Return to text 5 Board of Governors of the Federal Reserve System, 2019 Federal Reserve Payments Study (Washington: Board  of Governors, December 2019). Return to text 6 Financial Stability Board, Regulation, Supervision and Oversight of “Global Stablecoin” Arrangements (Basel:  Financial Stability Board, October 13, 2020). Return to text 7 See joinbankon.org/.
*  *  Introduction  Ladies and gentlemen It is a great pleasure to make the closing remarks at the end of this very stimulating conference. As you know, the Bundesbank has hosted this event; and I should like to thank the organisers of the conference for the excellent way they have handled everything.