This is my first post so please be gentle.  

I saw Raoul's tweet about Central Bank Digital Currencies and read the DoubLine Capital piece below.  

https://doubleline.com/dl/wp-content/uploads/The-Pandoras-Box-of-CB-Digital-Currencies-October-2020.pdf 

It makes complete sense where Central Bankers want to go.  One thing I'm hung up on is why don't the big banks see the writing on the wall and ease their lending standards?  I would think Central Banks could even take a page from the Japanese playbook and start issuing window guidance.  Are banks in denial, stuck between a rock and hard place or something else?