Report on the issuance of digital currency

The Committee on Payments and Market Infrastructure (CPMI) and the Markets Committee (MC) of the Bank for International Settlements (BIS) have published a joint report on the issuance of digital currency entitled Central bank digital currencies (CBDC).

The report offers a preliminary analysis of the possible forms of CBDC and their potential implications for financial stability, payments systems and monetary policy.

The effects on the financial system depend heavily on the characteristics of a future digital currency; for example, a CBDC that can be held by individuals could have significant effects on the current financial system.

The report underlines the need to carefully assess the implications of a digital currency when considering the possibility of its issuance.