1/11 Cœuré (11:00): The private sector is ahead of CBs in the new ecosystem of payments and currency. CBs need to continue to provide monetary and financial stability, they need to move ahead quickly to shape this future ecosystem https://twitter.com/BIS_org/status/1314624803719057408

2/11 Cunliffe (17:00): The seven CBs in the report have agreed on principles for a domestic general purpose CBDC use case, one that could help each CB meet its public policy objectives

3/11 Cœuré (18:50): There is no shortage of international cooperation at the BIS on CBDCs. China is a member of the BIS and its CPMI. We have very good discussions with the PBoC on DCEP

4/11 Cœuré (19:40): CBs are not doing CBDCs to boost the international status of their currencies. It is a domestic conversation with citizens on payments, including in China

5/11 Cœuré (20:00): But, if a major country launches a CBDC, there can be unintended consequences and international spillovers, which is an area for cooperation, where the IMF can play an important role

6/11 Cunliffe (20:50): Next week, G20 ministers and governors will explore how new technologies, including CBDCs, could help improve cross-border payments

7/11 Cunliffe (22:50): Private stablecoins and a CBDC can coexist. Regulators need to ensure stablecoins are as safe as existing forms of private money. Some of them might use a CBDC

8/11 Cunliffe (30:50): A domestic CBDC could be integrated into apps. It would support greater competition and a level playing field for new services. Each jurisdiction will have to decide where the public private divide would be in CBDCs

9/11 Cœuré (31:50): In any CBDC architecture there is room for private sector solutions. No CBs in this report believe they would have a comparative advantage in digital wallets

10/11 Cœuré (38:20): Cryptocurrencies should be adequately regulated on investor and consumer protection and AML/CFT

The Financial Stability Board issues global recommendations on the safety and stability of cryptocurrencies

11/11 Cœuré (43:50): CBDCs could have an impact on the transmission of fiscal policy. They could help implement efficient transfers to citizens, support financial inclusion, and fight inequality