explained in the market, this will limit the possibilities of lending. Since the new form of money will be stored in the accounts of the regulator, and not credit institutions, banks will not be able to use such funds to issue loans. As a result, the number of loans issued will be forced to decrease and rates will rise, fears in the financial market. At the same time, the acceleration of settlements in digital rubles can make a positive contribution to GDP.
The flow of funds from bank japan cell phone number list accounts to digital rubles may lead to the banking sector's transition to a structural liquidity deficit. This is stated in the Main Directions of the Unified State Monetary Policy (DKP) for 2023 and the Period of 2024 and 2025, which Izvestia studied. The sector liquidity indicator shows the ratio of assets and liabilities of credit institutions: loans issued to the population and funds accepted from citizens for deposits and savings accounts.
The banking community has repeatedly drawn the attention of the Central Bank to the risks of introducing a digital ruble for liquidity, but the regulator has not previously acknowledged them, recalled the head of the National Council of the Financial Market (NCFM) Andrey Emelin.
— Since digital money will be stored in accounts at the Central Bank, and not in credit institutions, banks will not be able to use it for active operations. In particular, financial institutions will have a reduced base that they can use for lending. As a result, the number of loans issued will be forced to decrease and rates will rise. And the Central Bank will have to develop mechanisms for returning liquidity to the market, — he emphasized.
According to Andrey Emelin, the digital ruble is most promising for use to control budget expenditures (when making payments from the treasury) and for implementing cross-border transactions (including conversion into digital currencies of other countries), and these areas of project development will not affect liquidity.