Today, I would like to share with you some of my thought on the Central Bank Digital Currency, or CBDC. CBDC has attracted growing attention in recent years. According to a BIS survey in May, 90% out of the 81 respondent central banks have started work on CBDC.
According to the introduction of the new Accord, issued in June 2004: “The objectives are to broadly maintain the aggregate level of minimum capital requirements, while also providing incentives to adopt the more advanced risk sensitive approaches of the revised Framework” The new framework intends to achieve this objective through three Pillars: The first pillar aligns the minimum capital requirements more closely to banks’ actual underlying risks and allows banks, under certain preconditions, to rely on their own measures of those risks.