Looking ahead, some thought could also be given to the possibility of introducing limits on the concentration of sovereign bonds in bank portfolios, without distinguishing among sovereign debtors and in any event with a sufficiently high 13  See M. Cioffi, P. Rizza, M. Romanelli and P. Tommasino (2019), ‘Un fondo di ammortamento del debito dell’area dell’euro: cos’è, perché costruirlo, come progettarlo’, Rivista di Politica Economica (forthcoming).
While banks support FinTech firms' payment services by providing them with real-time account transfer service, they act as acquirers themselves and seek out merchants who will join payment platforms operated by the banking industries. However, since FinTech firm and bank payment platforms lack interoperability, none of these platforms is likely to grow significantly, making it difficult for banks to recoup their investments.