Big Techs vs Banks We study an economy in which large technology companies, big techs, provide credit to firms operating on their platforms. We focus on two advantages that big techs have with respect to banks: better information on their .. more BIS (2022-08-31) |
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The Financial Stability Implications of Digital Assets The value of assets in the digital ecosystem has grown rapidly, amid periods of high volatility. Does the digital financial system create new potential challenges to financial stability? This paper explores this question .. more FRB (2022-08-31) |
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Decentralized Finance (DeFi): Transformative Potential & Associated Risks Decentralized finance (DeFi) refers to a set of newly emerging financial products and services that operate on decentralized platforms using blockchains to record and share data. DeFi products and services are conducted .. more FRB (2022-08-30) |