Source: Reuters (via feed)
UniCredit CEO Andrea Orcel said the digital euro will have a negative impact on banks’ liquidity and profit margins. He noted this effect is due to the digital euro taking away a portion of retail deposits. Retail deposits are a cheap source of funding for banks. Orcel stated he has a “relatively constructive” approach to the digital euro.
BizTrendWire Insight:
UniCredit’s CEO addressed the digital euro’s effect on banking liquidity and funding costs.
UniCredit’s CEO addressed the digital euro’s effect on banking liquidity and funding costs.
