美联储：货币与支付-数字化转型时代的美元（33页）.pdf

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1、RESEARCH & ANALYSISMoney and Payments: The U.S.Dollar in the Age of DigitalTransformationJanuary 2022BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEMThe Federal Reserve System is the centralbank of the United States. It performs fivekey functions to promote the effectiveoperation of the U.S. economy

2、 and, moregenerally, the public interest.The Federal Reserve conducts the nations monetary policy to promote maximum employmentand stable prices in the U.S. economy; promotes the stability of the financial system and seeks to minimize andcontain systemic risks through active monitoring and engagemen

3、t in theU.S. and abroad; promotes the safety and soundness of individual financial institutionsand monitors their impact on the financial system as a whole; fosters payment and settlement system safety and efficiency throughservices to the banking industry and U.S. government that facilitateU.S.-dol

4、lar transactions and payments; and promotes consumer protection and community development throughconsumer-focused supervision and examination, research and analysis ofemerging consumer issues and trends, community economic developmentactivities, and administration of consumer laws and regulations.To

5、 learn more about us, visit www.federalreserve.gov/aboutthefed.htm.ContentsExecutive Summary. 1Background . 1Key Topics . 2Public Outreach . 2Introduction. 3The Existing Forms of Money. 5The Payment System. 7Recent Improvements to the Payment System . 7Remaining Challenges for the Payment System . 8

6、Digital Assets. 11Central Bank Digital Currency. 13Uses and Functions of a CBDC . 14Potential Benefits of a CBDC . 14Potential Risks and Policy Considerations for a CBDC . 17Seeking Comment and Next Steps. 21CBDC Benefits, Risks, and Policy Considerations . 21CBDC Design . 22Appendix A: Federal Rese