However, this new joint responsibility for the resolution of banks also means that risks from the respective national private sector might be shifted to the community. This could be in the form of legislative measures which deteriorate the risk positions of banks in favour of their national debtors.
20 In downturns, by lowering the remuneration of the digital currency the central bank could spur banks to reduce deposit rates; it could push them below zero (assuming that cash would no longer be available), improving its capacity to stimulate the economy in extreme conditions without necessarily resorting to unconventional measures.