Financial Services Financial Services

Banks' role could be eclipsed by central bank digital currencies, BIS report warns

By Fiona Maxwell
  • 09 Oct 2020 02:30
  • 08 Oct 2020 11:17

Banks' traditional role in the economy could be undermined if central bank digital currencies enter into use, according to a report from the Bank for International Settlements setting out ideas on the core principles of central bank e-money.

< The report published today warns of the risks of bank "disintermediation" — of banks

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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