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Financial Sector Policies

Central Bank Digital Currencies (CBDC)

Apply online by December 23, 2024 Deadline extended

Session No.: SA 25.03

Location: New Delhi, India

Date: February 3-7, 2025 (1 week)

Delivery Method: In-person Training

Primary Language: English

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    Target Audience

    Mid-level to senior officials in central banks and other government agencies dealing with regulation of the financial sector.

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    Qualifications

    Participants are expected to have an advanced degree in economics or finance or equivalent work experience.

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    Course Description

    The course is designed to give participants a foundation in central bank digital currencies (CBDC). It will assess the business case for CBDC adoption from the perspective of users and central banks. After some motivations and introductory remarks on digitalization, the course will discuss the different forms of CBDCs, and present considerations for CBDC design and a conceptual framework. The course will present the benefits, costs and risks related to CBDCs. In addition, CBDCs will be studied in terms of their implications for financial stability and bank intermediation, the monetary policy transmission, financial integrity, and financial inclusion. Sometime will be devoted to regulatory considerations, both at the national and international level.

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    Course Objectives

    Upon completion of this course, participants should be able to:

    • Explain the economic rationale for the use of CBDCs compared to other payment instruments.
    • Use the framework presented in the course to think about the design and implementation of CBDCs.
    • Use the concepts introduced in the course to assess the benefits and costs of CBDCs.
    • Identify threats to financial stability and various risks based on country case studies.
    • Extract lessons from country pilots to try to prevent design pitfalls.
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