Policy Briefing: Wholesale Central Bank Digital Currency (CBDC) and UK Economic Security

In September 2023, The University of Manchester hosted delegates from government, the private sector and academia to examine the potential ramifications of adopting a RLN on UK economic security. They found that a UK Wholesale CBDC (or more accurately UK participation in a Regulated Liability Network [RLN]) presents a viable and important opportunity to improve the competitiveness of the UK’s financial services industry at limited cost or risk to the UK taxpayer. As well as benefiting the financial services sector, there is also significant potential economic security benefit related to the more effective regulation of financial markets through the adoption of a UK RLN.