Arbeitspapier
Stablecoin assessment framework
We outline a three-step framework to investigate stablecoin arrangements and quantitatively assess their risk. The first step is to classify the stablecoin arrangement into three parts-coin structure, transfer system(s) and financial service(s) - and categorize the attributes of each part. The second step is to identify specific risk scenarios. The third is to quantify the range of probable loss and range of possible frequency associated with the identified risk scenarios. Our proposed framework allows authorities to understand the defining characteristics of stablecoin arrangements, to be specific about any concerns they may have, and to be objective in their treatment from issuer to issuer. Additionally, the process we are proposing ensures that authorities and the stablecoin issuer can come to a quantitatively based understanding about the potential risks. The main contributions we make are to separate stablecoins arrangements into three activity-based components and to apply an operational risk management approach to quantifying risks of stablecoins.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Staff Discussion Paper ; No. 2021-6
- Klassifikation
-
Wirtschaft
Positive Analysis of Policy Formulation and Implementation
Criteria for Decision-Making under Risk and Uncertainty
Financial Crises
General Financial Markets: Government Policy and Regulation
Technological Change: Government Policy
- Thema
-
Digital currencies and fintech
financial institutions
Financial system regulation and policies
Financial markets
Payment clearing and settlement systems
- Ereignis
-
Geistige Schöpfung
- (wer)
-
García, Alejandro
Lands, Bena
Yanchus, Dennis
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2021
- DOI
-
doi:10.34989/sdp-2021-6
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- García, Alejandro
- Lands, Bena
- Yanchus, Dennis
- Bank of Canada
Entstanden
- 2021
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