Central bank digital currencies - executive summary

A group of seven central banks (Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, Sveriges Riksbank and Swiss National Bank), together with the Bank for International Settlements, are working together to explore central bank digital currencies (CBDCs) for the public ("general purpose" or "retail'' CBDC).

Here is a summary of progress made since publishing a report in October 2020 setting out the common foundational principles and core features of a CBDC. Alongside the executive summary, three detailed reports are also being published:

• System design and interoperability;
• User needs and adoption;
• Financial stability implications.