加拿大、新加坡和英国的中央银行已经分别将央行数字货币(CBDC)列为可以实施的解决方案之一,以解决跨境支付面临的挑战。
这三个国家的中央银行,新加坡金融管理局(MAS)、英格兰银行(BoE)和加拿大央行(BoC)发布的一份联合报告指出,CBDC既可以是零售CBDC,也可以是批发CBDC (W-CBDC),可以为参与者提供24小时可用性、匿名性和消除交易对手信用风险等多种优势。
该报告还得到了来自联合海外银行(United Overseas Bank)、汇丰银行、多伦多道明银行(Toronto-Dominion Bank)和华侨银行集团(Oversea-Chinese Banking Corporation)等商业银行的支持。根据地理范围或可接受程度进行分类,该报告概述了三种W-CBDC模型。
第一种W-CBDC模型是特定于货币的,因此只能在本国转移和交换,而不能在其他司法管辖区使用。因此,在这个模型中将看到中央银行为W-CBDC提供使用当地货币的钱包。因此,商业银行将被要求与发行自己希望持有的货币的各国央行一起使用这个钱包。
在第二种模型中,这三家央行同样提出了一种特定于货币的W-CBDC,不过可以在国内管辖范围之外进行转移和兑换。在这种模型下,每个央行都需要为多种W-CBDC代币提供支持。因此,商业银行将能够使用当地央行的多个W-CBDC钱包来持有这些代币。
第三种模式涉及一种通用的W-CBDC,它由多种货币提供支持,因此可以在所有参与国之间进行转让和兑换。然而,报告称这种模式存在缺陷:
“……因为它需要一揽子货币的支持,这个模型中的W-CBDC容易受到波动、潜在操纵和投资活动的影响。此外,我们的分析表明,在支持W-CBDC的一篮子货币中加入新货币的复杂性,可能会阻碍采用的步伐。
总体而言,报告指出,从使用目前的代理银行渠道进行跨境支付转向使用新的渠道,将有助于克服可用性差、标准碎片化以及必须通过多个中介机构等问题。
报告指出,目前全球零售和企业跨境支付总额预计将以5.5%的速度增长,到2022年将达到30万亿美元,高于2016年的22万亿美元。
这份题为《跨境银行间支付与结算:数字转型的新机遇》的联合报告,很大程度上借鉴了加拿大央行和新加坡金融管理局实施的CBDC项目。
The reserve banks of Canada, Singapore and the United Kingdom have singled out central bank digital currencies as being one of the solutions that can be implemented in order to solve the challenges encountered when making cross-border payments.
The report by the Monetary Authority of Singapore, Bank of England and Bank of Canada notes that CBDCs, which can either be retail CBDCs or Wholesale-CBDCs (W-CBDCs), offer various advantages including 24-hour availability, anonymity and eliminating counterparty credit risk for participants.
The report, which also received input from commercial banks such as United Overseas Bank, HSBC, Toronto-Dominion Bank and Oversea-Chinese Banking Corporation, outlines three models of W-CBDCs that can be implemented with the categorization being based on the geographical reach or acceptability.
The first W-CBDC model is currency-specific and can thus only be transmitted and exchanged within the home country but not to other jurisdictions. Consequently, this model would see central banks offering wallets for the W-CBDC in the local currency. Commercial banks would thus be required to open wallets with the various central banks issuing the currencies they wish to hold.
In the second model, the three central banks propose a currency-specific W-CBDC which would be transmittable and exchangeable beyond the domestic jurisdictions. Under this model, each central bank would be required to offer support to multiple W-CBDC tokens. Commercial banks would thus be in a position of holding with their local central bank multiple W-CBDC wallets
The third model involves one universal W-CBDC which is backed by multiple currencies and can thus be transmitted and exchanged in all the participating jurisdictions. The report, however, says this model has drawbacks:
“… because it requires backing by a basket of currencies, the W-CBDC in this model is subject to volatility, potential manipulation and investment activity. Additionally, our analysis indicates that the pace of adoption could be hampered by the complexity of adding new currencies into the basket backing the W-CBDC.”
Overall, the report notes that switching from the use of the current correspondent banking channels in making cross-border payments into new rails will assist in overcoming problems such as poor availability, fragmented standards and having to go through multiple intermediaries.
This comes at a time when the global value of both retail and corporate cross-border payments is projected to grow by 5.5% annually to reach a figure of US$30 trillion in 2022 up from US$22 trillion in 2016, as noted by the report.
The joint report titled “Cross-border interbank payments and settlements: Emerging opportunities for digital transformation”, drew heavily from the CBDC initiatives that the Bank of Canada and the Monetary Authority of Singapore have carried out with Project Jasper and Project Ubin respectively.
译者:夕雨
来源:巴比特资讯
行业时事
案例分析
【保险的商业逻辑】(一)保险行业大变革
监管动态
深度观察
活动&荐书
清华大学五道口金融学院互联网实验室成立于2012年4月,是中国第一家专注于互联网金融领域研究的科研机构。
专业研究 | 商业模式 • 政策研究 • 行业分析
内容平台 | 未央网 • "互联网金融"微信公众号iefinance
创业教育 | 清华大学中国创业者训练营 • 全球创业领袖项目(报名中!点击查看详情)
网站:未央网 http://www.weiyangx.com
免责声明:转载内容仅供读者参考。如您认为本公众号的内容对您的知识产权造成了侵权,请立即告知,我们将在第一时间核实并处理。
WeMedia(自媒体联盟)成员,其联盟关注人群超千万