And if the banks pledge all their assets to institutional lenders of various sorts, we might worry whether there is anything left to pay us back with.

BBC: Business

The University of Wales Council announced Adduned Cymru - The Wales Pledge - on Monday to ensure that the assets it holds will continue to benefit the whole of Wales both before and after the merger.

BBC: University of Wales: Trusts formed to protect assets

And since the assets you've pledge would be worth considerably more than the loan, that risk of the so-called counterparty collapsing isn't worth taking.

BBC: Where to find bank stress