Central banks playing catch-up The global economy is facing an incredible amount of uncertainty at the moment which is continuing to drive the volatility we’re seeing in financial markets. Whether it’s uncertainty around inflation, interest rates, commodity prices, Covid or Ukraine, the growth outlook has become extremely unclear and is constantly subject to significant revisions. […]

As the tension between Ukraine and Russia is intensifying, volatility is expected to increase in global markets. The EU upped its sanctions on Russia, cutting 'selected banks' from SWIFT.

An active member of the governing board for the Swiss National Bank (SNB) Andréa Maechler, has recently disclosed the thoughts of most of her colleagues at the central bank, especially regarding the issuance of the country’s CBDC — the digital franc. According to Maechler, the risks attached to central bank-issued digital currency outweighs its benefits,

The post This SNB Governing Board Member Says The Risks of a CBDC Outweighs Its Benefits appeared first on CoinGape.

The Swiss National Bank does not see any overall benefit from issuing a central bank digital currency (CBDC) to be used by the general public and used in day-to-day transactions, governing board member Andrea Maechler said on Tuesday. “We believe the risks outweigh the benefits,” Maechler told a financial conference held in Frankfurt, saying a […]

Read full post Swiss National Bank is not in favor of issuing a retail CBDC. on Chaintimes.com.

Citi, Credit Suisse, Goldman Sachs, Hypothekarbank Lenzburg and UBS also took part in the experiment.

The Swiss National Bank has worked with some leading financial institutions globally to look into central bank digital currencies (CBDCs). Through this partnership, the institution [...]

It is no surprise that central bank digital currency (CBDC) will be a game-changer for international and local businesses. Then regulators, consumers, and other stakeholders. Basically, CBDC is a digital form of fiat currency issued by a country’s central bank. It was trialed in China and is being explored in many other economies. That said, different trials are being scheduled for CBDCs […]

The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX. Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks […]