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The ECB and Euro E-Banknotes

Zellweger-Gutknecht, Corinne and Geva, Benjamin and Grünewald, Seraina Neva. (2020) The ECB and Euro E-Banknotes. Osgoode Legal Studies Research Paper.

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Abstract

The modern monetary system is controlled by the state and yet linked to private deposit banking. Monetary value held in deposits with commercial banks is known as ‘commercial bank money’ (CoBM). Monetary value held in deposits with the central bank – as well as banknotes issued by the central bank – is called ‘central bank money’ (CeBM). Under this scheme, central banks thus issue two forms of central bank money: cash for the retail sector and balances in traditional reserve accounts for wholesale purposes (reserves). However, for several years now, and most recently in particular against the background of private actors commencing to issue private digital currencies, a growing number of central banks have also been investigating the possibility and implications of issuing a digital form CeBM for the general public: central bank digital currency (CBDC), also known as retail CBDC (rCBDC).
Faculties and Departments:02 Faculty of Law > Departement Rechtswissenschaften > Fachbereich Privatrecht > Professur Privatrecht, insb. Gesellschafts- und Handelsrecht (Zellweger-Gutknecht)
UniBasel Contributors:Zellweger-Gutknecht, Corinne
Item Type:Working Paper
Publisher:SSRN
Number of Pages:125
Note:Publication type according to Uni Basel Research Database: Discussion paper / Internet publication
Language:English
Identification Number:
edoc DOI:
Last Modified:18 Apr 2021 03:10
Deposited On:15 Feb 2021 08:39

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