[skeeter2020]

Three things I can see:

1. way more deposits than they historically managed, with no-where good to put it.

2. failure to do what banks do, which is arbitrage their position, putting a huge amount into long-term low interest bonds

3. looking for loopholes in liquidity & stress tests, and reporting exemptions that might have raised earlier alarms

#3 is inexecusable but the other points are in the "bad at your job" category.