> that applies to every bank in existence In practice this might be true, but I'm not sure every bank would have a multibillion dollar hole in its balance shee

> that applies to every bank in existence In practice this might be true, but I'm not sure every bank would have a multibillion dollar hole in its balance sheet if all customers withdrew their deposits. There's probably a point to be made that banks with large unrealized losses would lead to customers losing deposits, while banks with a positive net asset would not.