And further:

"The setting (i.e. “calibration”) of the holding limit will entail striking a balance between an optimal user experience and the need to maintain price stability and financial stability. Although the holding limit for the digital euro would be set closer to its possible launch date (to ensure it reflects the economic conditions at that time), the ECB has started work on a calibration methodology, which entails a comprehensive monetary and economic assessment aimed at balancing the objectives set out in the draft legislation: to make the digital euro a widely used means of payment and to protect financial stability and the transmission of monetary policy. A dedicated workstream involving ECB experts, with support from the national central banks and national competent authorities, has begun identifying the key factors influencing calibration and defining a coherent methodology that takes these factors into account. The assessment will include an analysis of the possible impact of the digitalisation of payments on the demand for banknotes, since banknotes and digital euro would have indistinguishable effects on bank liquidity. The ECB has also launched a data collection exercise with major banks to obtain the granular data required to perform the assessment."