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

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

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Bibliographic details

• Session: JV 24.21
• Location: Vienna, Austria
• Dates: July 22-26, 2024 (1 week)
• Delivery method: In-person Training
• Primary language: English
• Status: Deadline passed

Event logistics and identifiers

• Session No.: JV 24.21
• Location: Vienna, Austria
• Date: July 22-26, 2024 (1 week)
• Delivery Method: In-person Training
• Primary Language: English
• Status: Deadline passed

Target audience and qualifications

• 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.

Course description — scope and content

• Presented by the Institute for Capacity Development.
• Designed to give participants a foundation in central bank digital currencies.
• Key analytical strands and content areas:
  • 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 considerations for CBDC design and a conceptual framework.
  • Presentation of the benefits, costs and risks related to CBDCs.
  • Analysis of implications for:
  • Financial stability and bank intermediation.
  • Monetary policy transmission.
  • Financial integrity.
  • Financial inclusion.
  • Regulatory considerations at the national and international level.
  • Case studies to reflect on and discuss country experiences, including why some strategies have been successful and why some countries have chosen not to proceed with implementation.
  • In a longer (face to face) version of the course, participants would be expected to prepare final presentations on a set of predetermined issues.

Course objectives — expected competencies on completion

• 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.

References

• In-person Training
• Core Elements of Banking Supervision (CBS)
• Advanced Government Finance Statistics (GFS-A)
• Fiscal Sustainability (FS)
• Safeguards Assessments of Central Banks (SAC)
• Macroeconomic Management in Resource Rich Countries (MRC)