Thirdly, empowering law and gathering intelligence by themselves are not sufficient. Enforcement of the law is a challenge. This is primarily because of the various agencies involved in regulating the non-banking financial activities of entities.
b) Management of such an account will be delegated to private banks. In other words, the ECB doesn't want to manage hundreds of millions of deposit accounts and with them the duty to manage credit transfers and customer enquiries and to know customers and comply with anti-money laundering rules and the like.