Fintech: Is this time different? A framework for assessing risks and opportunities for central banks

Aaron, Meyer; Rivadeneyra, Francisco; Sohal, Samantha

doi:doi:10.34989/sdp-2017-10

Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/200480

Title:

Fintech: Is this time different? A framework for assessing risks and opportunities for central banks

Authors:

Aaron, Meyer
Rivadeneyra, Francisco
Sohal, Samantha

Year of Publication:

2017

Series/Report no.:

Bank of Canada Staff Discussion Paper No. 2017-10

Publisher:

Bank of Canada, Ottawa

Abstract:

We investigate the risks and opportunities to the mandates of central banks arising from fintech developments. Fintech may affect the different areas of responsibility of central banks - mainly monetary policy and financial stability - by changing money demand and by changing the industrial organization of the financial system. We present a competitive strategy framework to help evaluate the likelihood of these changes.

Subjects:

Central bank research
Digital currencies
Financial institutions
Payment clearing and settlement systems

JEL:

G1
G2
L1
E42

Persistent Identifier of the first edition:

doi:10.34989/sdp-2017-10

Document Type:

Working Paper

Appears in Collections:

Bank of Canada Staff Discussion Papers

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