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Jordan: Technical Assistance Report-Forecasting Framework for Currency in Circulation

2022-04-07 Business & Economics
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Release : 2022-04-07
Genre : Business & Economics
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Book Synopsis Jordan: Technical Assistance Report-Forecasting Framework for Currency in Circulation by : International Monetary

Download or read book Jordan: Technical Assistance Report-Forecasting Framework for Currency in Circulation written by International Monetary. This book was released on 2022-04-07. Available in PDF, EPUB and Kindle. Book excerpt: The currency in circulation forecasting model presently used by the Central Bank of Jordan is aligned with international practices and provides a solid basis for liquidity management. The central bank uses an Auto Regressive Integrated Moving Average (ARIMA) model with many indicator variables to model binary seasonality and to capture special events. The ARIMA model is fitted on daily currency in circulation data using a standard maximum likelihood estimator. This ARIMA approach is aligned with the models traditionally used by central banks in emerging and middle-income countries.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

2021-10-22 Business & Economics
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Release : 2021-10-22
Genre : Business & Economics
Kind : eBook
Book Rating : 953/5 ( reviews)

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Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa

Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa. This book was released on 2021-10-22. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

The Design and Printing of Bank Notes

1995-03 Business & Economics
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Release : 1995-03
Genre : Business & Economics
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Book Synopsis The Design and Printing of Bank Notes by : Mr.Richard K. Abrams

Download or read book The Design and Printing of Bank Notes written by Mr.Richard K. Abrams. This book was released on 1995-03. Available in PDF, EPUB and Kindle. Book excerpt: Many newly independent or systemically transforming countries feel a pressing need to--or must--introduce their own national currency. Other countries simply wish to enhance the attractiveness, usefulness, durability, and/or security of their currencies. However, it is difficult to find consistent published information on the various aspects of this process. This paper attempts to ameliorate this problem by discussing the main issues in designing, producing, and printing a new currency, in order to help those charged with these tasks to proceed in an orderly and informed manner. Attention is also given to examining the options that may be available when this exercise must be undertaken on an emergency basis, with little or no warning.

Cash Use Across Countries and the Demand for Central Bank Digital Currency

2019-03-01 Business & Economics
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Release : 2019-03-01
Genre : Business & Economics
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Book Rating : 609/5 ( reviews)

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Book Synopsis Cash Use Across Countries and the Demand for Central Bank Digital Currency by : Mr.Tanai Khiaonarong

Download or read book Cash Use Across Countries and the Demand for Central Bank Digital Currency written by Mr.Tanai Khiaonarong. This book was released on 2019-03-01. Available in PDF, EPUB and Kindle. Book excerpt: The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card—not better. Demand for digital currency will thus be weak in countries where cash use is already very low, due to a preference for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be stronger, due to a lack of cash substitutes. As the demand for CBDC is tied to the current level of cash use, we estimate the level and trend in cash use for 11 countries using four different measures. A tentative forecast of cash use is also made. After showing that declining cash use is largely associated with demographic change, we tie the level of cash use to the likely demand for CBDC in different countries. In this process, we suggest that one measure of cash use is more useful than the others. If cash is important for monetary policy, payment instrument competition, or as an alternative payment instrument in the event of operational problems with privately supplied payment methods, the introduction of CBDC may best be introduced before cash substitutes become so ubiquitous that the viability of CBDC could be in doubt.

Virtual Currencies and Beyond

2016-01-20 Business & Economics
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Release : 2016-01-20
Genre : Business & Economics
Kind : eBook
Book Rating : 305/5 ( reviews)

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Book Synopsis Virtual Currencies and Beyond by : Mr.Dong He

Download or read book Virtual Currencies and Beyond written by Mr.Dong He. This book was released on 2016-01-20. Available in PDF, EPUB and Kindle. Book excerpt: New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.

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