How many cocoa beans would a loaf of bread cost? What about a pair of shoes? In the past, objects really were used as a means of payment in some parts of the world. For example, the Mayans, one of the oldest cultures in Central America, traded cocoa beans for food and clothing. In the third part of our series from the Money Museum, presenter Silviana Ursu takes a look at what constitutes money and the ways we pay today. 

The NGFS released a report entitled “Adapting central bank operations to a hotter world: Reviewing some options” which assesses nine options available to central banks to factor climate-related risks into their operational framework. Sabine Mauderer, Chair of the NGFS’ “Scaling-up green finance” workstream and executive board member of the Deutsche Bundesbank: “Central banks ought to be aware of climate risks for the integrity of their balance sheets. Even more so, they should get ready to respond to such risks swiftly and with determination. Our report is a great blueprint to support central banks in making strategic choices on how to reflect climate risk in their monetary policy operations.” 

Deutsche Bundesbank together with Deutsche Börse Group and Germany’s Finance Agency have developed and successfully tested a settlement interface for electronic securities. Securities settlement using distributed ledger technology (DLT) is performed with the aid of a trigger solution in TARGET2.