In a technical study published on 10 October 2025, the European Central Bank (ECB) analysed how limits on holding the potential digital euro, up to €3,000 per person, would affect the financial system. This technical study looked at the potential impact on bank deposits, liquidity (cash reserves), and overall bank profits.
Under normal, day-to-day conditions, the introduction of the digital currency is projected to have an extremely contained impact on banks’ cash and funding metrics. The analysis found that estimated deposit inflows (€127bn until 2034) resulting from the ongoing general shift toward digital payments may outweigh the potential outflows caused by the digital euro for limits up to and including €3,000. The resulting decline in bank profits is expected to be very small.
The analysis also tested a highly unlikely, extreme crisis scenario—a hypothetical flight to safety where everyone holds the maximum possible amount. In this stressed environment, the highest limit of €3,000 could lead to an aggregate deposit outflow of €699bn. However, even under this significant stress, banks’ aggregate cash reserve metrics remain well above 100% (the required minimum). Only a very small number of institutions, representing just 0.3% of the total banking sector assets, would see their cash buffers drop to the minimum required level.
The ECB concluded that these findings confirm that setting holding limits effectively restricts potential money movements to levels that safeguard the stability of the financial system. Small market lenders and retail lenders were identified as the business models most affected by potential outflows.