Board of Governors of the Federal Reserve System

best serve the needs of the United States by being privacy-protected, ...for, issuing a CBDC. For the purpose of this paper, a CBDC is defined

and led to some misconceptions--about the credit risk being taken by the...key interbank rates, such as the London interbank offered rate (Libor)

compared with potential output growth of about 2-1/2 percent prior to ...for example, accelerations or decelerations in trend productivity and

key loan loss allowance accounting issues. Most importantly, the letter...key aspect of these efforts will be obtaining input from the banking industry

key distinction is between date-based and outcome-based FG, as these two...key concepts, we assume here that the yield cap or target would be set

prices, contagion from other emerging markets, and, turmoil originating...key issues concerning the activities of an international lender of last

best satisfy their individual interpretation of the Federal Reserve's ...the upper panel). The remaining six participants judged that raising the

price moves. To address the latter issue, we also systematically compare...key asset prices experienced large moves on the days of the events.8 Figure

and, relatedly, the volatility and flexibility of exchange rates have ...best capture the economic impact of exchange rate regime choice, we use

comparing prices, technology has increased the scope for decentralized...and, in practice, does vastly reduce counterparty risk. The central counterparty