政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/115946

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113656/144643 (79%)
Visitors : 51729691 Online Users : 691

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 法學院 > 法律學系 > 期刊論文 > Item 140.119/115946

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/115946

Title:	Promoting Financial Inclusion by Encouraging the Payment of Interest on E-Money
Authors:	臧正運 Tsang, Cheng-Yun Malady, Louise Buckley, Ross
Contributors:	法學院
Keywords:	e-money;commercial banks;central bank;payment of interest;regulators;market conduct regulation
Date:	2017-12
Issue Date:	2018-02-09 11:40:23 (UTC+8)
Abstract:	Funds equal to the amount of e-money issued are typically held on trust with commercial banks, and called the float. This paper analyses the policy options of a central bank in relation to the interest earned on the float. Despite e money being an established payment method, many regulators still find the issue of whether to permit the payment of interest on it to customers troubling. The prohibition of, or failure to encourage, such payments is retarding the growth of many DFS ecosystems. Regulators have far more policy options than they typically appreciate in this regard. As we explain, allowing interest payments does not make e-money equivalent to bank deposits because interest payments are not a defining feature of a bank deposit. Furthermore, allowing interest payments does not increase risks when, as is common, e-money providers are required to hold the float on trust with a prudentially regulated bank, or are only allowed to invest the float in very limited low-risk options. Furthermore, market conduct regulation can ensure adequate disclosure to customers such that customers are well aware of the risks of e-money. We present a number of policy approaches to promote the payment of interest to either providers or customers. Encouraging the payment of interest will promote digital payments and thereby improve financial inclusion and lift economic growth.
Relation:	UNSW Law Journal, Vol.40, No.4, pp.1558-1572
Data Type:	article
DOI 連結:	http://dx.doi.org/10.2139/ssrn.3002925
DOI:	10.2139/ssrn.3002925
Appears in Collections:	[法律學系] 期刊論文

Files in This Item:

File	Description	Size	Format
SSRN-id3002925.pdf		321Kb	Adobe PDF2	418	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...