On the one hand, I get this. On the other hand, what's the point of reserve requirements if you're not allowed to use them in bad times.https://twitter.com/zachperret/status/1239310756702597121 …
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Replying to @antoniogm
Matt Levine had a good write-up on this. If you need to have ten and now something happened and your ten became eight (or 2), you're still solvent. And if we're going to yell at people for having 8 instead of 10 in the middle of the crisis, that feels incorrect.
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Replying to @poiThePoi @antoniogm
apparently uk has had zero reserve requirements for like 40y
9:35 PM - 15 Mar 2020
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