwide are exploring or have already begun implementing CBDC initiatives, including the United States, the United Kingdom, Canada, Brazil, Russia, India, and China. The widespread adoption of CBDCs could eventually replace cash and require all transactions to be recorded digitally and tied to identification. China has made aggressive efforts to deploy a CBDC (the digital renminbi or yuan) with an express intent to expand China’s influence in international markets, but recent trials have not attracted strong public adoption not only because of technical failings but also due to fears that Beijing intends to use the technology to exert greater state control over individuals and private financial transactions. The Commission notes that while there may be benefits from the adoption of CBDGs as noted above, CBDGs also pose many significant risks. In a January 2022 Report, the U.S. Federal Reserve has identifies these risks to include: providing unprecedented capability to governments to compile data about every user’s financial transactions (enabling risks of potentially extensive government surveillance of citizen behaviors); potentially destabilizing the current financial system by reducing traditional private banking deposits and reserves; creating pressures that could exacerbate runs against private banks in times of crisis; and exposing the national payment system to enhanced operational and cybersecurity risks compared to existing payment services...
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Related to Central bank digital currency

  • National Currency means the currency, other than the Euro, of a Participating Member State.

  • Original Currency has the meaning assigned to such term in Section 2.17.

  • First Currency has the meaning specified in Section 1.15.

  • Balance Currency means the currency that the trading account is denominated in and all charges including spreads, commissions and swaps, are calculated in that currency.

  • Optional Currency means a currency (other than the Base Currency) which complies with the conditions set out in Clause 4.3 (Conditions relating to Optional Currencies).

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Virtual currency means a digital representation of value that:

  • Fiat Currency means a currency issued by a country's government or central bank.

  • Local Currency means Kenya shilling;

  • Index Currency means USD.

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.

  • Applicable Currency means as to any particular payment or Loan, Dollars or the Alternative Currency in which such payment or Loan is denominated or is payable.

  • National Currency Unit means the unit of currency (other than a euro unit) of a participating member state;

  • Agreed Foreign Currency means, at any time, (i) any of Canadian Dollars, English Pounds Sterling, Euros, Japanese Yen, Australian Dollars, Swiss Franc, Swedish Krona and New Zealand Dollars, and (ii) with the agreement of each Multicurrency Lender, any other Foreign Currency, so long as, in respect of any such specified Foreign Currency or other Foreign Currency, at such time (a) such Foreign Currency is dealt with in the London interbank deposit market, (b) such Foreign Currency is freely transferable and convertible into Dollars in the London foreign exchange market or the relevant local market, if applicable, and (c) no central bank or other governmental authorization in the country of issue of such Foreign Currency (including, in the case of the Euro, any authorization by the European Central Bank) is required to permit use of such Foreign Currency by any Multicurrency Lender for making any Loan hereunder and/or to permit the Borrower to borrow and repay the principal thereof and to pay the interest thereon, unless such authorization has been obtained and is in full force and effect.

  • Class Currency means the currency in which a Share Class of a Fund is designated as determined by the Directors and disclosed in the Prospectus in relation to such Fund.

  • Other Currency has the meaning specified in Section 1.15.

  • London Banking Day means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

  • Available Currency means Dollars.

  • Quote Currency means the second currency in the Currency Pair which can be bought or sold by the Client for the Base Currency.

  • LIBOR Currency means the currency specified on the face hereof as to which LIBOR shall be calculated or, if no currency is specified on the face hereof, United States dollars. “LIBOR Page”