ECB economists suggest limiting access to the digitaleuro to protect commercial banks.
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank to €3,000 per person.Europeans’ access to a digital euro should be restricted to prevent a flight of capital from deposits at commercial banks, according to a report published by the European Central Bank.
The economists have tried to predict the impact of a central bank digital currency on Europe’s banking sector. In the absence of empirical data, they have taken into account public reactions to news about ECB’s plans to issue a digital version of the common European currency. The calculation comes after a previous suggestion that central bank digital currency accounts should be capped at €3,000 per person . That limit, proposed by ECB Board Member Fabio Panetta to ensure there is enough fiat money to support lending, sits approximately in the middle of the range, at 34%.
The ECB economists have partially based their analysis on public statements by European officials regarding the design of the digital euro. In June, Panetta said that maintaining the total digital euro holdings between €1 and €1.5 trillion would help avoid potential negative effects on Europe’s financial system and monetary policy.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sango - The First Digital Monetary System Built on Bitcoin – Press release Bitcoin NewsPRESS RELEASE. Sango, the Central African Republic’s crypto-initiative, has set off a wave of excitement in the crypto space, fuelling curiosity and
Weiterlesen »
Report: IMF Warns Kenyan Central Bank Against Introducing a CBDC That Harms Fintechs and Banks – Emerging Markets Bitcoin NewsAccording to the IMF, the CBK’s digital shilling paper must make clear that the proposed digital currency will 'do no harm.' digitalshilling cbk digitalfinance
Weiterlesen »
Iran Amends Regulations to Ease Crypto Miners’ Access to Renewable Energy – Mining Bitcoin NewsAuthorities in Iran have revised some rules for the crypto mining industry in order to facilitate its access to green power.
Weiterlesen »
Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims – Regulation Bitcoin NewsThe letter sent to Voyager Digital highlights that the company's FDIC insurance claims are false and misleading. Crypto Bankruptcy
Weiterlesen »
Foundry Digital Launches Logistics Arm to Advance Standards in the Cryptocurrency Mining Industry – Mining Bitcoin NewsFoundry, the subsidiary of DCG, announced the launch of Foundry Logistics in order to advance standards in the bitcoin mining industry.
Weiterlesen »
Goldman Sachs, JPMorgan Predict Euro-Area Recession – Economics Bitcoin NewsGoldman Sachs and JPMorgan have updated their economic forecasts and are now predicting an imminent recession in the euro area. inflation
Weiterlesen »