The Banking Executive Magazine - November 2022 Issue

Central banks around the world con- tinue to contemplate issuing their own digital currencies (CBDCs). Some have already taken steps in this direction. The People’s Bank of China launched a trial of its e-CNY in Shenzhen in 2020 and has since extended its use to other cities. The Sveriges Riksbank is testing its e- krona for commercial and retail pay- ments. Even the relatively staid US Federal Reserve Board has issued a paper weighing CBDC pros and cons. Central Bank Digital Currencies THE DILEMMA 42 ISSUE 167 NOVEMBER 2022 the BANKING EXECUTIVE