11-18-96. FiTi: "Electronic money threat to central banks" A report issued today by the BIS says that innovations such as "electronic purses" or "digital cash" used over the Internet could erode central banks' income. "However, if issuance of e-money is limited to banks, the regulatory framework already in place can be extended to cover the new products, but competition and innovation might be more limited." ----- http://jya.com/bissez.txt BIS_sez