-8-  money held in deposits at commercial banks—is widely used because consumers and businesses trust that the money they deposit with a commercial bank can be converted, on demand, into a claim on another commercial bank’s money or currency. This confidence owes in large part to bank deposit insurance and the fact that commercial banks are supervised and regulated.
BIS central bankers’ speeches  1  Naturally, we would also be concerned to ensure reliable data management so as to monitor and appropriately adjust our monetary policy operations in tandem with the related structural changes. This symposium will help us to master the role of central banks in harnessing financial innovation so as to prudently maximize financial inclusion.