Forget Stablecoins
Burkhard Drees and
Sunil Sharma | 2 June 2026
Monetary,
Commentary | Tags:
CBDC,
Central Banks,
Financial Governance,
Stablecoins Modern banking systems are inherently fragile because they assign to private institutions the contradictory tasks of simultaneously creating money and financing risky lending. Digital innovation amplifies this fragility: stablecoins introduce new layers of runnable instruments, while digitization accelerates financial panics.
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Financial Resilience in an Age of Environmental Change: Central Banks and Financial Regulators Feel the Heat
Sunil Sharma | 16 October 2024
Monetary,
Policy Briefs | Tags:
Climate Risks,
Financial Governance,
Financial Supervision,
Macroprudential Policy,
Systemic Risks In an era of chronic and acute disruptions, durable price and financial stability will require not just accounting for financial hazards, but also engaging in promoting a structural transition. With time running out and the world approaching critical ecological thresholds, central banks and financial regulators
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