The emergence of central bank digital currencies is gathering momentum around the globe, with more than half of the world’s central banks actively exploring their use. CBDCs could have profound implications for the global financial system that need to be thoroughly assessed and worked through – including the impact on commercial banks. Some CBDC models imply outright disintermediation of commercial banks, while others ensure they remain well intermediated and sometimes even stand to gain business benefits. Another rising topic of discussion today is CBDC interoperability – what would cross-border use of CBDCs in the future mean for correspondent banking? Join a panel of senior representatives from commercial banks and central banks to review these questions and more.

Tom Mutton, Director, CBDC Unit, Bank of England
Tony McLaughlin, Managing Director, Emerging Payments and Business Development, Citi
Soon Chong Lim, Group Head of Global Transactions Services, DBS Bank
Florence Lubineau, Head of Central Banks and Supranationals/MDBs in Continental Europe, BNP Paribas

Moderated by John Orchard, Chief Executive Officer, OMFIF

Recorded on 13/10/21

This virtual discussion is part of the OMFIF Digital Monetary Institute. The OMFIF Digital Monetary Institute creates a high-level college which convenes central banks, key policy-makers, technologists, financiers and regulators to explore the challenges, opportunities and implications of digital finance in the 2020s. See more information on OMFIF’s DMI here. Please contact directly for membership details.

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