Abad, Jorge; Nuño, Galo; Thomas, Carlos - 2024
, the reduction in deposits is absorbed by an almost one-to-one fall in reserves at the central bank, implying a transition … from a "floor" system -with ample reserves- to a "corridor" one. For larger CBCD adoption, the loss of bank deposits is … compensated by increased recourse to central bank credit, as the corridor system gives way to a "ceiling" one with scarce reserves. …