They cannot hold to maturity. Because you cannot offer your depositors 1.45% on deposits when their best alternative is 4.5-5% in risk free money market funds a

They cannot hold to maturity. Because you cannot offer your depositors 1.45% on deposits when their best alternative is 4.5-5% in risk free money market funds and treasury bills. Depositors won't just sit there and watch 6%+ inflation eat away at the real value of their deposits. The assets are correctly priced and bond losses are real.