Payments

Letters and Testimonies

Letters to Congress

Title Recipient Date
116th Congress 10/15/20
U.S. House Task Force on Financial Technology 09/29/20
Senate Banking and House Financial Services Committees 08/28/19
House Financial Services Committee 07/16/19
Senate Banking Committee 07/15/19
U.S. House of Representatives 02/28/19

Testimony

Title Committee Presenter Date
HSFC 09/29/20
House Financial Services Committee's Task Force on Financial Technology Robert A. Steen 09/26/19
Senate Banking Committee Robert A. Steen 09/25/19

Payments News

Public-private partnership key to CBDC: report

A future central bank digital currency system would need to involve both public and private actors to ensure interoperability with the broader payment system, according to new reports from the Bank for International Settlements.

Details: Issued with the Federal Reserve and other central banks, the reports explore private-public collaboration, how a CBDC could best serve consumers, and the possible effect of CBDCs on banking intermediation and resilience.

Fed Research: The BIS release follows reports that the Federal Reserve Bank of Boston is nearing the completion of a research project on a U.S. CBDC, with Fed governors and other policymakers divided on the issue.

More: A recent ICBA blog post discusses why a U.S. CBDC must account for the vital role played by community banks. It also offers community bank primers on crypto and central bank digital currency.