| Anneke Kosse, Bank for International Settlements
| Illaria Mattei, Bank for International Settlements

Today, 90 per cent of central banks are exploring Central bank digital currencies, with over half already developing digital currencies or conducting experiments.

In Session #10 of FNA’s 60-minute webinar series, The CBDC Broadcast, guests Anneke Kosse and Ilaria Mattei from the Bank for International Settlements joined FNA to discuss the recent report ‘Gaining Moment – Results of the 2021 BIS Survey on Central Bank Digital Currencies and the report “Options for access to and interoperability of CBDCs for cross-border payments.”

The session covered:

• The current state of CBDCs
• Emerging trends surrounding bank engagement, motivations and intentions
• The critical questions to address when developing a CBDC
• Common interoperability models and the likelihood they are to succeed
• Wholesale CBDCs and cross-border payments
• The cross-border frictions CBDCs could address
• The importance of international cooperation to the success of a CBDC

| Larissa de Lima, Oliver Wyman Forum
| Erica Salinas, Amazon Web Services

In previous sessions of The CBDC Broadcast, we focused on the 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.

Session #8 of the CBDC Broadcast featured guests Larissa De Lima (Oliver Wyman Forum) and Erica Salinas (Amazon Web Services), who joined FNA to discuss their joint report: Retail Central Bank Digital Currency: From Vision to Design. The report sets a framework to support policymakers in evaluating the interdependencies between policy and technological choices and highlights the importance of ensuring CBDC motivations, design principles and policy decisions are properly aligned.

The session covered:

• The principles that influence CBDC design choices
• Key policy trade-offs when designing a CBDC
• What services a Central Bank may offer if it positions itself close to identify-based services
• The role the private sector plays in designing a CBDC
• How central banks can make CBDCs as attractive as possible without threatening financial stability
• The choices around ledger technologies for CBDCs
• The risks associated with the implementation of a CBDC system
• Whether a G7 bank is likely to introduce a CBDC in the next five years