Hey everyone,
It has come to my attention that my connection between Bank of America experiencing an outage and the implementation of a new capital requirement are NOT connected. I made the assumption that customer deposits (which creates cash as an asset) were being factored into their risk weighted assets. However, this is NOT used to calculate capital requirements.
This means there is no connection other than these events occurring on the same day. I learned about this after speaking with u/Crippled-Mosquito. You can see our conversation here.
This was an act of me finding a source to confirm my prior post, without being as diligent as I have been in the past. There is no excuse for this, other than my own excitement. Obviously, I have removed the post because it contains more misinformation (and straight-up falsehoods) than anything else.
Kudos to u/Crippled-Mosquito for providing the wrinkle. I'm not able to see every comment or respond to every argument, so I'm very thankful for a sub that can keep pushing for the truth.
I'm sorry for dropping the ball, but I'll always own up to my mistakes.
Cheers
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