For more information, see Euro Retail Payments Board (2022), Core, optional and value-added services for the digital euro, December. 10. See ECB (2020), Report on a digital euro, October. The scope of digital euro basic services is yet to be defined but should be similar in nature to the basic services that credit institutions are to provide under the Payment Accounts Directive (PAD).
Profits and Balance-Sheet Developments of Japanese Banks in Fiscal 1997  Overview Operating profits of Japanese banks in fiscal 1997 amounted to ¥ trillion, down by 14% from the previous fiscal year.1 This decrease was primarily due to the following factors: (1) the disappearance of a temporary increase in trust fees (income) of trust banks in fiscal 1996; (2) the modest fall in net interest income on domestic operations due mainly to narrowing interest margins; and (3) the slight decrease in gross profits on international operations as a result of the expansion of the “Japan premium” and the downsizing of overseas branches and subsidiaries.2 Transfer to the special loan-loss provisions (SLP) and loan write-offs including those in trust accounts3 amounted to ¥ trillion, which is almost the same figure as the peak recorded in fiscal 1995.4 Due to a considerable amount of transfer to the SLP and loan write-offs, both recurring losses ¥ trillion) and net losses ¥ trillion) marked record highs.5 Risk-based capital adequacy ratios at end-March 1998 at many banks exceeded those at endMarch 1997.