These initiatives sometimes seem to go beyond the idea of a central bank bringing its settlement services on DLT and maybe they could alter or even call into question the role the central bank currently plays as operator. Some initiatives allocate the role of a "notary" to the central bank – controlling the amount of central bank money circulating in a DLT environment.
The analysis will be published in our annual publication "Financial stability", which will be issued on 12 May. The analysis exclusively considers effects on interest costs without incorporating the mortgageable values. The higher the homeowners' incomes, the lower their interest burden, i.e. interest expenses as a ratio of gross income.