BIS central bankers’ speeches  7  The immediate impact of the crisis was felt through large capital outflows and consequent fall in the domestic stock markets on account of sell-off by Foreign Institutional Investors and steep depreciation of the Rupee against US Dollar.
Return to text 11 Private-sector stablecoins are also subject to cyber risk, of course, but any individual private stablecoin network  would be less systemic than a CBDC for an entire advanced economy, and private companies are frequently better able to make the rapid and constant investment in technology required to keep current with technological security threats.