A member of the European Central Bank’s board has said the premise of members of the public holding bank accounts at central banks requires a more “thorough discussion”.

“In a not so distant future, universal reserves could enable people to hold a central bank liability comparable to cash without the risks associated with commercial money,” Benoît Cœuré said.

However, he went on to say there are currently “no clear benefits” to allowing the general public to hold digital central bank reserves