ANDREW BAILEY BANK OF ENGLAND ON MONETARY CHANGES CBDC
NEW RELEASED AND AIRED TODAY 12/04/2023 - THEIR WORDS! The short version of the main points:
1: I don’t believe we face a systemic banking crisis;
2: We must ensure that financial stability continues to mean that monetary policy takes into account financial conditions but does not have to aim off for instability;
3: This requires robust structures for financial stability policymaking;
4: Central bank balance sheets will remain larger than pre-crisis for financial stability reasons;
5: We don’t know yet where central bank balance sheet reduction will need to stop in terms of the necessary level of reserves;
6: This will in part depend on the desired future size and make-up of banks’ liquidity buffers;
7: Stable coins will need to have the characteristics of, and be regulated as, inside money;
8: The key question on retail digital money is can we envisage a demand for it, but we should guard against failure of imagination; and be able to accommodate it within the regulatory framework;
9: If retail digital money is part of the future, it would be better not to disturb the need to have both inside and outside money – so we cannot rule out a need for CBDC;
10: We will need to revisit the protection of inside money in the form of deposits, especially in smaller banks;
11: Stress testing the financial system is crucial, but stress tests will not always deal with Black Swans – that’s why resolution and other policy intervention tools must be in place;
12: Non-Bank Financial Intermediation is a very large and heterogeneous landscape – it presents surveillance challenges of both breadth and depth;
13: NBFI leverage and inter-connectivity can be hard to map;
14: NBFI issues are often inherently cross-border in nature. The role of the FSB is important;
15: Macro and micro-prudential policies need also to support lending to and investment in the economy;
SOURCE: https://www.bankofengland.co.uk/speech/2023/april/andrew-bailey-remarks-at-the-institute-of-international-finance
-
2:01
LSNT
1 day ago32, 33 Degree MASON " Thats NICE" - Its Not The Top Though...
407 -
14:53
Winston Marshall
4 days agoTrump Just Said THIS On X...It Will Surprise You!
68.1K43 -
38:37
Patriots With Grit
5 hours agoRestoring Our Republic: Taking Back Our Border | Kim Yeater, Eddie Cornell & Scotty Saks
28.1K7 -
51:54
TheTapeLibrary
17 hours agoDisturbing Haunting of a Witches' Prison | The True Story of The Cage
25.1K4 -
0:30
steveinman
1 day agoBrotherly Love
46.5K4 -
2:58:53
Jewels Jones Live ®
1 day agoVIOLENT RHETORIC | A Political Rendezvous - Ep. 92
64.6K38 -
1:13:17
Exploring With Nug
15 hours agoMissing Person's Remains Found In Virginia Well
45.5K12 -
2:00:56
Tate Speech by Andrew Tate
12 hours agoEMERGENCY MEETING EPISODE 76 - GYAL DEM
273K434 -
23:06
MYLUNCHBREAK CHANNEL PAGE
1 day agoThe Old World is in The Catacombs? - Part 3
64.9K28 -
LIVE
Right Side Broadcasting Network
5 days agoLIVE REPLAY: Pres. Trump Holds a Rally in Wilmington, NC on Jobs, Inflation, & the Economy - 9/21/24
4,253 watching