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

Source details

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

Event: Training Program presented by the Institute for Capacity Development.
Session No.: ST 24.09
Location: Singapore, Singapore
Date: March 18-22, 2024 (1 week)
Delivery Method: In-person Training
Primary Language: English
Status: Deadline passed
Target Audience:
- Mid-level to senior officials in central banks and other government agencies dealing with regulation of the financial sector.
Qualifications:
- Participants are expected to have an advanced degree in economics or finance or equivalent work experience.

Overall aim:
- To give participants a foundation in central bank digital currencies (CBDCs).
Core components:
- Assessment of the business case for CBDC adoption from the perspective of users and central banks.
- Motivations and introductory remarks on digitalization.
- Discussion of the different forms of CBDCs and presentation of considerations for CBDC design and a conceptual framework.
- Presentation of benefits, costs and risks related to CBDCs.
- Study of CBDC implications for financial stability and bank intermediation, monetary policy transmission, financial integrity, and financial inclusion.
- Regulatory considerations at both national and international levels.
- Case studies enabling participants to reflect on country experiences and to test understanding of why some strategies have been successful while some countries have chosen not to proceed with implementation of CBDCs.
Extended offering (face-to-face longer version):
- Participants would be expected to prepare final presentations on a set of predetermined issues.

Upon completion of the 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.