While there is no change in the Bank’s stance that it currently has no plan to issue CBDC, we consider it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems.
8 In light of the mission of CDFIs, it is not surprising that their financial concerns often reflect economic distress in the broader community: the once-thriving local business that is shutting its doors, the affordable rental housing complex that is struggling to make payments as tenants lose jobs and fall behind, and the after-school youth center that cannot repay its loan because its donor base has shrunk.