When discussing different design options for a CBDC, the effects on the balance sheets of commercial banks as well as the central banks need our full attention. An outflow of deposits from the banking sector must be avoided, as well as sudden, uncontrolled shifts of bank deposits to central banks’ balance sheets.
Possible countermeasures could be, for example, maximum amounts or graduated interest rates, which could also result in negative interest rates above a certain level. But it should also be taken into account that acceptance of a CBDC could suffer if parameters were set without keeping an eye on the user experience.