Security of a CBDC Staff Analytical Note 2020-11 Cyrus Minwalla Security is an important element in ensuring public confidence in a central bank digital currency (CBDC). This note highlights the required security properties of a CBDC system and the challenges encountered with existing solutions, should the Bank of Canada choose to issue one. Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E42, E5, E51, O, O3, O31
Designing a CBDC for universal access Staff Analytical Note 2020-10 John Miedema, Cyrus Minwalla, Martine Warren, Dinesh Shah If the Bank of Canada issues a central bank digital currency, the technology should be designed for universal access. Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E41, O, O3, O31
June 24, 2020 Government of Canada Bond Purchase Program The Government of Canada Bond Purchase Program (GBPP) was established to address strains in the Government of Canada bond market, and to enhance the effectiveness of other actions taken to support core funding markets.
June 24, 2020 Bank of Canada contributes to new publications by the Network for Greening the Financial System As a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), the Bank of Canada contributed to three publications that aim to improve global understanding of the impact of climate change on the financial system and world economy. Content Type(s): Publications, Financial System Hub articles Topic(s): Climate change, Economic models, Financial stability, International topics, Monetary policy
June 22, 2020 Targeting inflation during the pandemic Speech summary Tiff Macklem Canadian Clubs and Cercles canadiens Ottawa, Ontario In his first speech, Governor Tiff Macklem explains how the Bank’s commitment to low, stable and predictable inflation has guided our actions during COVID-19. Content Type(s): Press, Speeches and appearances, Speech summaries Topic(s): Coronavirus disease (COVID-19), Inflation targets, Monetary policy, Monetary policy framework, Monetary policy implementation
June 22, 2020 Monetary policy in the context of COVID-19 Remarks (delivered virtually) Tiff Macklem Canadian clubs and cercles canadiens Ottawa, Ontario Governor Tiff Macklem talks about the conduct of monetary policy in the context of COVID-19. Content Type(s): Press, Speeches and appearances, Remarks Topic(s): Coronavirus disease (COVID-19), Inflation targets, Monetary policy, Monetary policy framework, Monetary policy implementation
Privacy in CBDC technology Staff Analytical Note 2020-9 Sriram Darbha, Rakesh Arora Privacy is a key aspect of a potential central bank digital currency system. We outline different technical choices to enact various privacy models while complying with the appropriate regulations. We develop a framework to evaluate privacy models and list key risks and trade-offs in privacy design. Content Type(s): Staff research, Staff analytical notes Topic(s): Central bank research, Digital currencies and fintech JEL Code(s): E, E4, E42, E5, E51, O, O3