ASN General Discussion, page-8703

Sounds about right.

It’s not like it isn’t a problem, clearly the cracks in the system have to start to show somewhere - but there’s other things that can be done to shore up liquidity and prevent contagion and I expect that to happen.

Now, if the bigger banks have gotten too greedy and played silly games with their assets to lever up their risk that could mean the problem spreads - I’m perhaps overly optimistic they haven’t done so as they have been through stress tests at the beginning of the tightening cycle.