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Speech
The Economic Outlook and the Role of Credit Intermediation
Remarks by Charles L. Evans, President and Chief Executive Officer,Federal Reserve Bank of Chicago Chartered Financial Analysts Society of Chicago Lunch Mid-America Club 200 East Randolph Street Chicago, Illinois
Working Paper
Stablecoins: Growth Potential and Impact on Banking
Stablecoins have experienced tremendous growth in the past year, serving as a possible breakthrough innovation in the future of payments. In this paper, we discuss the current use cases and growth opportunities of stablecoins, and we analyze the potential for stablecoins to broadly impact the banking system. The impact of stablecoin adoption on traditional banking and credit provision can vary depending on the sources of inflow and the composition of stablecoin reserves. Among the various scenarios, a two-tiered banking system can both support stablecoin issuance and maintain traditional ...