Central Banking at the Frontier: Creating a Digital Financial Landscape

The financial sector is on the cusp of digital disruption. In recent years, new technologies, new types of players, and new types of financial products are structurally changing the demand and supply dynamics in the financial sector. New business models are arising, and with them new challenges that could affect both monetary stability and financial stability, the two mandates of most central banks. Amidst this disruption, central banks will need to make sure that the risks to monetary and financial stability are reasonably mitigated while consumers and businesses can benefit the most from what new technologies and innovations bring.

Central Banking at the Frontier: Creating a Digital Financial Landscape aims to guide readers through the emerging digital financial landscape from a central banking perspective, providing a glimpse into the challenges that the central banks are facing, and how the central banks might be able to respond to those challenges. Unlike the strategy and operations in relatively well understood territories of monetary policy and banking supervision, the strategy and operations of central banks to help mitigate risks from digital disruption in the financial sector will be a new frontier in an unfamiliar terrain.

The book benefits from the fact that the author has to grapple through his work as a central banker in a region where FinTech and BigTech firms have been ...

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