Bank of Canada deputy who spearheaded digital currency efforts won't seek second term

Carolyn Wilkins will not seek a second term in her role as senior deputy governor of the Bank of Canada, the organization's board of directors announced Thursday. 

Wilkins has served as senior deputy governor since May 2014 and is the first woman to hold the position.

Those who have followed the Bank of Canada's digital currency efforts since its inception — particularly around Project Jasper — will recall Wilkins's key role in that process. Back in 2017, she penned an op-ed on the initiative in which she wrote about the challenges and opportunities in utilizing the technology in the central bank context. In 2019, she co-authored a paper on central bank digital currencies, sharing her perspective in an area that would later be explored by a range of institutions worldwide. 

Digital currencies formed one part of Wilkins's remit at the Canadian central bank, during which she led its economic and financial research efforts. She has also played a significant role in the decision-making process around monetary policy and financial system stability, particularly during the pandemic. 

“It has been a great honor and privilege to serve Canadians in this role, and throughout my 20 years at the Bank,” Wilkins said in the announcement. “My time at the Bank has been the most fulfilling period of my career – a testament to the many dedicated and talented colleagues, both at home and abroad, that I have been fortunate to work with.”

Wilkins's term will end on May 1, 2021.