Nevertheless, issuing CBDC in normal times with the purpose of preparing for crisis could pose a new challenge. For example, if CBDC starts to substitute for bank deposits, it could squeeze banks' credit intermediation and affect the real economy. There is also the view that CBDC, which functions as a safe haven in times of stress, would rather amplify the stress.
In general, the financial sector is not developing in line with the economy as a whole, and plays no more than a limited role in the financing of local enterprises. The capitalisation rate of banks and share/bond markets in Poland and Hungary is less than a third that in the EU.