And that's why this collapse will continue. Because they're all playing this irresponsible shell game.
You might try to claim that it's okay because that's just how it is, but that's hardly a decent argument given that the results sure aren't going your way.
If you think any bank is holding 100% cash reserves or equivalents, you need a straitjacket and a padded room.
They're holding 40-50% cash, then the rest in bonds, just like FRC.
And that's why this collapse will continue. Because they're all playing this irresponsible shell game.
You might try to claim that it's okay because that's just how it is, but that's hardly a decent argument given that the results sure aren't going your way.