But it could also result in risk building up outside regulated markets if it were used to disintermediate financial institutions. Moreover, the emergence of different DLT specifications could lead to fragmentation within the euro area payments system​.
New Basel III standards will start to be introduced from January 20151 with the Liquidity Coverage Ratio (LCR), to be followed in January 2018 by the Net Stable Funding Ratio (NSFR).