Greater access could increase competition and innovation in our payments landscape going forward but it needs to be weighed against the central importance of ESAS to our core functions and the risks that may arise from a wider range of institutions having direct access.
Central Bank Digital Currency work scoping design and benefits approaches As you’ll be well aware, we are also exploring how a Central Bank Digital Currency, or CBDC, may support the role and use of central bank money in the digital age. Our work on CBDC so far has already attracted a lot of interest from fintechs, financial institutions and the general public alike.