The other difference is that loaning out to unconnected parties /= selling the tokens and keeping the uncollateralized bit as profit. Banks with outstanding loa

The other difference is that loaning out to unconnected parties /= selling the tokens and keeping the uncollateralized bit as profit. Banks with outstanding loans might have issues with the timing of repayments, they might more rarely make so many bad loans that their expected future income is less than they loaned out, but they haven't simply pocketed the money depositors paid in.