f. Contents

return to Front Matter

Cover Letter

Cover Letter

I. Front Matter

a. Cover Page

b. Legal Responsibility

c. Summary of Changes

d. Abstract

e. Copyright Notice

g. About Content Providers

h. Preface

I. Front Matter

II. Main Document

1.0 Introduction

1.0 Introduction

2.0 Methodology

2.0 Methodology

3.0 White Paper Analysis

3.0 White Paper Analysis

4.0 Common Elements

4.1 Stakeholders

4.2 Currency Models

4.3 Stablecoins

4.4 National Privacy Considerations

4.5 National Security Considerations

4.6 International Considerations

4.7 Dual Payment Networks

4.0 Common Elements

5.0 Questions and Responses

5.1 Benefits, Risks, and Policy Considerations

5.2 Design

5.0 Questions and Responses

6.0 Recommendations

6.01 Elaborate the Newly Known Risks

6.02 Move from Desirements to Requirements

6.03 Establish a Consortium

6.04 Formally Define Stakeholders

6.05 Formally Define Non-Functional Requirements

6.06 Formally Define Functional Requirements

6.07 Refine Applicable Laws and Regulations

6.08 Instill Confidence in the CBDC

6.09 Baked-in Security

6.10 Adopt a Model-Based Systems Engineering (MBSE) Approach

6.11 Perform Research Development Test & Evaluation (RDT&E)

6.0 Recommendations

6.12 Defining the Appropriate Standards or Specifications

II. Main Document

III. Appendices

Appendix A: Acronyms

Appendix A: Acronyms

Appendix B: Glossary

Appendix B: Glossary

Central Bank Digital Currency (CBDC)

Central Bank Money

Commercial Bank Money

Consumer Privacy

Financial Crimes

Identity-verified

Intermediated Model

Nonbank Money

Privacy-Protected

Real-Time Payments (RTP)

Transferable

Appendix C: Other Transaction Authority (OTA)

Appendix C: Other Transaction Authority (OTA)

Appendix D: Model-Based Systems Engineering (MBSE)

III. Appendices

V. Administrivia

Change Log

Parking Lot

V. Administrivia

OMG's CBDC Working Group's Response to Federal Reserve Discussion Paper