This paper delves into the relationship between the issuance of Central Bank Digital Currencies (CBDC) and the likelihood of banking panic. The issuance of CBDC acts as a disturbing shock that incentivizes depositors to withdraw all/part of their deposits from the commercial banks, to swap it for CBDC which are offered by the central bank. We determine a variety of tools that central banks can use in order for the issuance of CBDC to act as a stabilizing factor of the banking system (by reducing the likelihood of banking panic).

中文翻译：

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CBDC 的发行能否降低银行业恐慌的可能性？1

本文深入研究了中央银行数字货币（CBDC）的发行与银行恐慌的可能性之间的关系。CBDC 的发行作为一种令人不安的冲击，激励储户从商业银行提取全部/部分存款，将其换成中央银行提供的 CBDC。我们确定中央银行可以使用的各种工具，以便发行 CBDC 作为银行系统的稳定因素（通过降低银行恐慌的可能性）。