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Bank of Israel: Adoption of CBDC Will Not Materially Affect the Banking System

2022/03/05 08:40

According to News.bitcoin, Israel’s central bank says the public’s adoption of the digital shekel is not expected “to materially affect the banking system.” The bank, however, warns that any issuance of such digital currency will likely result in a decline of the volume of the public’s deposits. The bank’s analysis notes “the decline in the volume of the public’s deposits” held in banks following the issuance of digital shekel, would nonetheless lead to “some increase in the banking system’s interest expenses.” The same might also lead to an erosion of the banking system’s net profit, the BOI warned.
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