[BrandonS113]

You are conflating two things. Reserve requirements are not same as capital. And there is a modern capital requirement, as per Basel III, in effect since 2022. Capital historically was calculated very differently.

[eru]

> You are conflating two things. Reserve requirements are not same as capital.

I know. I never wanted to imply otherwise. What made you think so?

> And there is a modern capital requirement, as per Basel III, in effect since 2022. Capital historically was calculated very differently.

Yes, the rules change all the time. So there's a modern incarnation of capital requirements. But capital requirements in general aren't new.