7/9  BIS central bankers' speeches  According to ECB estimates, households in the euro area have amassed more than € billon in extra savings, over and above the normal saving rate. This represents just over 7% of annual disposable income – an enormous sum. That is certainly good news for firms and the economy.
The high costs for the implementation of the more advanced systems will discourage a number of banks. In a study conducted by PriceWaterhouseCoopers for the European Commission, the implementation cost in Europe was estimated at about € 20-30bn, with individual banks spending € 30 - 150 m, depending on their size, sophistication and approach used.