The White House Council of Economic Advisers said banning interest and yield payments on stablecoins would shift about $54.4 billion from the roughly $300 billion stablecoin market into bank deposits, but increase total bank lending by only about $2.1 billion, or 0.02% of loans. Community-bank lending would rise by about $500 million, or 0.026% of community-bank loans, while large banks would receive 76% of the additional lending. The CEA estimated an annual consumer-welfare loss of about $940 million from removing stablecoin yield, compared with roughly $140 million in lending benefits, producing a net loss of about $800 million. It said reserves invested in U.S. Treasuries and similar assets can recirculate into deposits, limiting any effect on lending. Lending would rise by $531 billion, or 4.4%, only under simultaneous extreme assumptions, including a $1.7 trillion stablecoin market, fully locked cash reserves and an end to the Federal Reserve's ample-reserves framework.