The money at the core of modern economies is central bank money. Central banks inject money into the economy, via banks acting as intermediaries, against collateral. Thus, if money is power and money is issued against collateral, it stands to reason that it is important to understand the nature of that collateral and the terms of the exchange. Yet remarkably little is known about this and the matter is largely shrouded in opacity. Swiss Finance Institute Professor Kjell G. Nyborg unpacks this “open secret” of central banking in his new book Collateral Frameworks: The Open Secret of Central Banks and discusses its implications for the financial system, the economy, and society.

We invite you to join us and to learn more about this open secret of central banking in an event featuring Mickael Benhaim, Pictet Asset Management; Dr. Andréa M. Maechler, Swiss National Bank; and Prof. Nyborg himself, Swiss Finance Institute & University of Zurich. The panel participants will share their views on this topic and discuss the possible consequences for society and for Switzerland. The panel will be moderated by Maren Peters, Economics Editor SRF Radio.

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The presentation will be in English and attendance is free of charge. Registration is mandatory.