The debtor of central bank money is a central bank, the debtors of bank deposits are private banks, and the debtor of government securities is a government. Although those financial assets do not have intrinsic value as materials in themselves, they are regarded as valuable assets and fulfill their functions.
The Bank of Canada’s website has a page where you can follow our work as we post key findings and updates from our meetings. I hope that those of you who are not already involved will participate in some of our subgroups and comment on our work. You will also want to think about the readiness of your own organizations.