No matter how tempting a sovereign money system sounds, many issues remain to be examined before considering a move towards narrow banking. For example, such a move could greatly impact 8  This process is known as the money multiplier effect. J. SMETS, “Fintech and Central Banks”, Rev. banc. fin., 2017/1, 11. 10 B. DYSON, G. HODGSON and F. VAN LERVEN, Sovereign money.
An introduction, Positive Money, December 2016, 4. 9  Keynote_Governor_AEDBF_30_Nov_2018_final.docx  4. the funding structure of commercial banks, something they are not indifferent to. Some opponents also point to the need to maintain a sufficient degree of credit growth in order to stimulate economic growth 11.