{
  "title": "Casting Light on Central Bank Digital Currencies",
  "publication": "Staff Discussion Notes, November 14, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/staff-discussion-notes/issues/2018/11/13/casting-light-on-central-bank-digital-currencies-46233",
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  "summary": "The paper is organized in five sections. The first offers an overview of CDBCs—what they are, why central banks might issue CDBCs, and how they might design these.",
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    {
      "heading": "Overview of CDBCs",
      "content": "- The paper is organized in five sections.\n- The first offers an overview of CDBCs—what they are, why central banks might issue CDBCs, and how they might design these."
    },
    {
      "heading": "Conceptual tradeoffs and implications for financial intermediation",
      "content": "- The second section uses a stylized model to:\n  - Offer a conceptual discussion of the tradeoffs between different CDBC designs.\n  - Examine some of the implications for financial intermediation."
    },
    {
      "heading": "Potential side effects beyond the model",
      "content": "- The third section looks beyond the model at potential side effects of introducing a CDBC on:\n  - Bank funding and business models.\n  - Run risk.\n  - Monetary policy transmission.\n  - Cross-border payments."
    },
    {
      "heading": "Central bank investigations and intentions",
      "content": "- The fourth section offers an overview of central bank investigations and intentions relative to the introduction of a CDBC."
    },
    {
      "heading": "Conclusions and main messages",
      "content": "- The last section concludes and summarizes the main messages from the paper.\n\nCasting Light on Central Bank Digital Currencies. By Tommaso Mancini-Griffoli, Maria Soledad Martinez Peria, Vikram Haksar, Dong He, Giovanni Dell'Ariccia. November 14, 2018. Staff Discussion Notes No. 18/08. Stock No: SDNEA2018008. ISBN: 9781484384572. ISSN: 2221-030X.\n\n---\n\n Content in this bundle\n\n- Staff Discussion Note\n  - Staff Discussion Note (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Staff Discussion Note (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/staff-discussion-notes/issues/2018/11/13/casting-light-on-central-bank-digital-currencies-46233"
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    "Authors: Tommaso Mancini-Griffoli, Maria Soledad Martinez Peria, Vikram Haksar, Dong He, Giovanni Dell'Ariccia",
    "Published: November 14, 2018",
    "Series: Staff Discussion Notes",
    "The paper is organized in five sections.",
    "The first offers an overview of CDBCs—what they are, why central banks might issue CDBCs, and how they might design these.",
    "The second section uses a stylized model to:",
    "The third section looks beyond the model at potential side effects of introducing a CDBC on:",
    "The fourth section offers an overview of central bank investigations and intentions relative to the introduction of a CDBC.",
    "The last section concludes and summarizes the main messages from the paper.",
    "**Staff Discussion Note**"
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