Bech, Morten Linnemann, Umar Faruqui, Frederik Ougaard and Cristina Picillo (2018), ‘Payments are a-changin' but cash still rules’. BIS Quarterly Review, March 2018. Available at https://www.bis.org/publ/qtrpdf/r_qt1803g.pdf. 12  While the jury is still out on whether we will have a CBDC, the debate is already bringing benefits.
While much has been accomplished, much more needs to be done. The ambitious reform agenda I have described today will make a huge difference when fully implemented. All G-20 nations need to raise their game. That is why the FSB is increasingly focused on timely and consistent implementation of agreed reforms.