In a resolution situation it would then have been possible for perform bail-in on uncollateralised liabilities to a sufficient extent to ensure the operation of the mortgage bank and the value of the SDOs – thereby supporting confidence in the mortgage credit system. And the Danish mortgage credit model would not have acquired yet another element that is not in conformity with the market.
While openness to global competition is crucial to foster innovation, excessive dependency on foreign private or public digital means of payment and technologies could lead to adverse effects. These relate, for example, to the ownership of critical data, or issues of traceability in the fight against money laundering, terrorist financing and tax evasion.