To be able to do so, macroprudential regulation explicitly takes into account the interlinkages between financial institutions and financial markets as well as the procyclicality of the financial system.
Even before the coronavirus pandemic struck, the share of transactions settled in cash was in slow but steady decline. That downturn then gained traction as the pandemic played out. Recent analyses indicate that the trend towards cashless payments will continue, but not at the same pace as during the pandemic.