With:

| Masaki Bessho, Bank of Japan

There are many motivations for rolling out a CBDC, from achieving higher financial inclusion and higher transactional efficiency to preserving monetary sovereignty by compensating for the declining use of cash and by countering the entrance of new private forms of digital currencies.

Each country has a different set of features and objectives that make the CBDC’s design and roll-out a tailor-made process.

In the seventh session of FNA’s CBDC Broadcast, we talked to two guest speakers from the Bank of Japan and Standard Chartered Bank Singapore, who offer an insight into CBDCs from an Asia-Pacific perspective.

The Session Covered

Throughout history, technological developments, economic growth and the requirement for the effective execution of payments have driven changes to currencies and the financial system- from the first transatlantic cable to the rise of ATMs and credit cards 100 years later.

Today, as new technologies and innovations continue to emerge with the potential to transform the financial system, such as CBDCs, we ask, what historical and modern lessons are shaping the future of CBDCs?

To answer this question guests John Kiff, Managing Director at the CBDC Think Tank and Harish Natarajan, Lead Financial Sector Specialist, Finance, Competitiveness & Innovation at The World Bank joined FNA for Session #6 of The CBDC Broadcast.

The session covered:

With:

| Ludmilla Buteau Allien, Bank of the Republic of Haiti

There are many motivations for rolling out a CBDC, from achieving higher financial inclusion and higher transactional efficiency to preserving monetary sovereignty by compensating for the declining use of cash and by countering the entrance of new private forms of digital currencies.

Each country has a different set of features and objectives that make a CBDC’s design and roll-out a tailor-made process. Having heard about the challenge and motivation from a G7 perspective in Session #4 with the Bank of England and the Bank of Canada, we turn our attention to Latin America as we hear from Ludmilla Buteau Allien (Bank of the Republic of Haiti) and Dr Adolfo Sarmiento (Central Bank of Uruguay)

With:

| Francisco Rivadeneyra, Bank of Canada

There are many motivations for rolling out a CBDC, from achieving higher financial inclusion and higher transactional efficiency to preserving monetary sovereignty by compensating for the declining use of cash, and by countering the entrance of new private forms of digital currencies.

Each country has a different set of features and objectives that influence a CBDC’s design, making the roll-out a tailored process.

In this fourth session of FNA’s CBDC Broadcast, we talk to Dr Francisco Rivadeneyra from the Bank of Canada and Mehregan Ameri from the Bank of England to gain an insight into CBDCs from a G7 perspective

Dr Kimmo Soramäki and Dr Carlos León joined host Will Towning to explain how central banks, commercial banks and other organisations can use simulation technology to understand the impacts of introducing a CBDC? The presentations covered:

Adrian Waddy, Data Consultant at Australian Prudential Regulation Authority and Developer at the Bank of England, joins host Adam Csabay to discuss his contribution to the Risk books publication, Data Science in Economics and Finance for Decision-makers.

Adrian's chapter, Implementing Big Data Solutions, provides an insight into implementing Big Data platforms and the decisions that must be made along the way to ensure the platform is efficient, effective and user-friendly.

The book, published in March this year, edited by the ECB's Per Nymand-Andersen, provides an overview of how digital transformation and Data Science can support decision making. It offers a variety of perspectives, from over 20 contributors to manage digital data.

FNA'ers Kimmo Soramäki, Ivana Ruffini, Mikhail Oet, Tomas Takko and Adam Csabay and David Bolder from Nordic Investment Bank also feature in the publication. The latter also discusses his chapter in a previous FNA Talks episode.

Episode breakdown:

In this latest episode of the FNA Talks podcast series, David Bolder, Director of Model Development and Economic Capital and FNA’s Central Bank and Academia Programme Manager, Will Towning, discuss one of the most awaited Fintech publications of 2021: Data Science in Economics and Finance for Decision Makers, edited and co-authored by the ECB’s Per Nymand-Andersen.

David – who co-authored the book – and Will review the key themes of David’s contributions, highlighting the practical implications and demystifying common disillusions of where data science fits into a decision maker’s tool kit.

The book, published in March this year, provides an overview of how digital transformation and data science can support decision making and offers a variety of perspectives on managing digital data.

Contributions from FNA’ers Kimmo Soramäki, Ivana Ruffini, Mikhail Oet, Tuomas Takko and Adam Csabay also featured in the book. The chapter FNA authored, Prudential Stress Testing in Financial Networks, provides a taxonomy of organizational problems facing firms operating in financial markets, and offers a comprehensive approach to information system design that addresses stress testing in networks.

The FNA Team’s work sits amongst contributions from over 20 global experts from both the private and public sectors.

The book can be purchased here: https://riskbooks.com/data-science-in-economics-and-finance

0:00 – Introductions

It's the one topic that's been on everyone's mind since the start of 2020, Covid-19. But what impact have Covid-19 disruptions had on the financial sector, and what technological innovations have arisen as a result?

In this episode of FNA Talks, Kevin Gardiner, Managing Director and Global Investment Strategist at Rothschild & Co joins host Adam Csabay to highlight the key lessons from the Covid-19 crisis, assess its impact on the future of Fintech and explore the implications of CBDCs on the roles and responsibilities of Central Banks and Financial Services providers.

00:00: Introduction

01:19: To what extent has your business been affected by the COVID-19 crisis, and what key lessons would you highlight for our listeners?

04:05: Has Fintech- or innovative technology in general- provided any useful tools for tackling these disruptions?

05:13: Which key areas should fintech innovation focus on going forward?

08:12: In what ways will the financial industry be affected by developments related to CBDCs and the rise of digital money in general?

11:04: Can the Libras- or digital money issued by BigTechs- challenge Central Banks’ monopoly over monetary policy?