By Maxwell Fry, director of the Bank of England’s Centre for Central Banking Studies (CCBS)
In this article, Maxwell Fry, director of the CCBS, summarises one aspect of the research conducted at the CCBS as part of its first academic workshop and project. This started with a one-week academic workshop on payment and settlement issues in January 1998, attended by participants from 22 central banks as well as international experts in the subject. After the workshop, six participants—three foreign central bankers and three Bank of England staff—assembled to plan a research programme for the ensuing ten weeks. The research built on the ideas presented at the academic workshop, as well as the specific interests of the team members. The results of the project research were first presented at a conference in March, which was co-hosted by the CCBS and the ESRC-supported Money, Macro and Finance Research Group. The project output also formed the basis for a report prepared for the Bank's 1998 Central Bank Governors’ Symposium in June. Routledge will publish the final project output in April 1999.
Risk, cost and liquidity in alternative payment systems