[malermeister]

There's another, more meaningful difference: In the EU, all banks are subject to Basel III. In the US, only large, international ones are.

SVB wasn't.

> When the Fed implemented Basel III in October 2020, they took advantage of the fact that strictly speaking, the Basel Accords are only internationally agreed to apply to “large, internationally active” banks. While most jurisdictions apply the Basel rules to their entire banking system anyway, the US has a strong and powerful community bank lobby, and US community banks are usually quite aggressive in their use of the borrow-short/lend-long business model.

https://www.ft.com/content/c95e7708-b903-405d-a017-963844eb3...