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

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Designed to give participants a foundation in central bank digital currencies.
Assesses the business case for CBDC adoption from the perspective of users and central banks.
Provides motivations and introductory analysis on digitalization.
Discusses different forms of CBDCs and presents considerations for CBDC design and a conceptual framework.
Presents the benefits, costs and risks related to CBDCs.
Studies implications of CBDCs for:
- financial stability and bank intermediation,
- monetary policy transmission,
- financial inclusion.
Covers regulatory considerations at both the national and international level.
Uses case studies for:
- reflecting on and discussing country experiences,
- testing understanding of why some strategies have succeeded and why some countries have chosen not to proceed with implementation.

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 case studies.
Extract lessons from country pilots to try to prevent design pitfalls.