After receiving criticism from industry players last year for being too conservative, a committee at the Bank for International Settlements (BIS), has proposed a cap on how much exposure traditional banks can have to cryptoassets “where there is no counterparty.” According to a new consultation report from the BIS’ Basel Committee on Banking Supervision, the…
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The current high levels of inflation in both the US and Europe have given central bankers an opportunity to “understand better how little we understand about inflation,” US Federal Reserve (Fed) chair Jerome Powell said. Speaking at the European Central Bank’s (ECB) Forum on Central Banking in Portugal on Tuesday, Powell admitted in his comments…
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As the Bank for International Settlements’ (BIS), also known as “the central bank of central banks,” tried to monopolize trust in money with its new report this week, analysts stress that it simply represents “a legacy vision” that brings a number of new risks, and the BIS fails to recognize “revolutionary benefits” of the…
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As central banks across the globe are now admitting they failed to keep inflation under control and by sharply rising rates threaten to push economies into recession, they now claim that they are the main source of trust in the monetary system. … Read More: After Inflation Fiasco, Central Banks Now Want to Monopolize Trust…
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As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust in using CBDCs, according to a recent paper released by the…
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The return to inflation in the world means that real interest rates need to rise into positive territory, but with historically high levels of debt, such a move by central banks will not be popular, the Bank for International Settlements’ (BIS) head Agustín Carstens warned…. Read More: ‘New Inflationary Era’ Upon Us, Central Bank…
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As decentralized finance (DeFi) and central banking share a number of objectives, building bridges between decentralized and centralized finance (CeFi) could open up new possibilities for the use of central bank digital currencies (CBDCs) , according to the participants of a debate held by the Innovation Hub of the Bank for International Settlements (BIS) and…
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Decentralized finance (DeFi) protocols are “crucial” for financial inclusion, particularly in the developing world. And despite being inherently centralized, central bank digital currencies (CBDCs) are a welcome part of that, said the participants at a discussion hosted by the Bank for International Settlements (BIS)…. Read More: DeFi ‘Crucial’ for Financial Inclusion, CBDCs Still Welcome…
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On Tuesday, Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School announced a new research initiative focused on the “growing digital asset ecosystem.” According to CCAF, the newly launched collaborative effort involves 16 financial institutions such as the Bank for International Settlements (BIS), Accenture, EY, Goldman Sachs, and more. CCAF Launches 2-Year Research…
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Competing systems for settlement of “multiple assets and currencies” may emerge, and it is the job of central banks to ensure the maintenance of “equitable access” to central bank-issued money, a new report from the Bank for International Settlements (BIS) has said…. Read More: Central Banks Test CBDC as ‘Multiple Assets and Currencies’ Coming…
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