Does the payment system need esf

Reference no: EM133319161

Question: Imagine a hypothetical world in the future where households and businesses do not have bank deposits in banks but hold an account at the central bank instead, through which they own central bank digital currency (CBDC).

In that new world, banks do not offer deposits but still provide loans. In that new world, does the payment system need ESF?

Reference no: EM133319161

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