March 2021

Global Stablecoins: Financial Policy Implementation Concerns from the U.S. Perspective

Matthew Malloy and David Lowe

Summary:

This point to explores the aptitude outcomes of the frequent adoption of a world stablecoin (GSC) on key mixture monetary sector stability sheets sms lån på minuttetin the US. To try this, we plot out money flows of GSC transactions among monetary sector entities the exercise of a stylized impart of ‘t-accounts’. By inspecting these particular particular person transactions, we infer mixture and compositional outcomes on U.S. industrial banking sector and Federal Reserve stability sheets. Thru this lens, we also steal into chronicle how these stability sheet changes might per chance well also have an effect on monetary coverage implementation, the query for central bank reserves, and the marketplace for U.S. dollar protected assets.

DOI: https://doi.org/10.17016/FEDS.2021.020

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March 22, 2021

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