Benefits: 1 It is more efficient and stronger to control the currency circulation in the market and implement the national monetary policy.

2. As the lender of last resort, the central bank provides important support for the modern banking system. It can give sufficient support to commercial banks in times of crisis to prevent bank runs and other events caused by panic.

3. Maintain public confidence in the banking industry.

Disadvantages: 1, disguised as currency, exacerbating inflation.

2. Violating market principles may lead to moral hazard of commercial banks.

That's what I think, personal opinion, I don't know if it's right. ...