The ECB “has decided to permanently stop producing the €500 banknote, taking into account concerns that this banknote could facilitate illicit activities” https://www.ecb.europa.eu/press/pr/date/2016/html/pr160504.en.html … (2016)
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“There was a jump in the level of the value of euro banknotes in circulation following the collapse of Lehman Brothers … Two-thirds of this additional demand – a large part of which came from abroad – was for €500 banknotes” https://www.ecb.europa.eu/pub/pdf/mobu/mb201104en.pdf … (p81)pic.twitter.com/CKr9F6YkJp
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“This distribution, whereby around two-thirds of the circulation value is held in the €50 and €500 denominations, is relatively close to that observed before the euro cash changeover for an equivalent value of Deutsche Mark denominations.” https://www.ecb.europa.eu/pub/pdf/mobu/mb201104en.pdf … (p82)pic.twitter.com/ye3DjlI0i0
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“When asked about how they obtained the high-denomination banknotes, 47% of respondents said that they withdrew them, 18% received them for the sale of goods or services, 12% received them as part of their salary, and 10% received them as a gift.” https://www.ecb.europa.eu/pub/pdf/mobu/mb201104en.pdf … (p85)
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“Around one-third of the banknotes in circulation at the end of 2008 were used for transaction purposes, while the rest were either used as vault cash, a store of value in the euro area or held abroad.” https://www.ecb.europa.eu/pub/pdf/mobu/mb201104en.pdf … (p89)
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Clemens Fuest: “With fewer €500 notes available, the banks might be even more likely to do what the European Central Bank wants them to do, which is lend money rather than sitting on it” https://www.nytimes.com/2016/05/05/business/international/ecb-to-remove-500-bill-the-bin-laden-bank-note-criminals.html …
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Eurozone banks stop issuing €500 notes, but cash-loving Germany delayshttps://www.dw.com/en/eurozone-banks-stop-issuing-500-notes-but-cash-loving-germany-delays/a-47253814 …
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Denmark is ignoring a request by the European Central Bank and moving to ban 500-euro notes, as the Nordic country toughens defenses against money launderershttps://www.bloomberg.com/news/articles/2019-04-04/denmark-ignores-ecb-to-ban-500-euro-note-in-dirty-money-battle …
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