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Monetary policy --- Money supply --- 333.130.2 --- 333.402 --- 333.823 --- AA / International- internationaal --- CG / Congo --- DE / Germany - Duitsland - Allemagne --- 336.74 --- Money stock --- Quantity of money --- Supply of money --- Money --- Demand for money --- 336.74 Geld. Geldwezen. Monetaire sector. --- Geld. Geldwezen. Monetaire sector. --- Monetary management --- Economic policy --- Currency boards --- Bankliquiditeit. Verplichte reserves. Solvabiliteit --- Geldschepping en geldvernietiging. Multiplicator van het krediet --- liquiditeitsbeleid.Kascoëfficiënten en liquiditeitscoëfficiënten --- Geld. Geldwezen. Monetaire sector

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The new boundary between publicly and privately provided payments systems and the role of collateral may be changing. Recent technological developments have made it feasible for markets and policymakers to contemplate abolishing physical cash, and replacing it with electronic alternatives like digital tokens. This paper focuses on two concepts: (i) privacy provision that results in increased awareness of and concern with problems of privacy in payments systems; and (ii) payment latency, and how the new fintech world is likely to result in reduced counterparty and interest rate risk for corporate treasurer. The paper ties these issues from the lens of collateral, especially the analogy of collateral reuse and digital tokens.

United States --- Banks and Banking --- Finance: General --- Money and Monetary Policy --- Industries: Financial Services --- Demand for Money --- International Financial Markets --- International Finance: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Finance --- Banking --- Monetary economics --- Distributed ledgers --- Payment systems --- Currencies --- Bank deposits --- Collateral --- Financial markets --- Money --- Financial services --- Financial institutions --- Central Bank digital currencies --- Technology --- Banks and banking --- Clearinghouses --- Loans --- Financial services industry --- Technological innovations

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The coronavirus pandemic is a global crisis like no other in modern times, and there is a growing apprehension about handling potentially contaminated cash. This paper is the first empirical attempt in the literature to investigate whether the risk of infectious diseases affects demand for physical cash. Since the intensity of cash use may influence the spread of infectious diseases, this paper utilizes two-stage least squares (2SLS) methodology with instrumental variable (IV) to address omitted variable bias and account for potential endogeneity. The analysis indicates that the spread of infectious diseases lowers demand for physical cash, after controlling for macroeconomic, financial, and technological factors. While the transactional constraints imposed by the COVID-19 pandemic could become a catalyst for the use of digital technologies around the world, electronic payment methods may not be universally available in every country owing to financial and technological bottlenecks.

United Kingdom --- Business and Economics --- Health and Fitness --- Banks and Banking --- Money and Monetary Policy --- Diseases: Contagious --- Diseases: Respiratory --- Organizational Behavior --- Transaction Costs --- Property Rights --- Demand for Money --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Central Banks and Their Policies --- Monetary Policy, Central Banking, and the Supply of Money and Credit: Other --- Health Behavior --- Interest Rates: Determination, Term Structure, and Effects --- Infectious & contagious diseases --- Monetary economics --- Finance --- Communicable diseases --- Currencies --- COVID-19 --- Deposit rates --- Ebola --- Health --- Money --- Financial services --- Interest rates --- Ebola virus disease