Patrick Honohan: Vulnerability of small countries with big banking sectors – macroprudential lessons from recent experience Address by Mr Patrick Honohan, Governor of the Central Bank of Ireland, to a conference, organised by the Central Bank of Iceland, Reykjavík, 28 November 2013. *  *  *  Related charts are available here.
The development of CBDCs is still at an early stage in most countries and focuses mainly on domestic markets right now. However, we should not disregard the potential that CBDCs may have for enhancing cross-border payments. They could be used to process instant payments and should also help to extend their reach.