The profits of the banking in danger by the possible transformation of the world-wide economy by the CBDC

Los beneficios de la banca en peligro por la posible transformación de la economía mundial por las CBDC

The profits of the banking in danger by the possible transformation of the world-wide economy by the CBDC

The emergent technology of transactions transfronterizas with digital coins issued by a central bank (CBDC) could transform the world-wide economy when offering services faster, cheap and insurances to many of his participants. But it is possible that to the banks do not go them so well in this new economy, affirms Moody's Investor Service in a report dated on 21 March.

A lot of proposals for the national use of the CBDC foresee a crucial paper of intermediation of the banks in his operations, but the transactions transfronterizas with CBDC would depend a totally new infrastructure that would reduce more the paper of the banks, signalled Moody's. The banks also would benefit of the new technology. The risk of liquidation could reduce or delete:

"The banks could make, compensate and clear payments transfronterizos to low cost and in seconds, without need to subscribe to multiple systems of payment or depend banks correspondents in other countries".

The same innovations also "would reduce the profits of the banks by the payments, the services of corresponsalía and probably also by the transactions of currencies". The paper of the banks correspondents could delete completely. And no only this:

"In an economy promoted by a CBDC, is very possible that the banks have to rediseñar his operations. They can see obliged to join to new nets and create the necessary infrastructure to lean the interoperability of CBDCs to scale, what will impose a load on the resources in the short term".

The Central Bank of the Arab Emirates Joined signs strategic agreement for his CBDC

The interoperability of the CBDC retail and wholesalers is elaborating in experimental projects, often with the participation of the Bank of International Payments. "It is possible that the central banks have to yield in some appearances of the taking of decisions so that his CBDC are interoperables", affirms Moody's. Of the contrary, could create "digital islets" among small groups of countries that can make transactions among yes, but no with other countries.

Questions like the fight against the bleaching of money, the sanctions and the privacy would require a juridical and normative frame, and the support to the CBDC is not universal. "It is likely that the traditional financial operators that benefit of the existent architecture do not contribute to facilitate his adoption", signals the report.

A CBDC American confronts to the refusal of some legislators by motives of privacy. The direct exchange of currencies also could reduce the paper of the American dollar in the world-wide economy, what does not augment his appeal in the Congress.

 
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