Central Bank of the Future

Central Bank of the Future

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Our Impact

Central Bank of the Future

Central banks play important roles in monetary policy, financial sector supervision, and payment systems. Central bank policies can play critical roles in whether the financial system advances financial inclusion. As technology continues to change...

Barr and Harris call for more inclusive payments systems

Oct 26, 2020
Ford School Dean Michael Barr and professor of practice Adrienne Harris say the technologies  of the “payments revolution,” which enable people to make payments and access bank accounts more easily, can also lead to greater financial...
What if?

The Central Bank of the Future and Financial Health

Jun 5, 2020
Note: As part of the Central Bank of the Future research project, we asked a few people to help us think big in reimagining the Central Bank of 2070. What underlying assumptions would have to change to foster economic inclusion? This post is the...

Central Bank of the Future

Oct 2-3, 2019, 4:00-5:15 pm EDT
Palmer Commons Great Lakes Room and Auditorium
Traditionally, central banks have served three policy functions – monetary policy, payments systems oversight, and financial institution supervision. This conference will convene international experts and practitioners to examine how these core functions contribute to financial inclusion, poverty alleviation, and a more inclusive economy – and what could be improved. The conference contributes to a research initiative undertaken by the University of Michigan’s Center on Finance, Law & Policy, in partnership with the Bill & Melinda Gates Foundation to consider how the role of a central bank could evolve in the future and enable central banks to make greater contributions toward financial inclusion. Ultimately, the research intends to identify technologies, processes, or tools that could benefit a central bank in supporting public policy objectives related to inclusion, and consider whether other sectors, including philanthropy, might have a role to play in supporting the development of those tools.  Registration to the event is free. Speakers and attendees will include individuals from  standards-setting bodies, central banks and other financial regulators, and policymakers, as well as futurists and technologists, and other financial ecosystem stakeholders. For more information visit http://financelawpolicy.umich.edu. 
Ford School
Central Bank of the Future

Redefining Financial Inclusion

“Financial inclusion in India is soaring,” reads a 2019 headline from the World Economic Forum. The article is rife with promising statistics. In just seven years, the number of Indian citizens holding a bank account increased from forty to eighty...
Central Bank of the Future

Working Paper #5: Central Banks as Utilities?

January 28, 2021
Ryan Bernard, Ashton Smith
In June 2020, the University of Michigan Center on Finance, Law & Policy held a virtual Roundtable for the Central Bank of the Future Project. This event explored whether central banks could provide services in the following areas: real time...
Central Bank of the Future

2020 Financial Inclusion Mandates Among Central Banks (Worldwide)

January 24, 2021
This open source dataset created by the University of Michigan Center on Finance, Law & Policy. Designed to contribute to an international perspective, this original dataset identifies which central banks around the world have made financial...
Central Bank of the Future

Working Paper #4: 2019 Conference Summary

March 20, 2020
Malika Begum
This paper provides a summary of the Center on Finance, Law & Policy's conference held on October 2-3, 2019 at the University of Michigan called The Central Bank of the Future. The conference brought together distinguished Central Bank Governors,...
Central Bank of the Future

Introductory Project Brief & Overview

December 3, 2018
Adrienne A. Harris, Michael S. Barr
This paper was drafted at the inception of the Central Bank of the Future research project as a brief memo and overview of ideas. It is intended to provide background supporting the project’s intent and importance. The brief details the approach...
Financial Inclusion

Central Bank of the Future

December 2018 - June 2021
Michael S. Barr, Adrienne A. Harris
In partnership with the Bill and Melinda Gates Foundation, this project explores the mandate and design of central banks to consider whether they might play an even stronger role in promoting financial inclusion, financial health, and a more inclusive...

What If...?

In support of the Central Bank of the Future research project, Principal Investigators Michael S. Barr and Adrienne A. Harris invited a few people to think big by asking this question: What might the Central Bank of 2070 look like? Here are some of...