Cash Reserves Rise Amid Fears of Wars, Cyberattacks and Disasters

According to data from the European Central Bank (ECB), the value of banknotes in circulation has seen an increase, rising from approximately 1 billion euros in 2016 to 1.6 billion euros as of June 2026.

This trend is attributed to growing concerns about wars, fires, floods, and cyberattacks, which have prompted authorities to advise citizens to maintain basic cash reserves. The ECB's chief economist, Philip Lane, noted that while the use of banknotes in everyday transactions may be declining, the total number of banknotes held in circulation continues to grow.

Experts emphasize that having cash on hand is essential not only for crisis situations but also for individuals with limited access to digital banking services. The ECB views cash as an important element of national crisis preparedness and recommends maintaining an accessible network of ATMs across Europe.