Yes, and government banking regulations seem to have been almost entirely focused on credit risk rather than duration risk because they were focused on the last

Yes, and government banking regulations seem to have been almost entirely focused on credit risk rather than duration risk because they were focused on the last crisis - banks were effectively actively penalised for keeping their money in higher credit risk but lower duration risk investments like corporate bonds instead of minimal credit risk but high duration risk ones like long-term treasury bonds and government-backed MBSes. There's been an entire wave of articles in the left-leaning parts of the press blaming this all on libertarians and corporations convincing the government to lift regulations created in the wake of the 2008 crisis and causing a repeat of it by doing so that just completely ignore this distinction.