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Financial Sector Policies

Central Bank Digital Currencies: Principles and Policy Considerations (CBDC)

Invitation

Session No.: CT 24.04

Location: Shenzhen, China

Date: February 19-23, 2024 (1 week)

Delivery Method: In-person Training

Primary Language: English

    Target Audience

    Mid-level to senior officials in central banks and other government agencies dealing with regulation of the financial sector.

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    Qualifications

    Participants are expected to have an advanced degree in economics or finance or equivalent work experience.

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    Course Description

    This course, presented by the Institute for Capacity Development, is designed to give participants a foundation in central bank digital currencies. This course assesses the business case for CBDC adoption from the perspective of users and central banks. Following some motivations and introductory remarks on digitalization, the course discusses the different forms of CBDCs and presents considerations for CBDC design and a conceptual framework. The course presents the benefits, costs and risks related to CBDCs. In addition, CBDCs are studied in terms of their implications for financial stability and bank intermediation, the monetary policy transmission, financial integrity, and financial inclusion. Some time is devoted to regulatory considerations, both at the national and international level. Case studies allow participants to reflect on and discuss country experiences and test their understanding of how and why some strategies have been successful while some countries have chosen not to proceed with the implementation of CBDCs yet. 

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Explain the economic rationale for the use of CBDCs compared to other payment instruments.
    • Use the framework presented in the course to think about the design and implementation of CBDCs.
    • Use the concepts introduced in the course to assess the benefits and costs of CBDCs.
    • Identify threats to financial stability and various risks based on country case studies.
    • Extract lessons from country pilots to try to prevent design pitfalls.
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