IP: E-money Report

[Dave Farber <farber () cis upenn edu>]

From: John Young <jya () pipeline com>
> From cypherpunks


Thanks to IG, we've put a copy of the BIS report on E-money at:


   http://jya.com/bis_emoney.html


Here's a blurb from the intro:


Implications for Central Banks of the Development of Electronic
Money


October 1996


Since the end of 1995 the central banks of the Group of Ten (G-10) 
countries have been studying the development of electronic money 
and the various policy issues which it raises. Much of this work 
has been carried out by the Committee on Payment and Settlement 
Systems (CPSS) or by monetary policy experts from G-10 central 
banks. Electronic money was discussed by BIS member central banks 
at meetings in Basle in July and September 1996. In August, the 
BIS published a report on the Security of Electronic Money 
prepared by the CPSS and the Group of Computer Experts.


This report provides a definition of electronic money and a 
description of its key features. It discusses the factors influencing 
the development of e-money products. Finally, it reviews the policy 
issues raised by e-money developments, as seen from a central bank 
perspective, and discusses the possible policy responses.



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