The third and most prominent change, which concerns the ECB’s central banking activities, is the introduction of an EU-wide limit to payments in cash. This type of measure has so far only been implemented at the level of individual Member States by means of national legislation. In the past the ECB has opined on a number of such national legislative measures.
The legislative package published by the Commission consists of four legislative acts. The ECB was consulted on most elements of the legislative package by the European Parliament and the Council in October 2021. The ECB Governing Council recently adopted and published its opinions on all four elements of the package.