Moreover, given the prevailing assumption that public debt was risk-free, banks were not bound by the usual rules against “large exposures”: they could accumulate as much exposure to any one government as they wanted.
Además, dado el principio predominante de que la deuda pública no entrañaba riesgo, los bancos no estaban sometidos a las normas habituales contra los "grandes riesgos”: podían acumular todo el riesgo correspondiente a cualquier Estado que quisieran.