Will China join CABEI as a member? I participated in many side discussions on the subject this week in Montevideo during the OLADE Energy Week conference.
In short, yes, there are a small number of shares that could be acquired by China if they decide to join CABEI. It would be up to the CABEI Board of Governors to approve or disapprove a membership application.
The UK, France or, as I've mentioned to several US officials, the United States (or DFC) could join as well. The benefit? For a down payment of $20 million you'd get a seat at the table determining where and how CABEI's $2.5 billion in lending is allocated throughout Central America.
Of course an existing member (Taiwan, Korea, Spain, Belize etc) could move even quicker to acquire the shares if they so desired.
Lots of options. Let's see what happens.
"Digital currencies: Switzerland has the potential to play a pioneering role
Making the Swiss franc available in digital form is central to the country's innovative strength and competitiveness. This field must not be left to foreign providers, it is also about our country's monetary sovereignty.
According to a recently published study by the Bank for International Settlements, 93 percent of all central banks worldwide are working on issuing their currencies in digital form in the future. In professional circles, however, this idea is met with increasing skepticism (NZZ June 30, 2023 and July 5, 2023). Against the background of regulatory considerations, the reservations are understandable. However, it would be wrong and dangerous to conclude from this that the regulated issue of digital currencies should be dispensed with entirely – also and especially for Switzerland.
Making the national currency available in digital form is important for our country's innovative strength and competitiveness as well as for its monetary sovereignty. It would be fatal to leave this field to foreign providers.
Agility and customer proximity
For this reason, a digital franc is needed as a regulated offer from Switzerland for Switzerland. But does this necessarily have to be issued directly by the central bank, thereby jettisoning the tried-and-tested division of roles in monetary policy? No, according to the Swiss National Bank (SNB). As early as January 2022, Andréa Maechler - at that time a member of the SNB Governing Board - announced that there were no ambitions to issue a digital Swiss franc to end customers, as the risks outweighed the benefits.
With its level-headed stance and its adherence to the two-tier monetary system, the SNB is creating important prerequisites for the successful introduction of a digital franc by the private sector. It takes the agility, customer proximity and innovative strength of Swiss companies to create real benefits for end users. Namely, that added value that the conventional payment infrastructure – with transactions from account to account – cannot provide.
Making the national currency available in digital form is important for our country's innovative strength and competitiveness as well as for its monetary sovereignty. It would be fatal to leave this field to foreign providers. »
Alexander Bechtel
Pascale Bruderer
#swiss#CHF#digitalsovereignty#monetarysovereignty#digitalcurrencySwiss National Bank#digitalCHF#digitalswissfranc#cbdcs#centralbankdigitalcurrency#privatebanking#centralbanks#m2m#industry40#supplychainautomation#innovativebusinessmodels#payperuse#paymentsinnovation#paymentindustry#competitiveness#globalcompetition
In an article published in the Neue Zürcher Zeitung today, Pascale Bruderer and I argue in favor of a digital Swiss franc issued by the private (!) sector. We need the agility and client focus of the private financial industry to enable new use cases (micropayments, programmability, 24/7 availability, etc.) and to ensure a short time to market.
Switzerland should not leave the sovereignty over its domestic payment system to foreign infrastructure and payment service providers. It is all about creating a regulated offering from Switzerland for Switzerland.
https://lnkd.in/dsdhuAm6
The German banking industry commission Deutsche Kreditwirtschaft published their position paper and comments to the #EU Commission's Retail Investment Strategy. In particular with view to the proposed #prohibition of the acceptance or payment of fees from third parties in "execution only" transactions, #DK has valid arguments. This and other statements on the Strategy promise an interesting debate in the legislative process.
#RIS#CommissionBan#MiFID#executiononly