Digital money already exist in Denmark Deposit guarantee, full access to bank accounts and instant transfers  12
2  BIS Review 8/2009  As already underlined on the occasion of previous hearings in front of you, this calls first for much more transparency, without any consideration of vested interests; second for much less short-termism in the decision-making processes, contrary to the most recent trends; and third for a systematic elimination of the procyclical aspects of our regulatory, prudential, accounting and taxation rules, which are amplifying considerably the fluctuations that are inherent in the functioning of market economies.