In theory, such banks should be immune to runs, because the interbank market is supposed to be extremely efficient, and risk would be shifted to investors willing to bear it. Deposits would be replaced by mutual funds, which, as we know, are also immune to runs, and the risk of structured investment vehicles (SIV’s) would be assessed accurately by rating agencies.
从理论上讲，这样的银行不会出现挤兑，因为银行间市场应该极为高效，而风险会被转移到愿意承担的投资者那里。存款会被共同基金取代，而后者如我们所知，也不会出现挤兑。结构性投资工具(SIV) 会被评级机构精确评估。所有这些金融设计都能够规避束缚银行经营的、过时的资本要求。