Accessible Version
Comparing Means of Payment: What Role for a Central Bank Digital Currency?, Accessible Data
Graph 1: Value of currency in circulation, in billions as of December 31 of each year
Make Full Screen
Year | $1 | $2 | $5 | $10 | $20 | $50 | $100 |
---|---|---|---|---|---|---|---|
1998 | $7.0 | $1.2 | $8.0 | $14.3 | $90.9 | $50.5 | $320.1 |
1999 | $7.5 | $1.2 | $9.0 | $16.2 | $116.1 | $64.7 | $386.2 |
2000 | $7.7 | $1.2 | $8.9 | $14.5 | $98.6 | $55.0 | $377.7 |
2001 | $7.8 | $1.3 | $9.2 | $14.7 | $100.9 | $57.0 | $421.1 |
2002 | $8.0 | $1.3 | $9.4 | $14.9 | $103.7 | $58.5 | $458.7 |
2003 | $8.2 | $1.3 | $9.7 | $15.1 | $107.8 | $59.9 | $487.8 |
2004 | $8.3 | $1.4 | $9.8 | $15.1 | $107.6 | $60.6 | $516.7 |
2005 | $8.8 | $1.5 | $10.3 | $15.5 | $115.4 | $62.1 | $545.0 |
2006 | $9.0 | $1.5 | $10.5 | $16.0 | $119.2 | $62.8 | $564.1 |
2007 | $9.3 | $1.6 | $10.8 | $16.2 | $121.8 | $63.0 | $569.3 |
2008 | $9.5 | $1.7 | $11.0 | $16.3 | $125.1 | $64.7 | $625.0 |
2009 | $9.6 | $1.7 | $11.2 | $16.2 | $127.5 | $65.3 | $656.4 |
2010 | $9.7 | $1.8 | $11.5 | $16.6 | $130.6 | $66.9 | $704.6 |
2011 | $10.0 | $1.9 | $11.8 | $17.2 | $141.1 | $69.6 | $782.6 |
2012 | $10.3 | $2.0 | $12.2 | $17.7 | $148.9 | $72.5 | $863.1 |
2013 | $10.6 | $2.1 | $12.7 | $18.5 | $155.0 | $74.5 | $924.7 |
2014 | $11.0 | $2.2 | $13.1 | $18.9 | $162.2 | $76.9 | $1,014.5 |
2015 | $11.4 | $2.3 | $13.7 | $19.0 | $171.3 | $79.8 | $1,082.2 |
2016 | $11.7 | $2.3 | $14.2 | $19.2 | $177.2 | $83.5 | $1,154.8 |
2017 | $12.1 | $2.4 | $14.8 | $19.6 | $183.8 | $86.4 | $1,251.7 |
2018 | $12.4 | $2.5 | $15.3 | $20.1 | $188.5 | $89.2 | $1,343.5 |
2019 | $12.7 | $2.7 | $15.8 | $20.9 | $190.5 | $92.3 | $1,424.7 |
Note: currency denominations are displayed in order with $100 on the top and $1 on the bottom.
Source: Federal Reserve Board, https://www.federalreserve.gov/paymentsystems/coin_data.htm
Figure 1: Comparison of central bank payment mechanisms
Make Full Screen
Payment mechanism | Accessibility | Anonymity | Bearer instrument | Independence | Operational efficiency | Programmability | Service availability |
---|---|---|---|---|---|---|---|
Cash | 5.0 | 5 | 5 | 5 | 1 | 1 | 5 |
CBDC | 4.9 | 4 | 5 | 4 | 5 | 5 | 5 |
RTGS | 4.7 | 1 | 1 | 1 | 4 | 3 | 4.99 |
RTGS+ | 4.8 | 1 | 1 | 3 | 4 | 4 | 4.99 |
Figure 2: Cash-equivalent CBDC
Make Full Screen
Cash substitute | Accessibility | Anonymity | Bearer instrument | Independence | Operational efficiency | Programmability | Service availability |
---|---|---|---|---|---|---|---|
Cash | 5 | 5 | 5 | 5 | 1 | 1 | 5 |
CBDC | 4.9 | 4 | 5 | 4 | 3 | 3 | 5 |
RTGS | 4.7 | 1 | 1 | 1 | 4 | 3 | 4.99 |
RTGS+ | 4.75 | 1 | 1 | 3 | 4 | 4 | 4.99 |
Figure 3: Account-based CBDC
Make Full Screen
CBDC account | Accessibility | Anonymity | Bearer instrument | Independence | Operational efficiency | Programmability | Service availability |
---|---|---|---|---|---|---|---|
Cash | 5 | 5 | 5 | 5 | 1 | 1 | 5 |
CBDC | 4.9 | 3 | 1 | 4 | 5 | 5 | 5 |
RTGS | 4.7 | 1 | 1 | 1 | 4 | 3 | 4.99 |
RTGS+ | 4.75 | 1 | 1 | 3 | 4 | 4 | 4.99 |
Figure 4: Hybrid CBDC
Make Full Screen
Tiered CBDC structure | Accessibility | Anonymity | Bearer instrument | Independence | Operational efficiency | Programmability | Service availability |
---|---|---|---|---|---|---|---|
Cash | 5 | 5 | 5 | 5 | 1 | 1 | 5 |
CBDC | 4.7 | 1 | 1 | 3 | 5 | 5 | 4.99 |
RTGS | 4.7 | 1 | 1 | 1 | 4 | 3 | 4.99 |
RTGS+ | 4.75 | 1 | 1 | 3 | 4 | 4 | 4.99 |
Last Update:
April 12, 2021