Any regard is a really low standard, minimal is more accurate. You don’t end up with nice round numbers like 20% which never change from calculating some formula.

If you look between countries you would see that it‘s usually around 15-25%. So it‘s around 20%, almost everywhere.

The global range is wider than that and reflects the reasonable range of this kind of regulation. If it’s say 75% then what’s the point of a loan? On the other hand if it’s 1% what’s the point of the regulation?

Regulators are basically picking a number between 3.5% to 35% and 20% is a nice round number in the middle of that range.