BIS_sez

[John Young <jya@pipeline.com>]

   11-18-96. FiTi:

   "Electronic money threat to central banks"

      A report issued today by the BIS says that innovations
      such as "electronic purses" or "digital cash" used over
      the Internet could erode central banks' income.
      "However, if issuance of e-money is limited to banks,
      the regulatory framework already in place can be
      extended to cover the new products, but competition and
      innovation might be more limited."

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   BIS_sez