CPMI publishes a new report on the role of central banks and central bank money in the evolving payment system
The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI), chaired by Banca d'Italia Governor Fabio Panetta, has published a new report titled The roles of central banks and central bank money in the evolving payment system. The report examines how technological innovation, changing user demand and the emergence of new service providers and infrastructures are transforming payments systems.
It analyses the implications of these developments for central banks, outlining the relevant policy tools and choices. The report also reaffirms the role of central bank money as a cornerstone of trust in, and stability of, the payment system of a modern economy.
The publication includes a foreword by Governor Fabio Panetta.
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