The digital euro has one thing in retailer for each stakeholder, Banque de France Governor Francois Villeroy de Galhau advised industrial bankers on June 22. Disintermediation shouldn’t be occurring, he stated. stated on the World Convention of Official Establishments organized by the French multinational financial institution BNP Paribas (OTC:).
Earlier than discussing the central financial institution digital foreign money of the euro (CBDC), Villeroy de Galhau started by explaining why the banking disaster at first of the yr didn’t have an effect on the euro zone. He credited European regulation and supervision with holding his banking system protected. He famous, nonetheless, that UBS’s acquisition of Credit score Suisse “raises new questions” a few dependable decision to the disaster. “The framework for the ECB to offer ‘Eurosystem decision liquidity’ has not but been constructed,” he stated.
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