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this is a defacto reduction in capital requirements no, if reserve requirements are lowered?Nope, though that's a reasonable assumption.
Reserve requirements regulate the fraction of deposits banks must hold at the central bank. Reserve requirements focus on liquidity.
Capital requirements regulate the fraction of assets banks must hold as equity (or other tiers of risk-absorbing capital). Capital reserves aren't held in a vault, and are more of an accounting fiction than reserves. Capital requirements focus on solvency.
Put another way, if half a bank's mortgages turn out to be shit, its total reserves won't change. It's total capital will.
So reducing reserve requirements could reduce banks' capital, if the freed reserves are dumped into risk assets. Or it could leave them virtually unchanged, if the freed reserves are dumped into safer assets. Systemically, if the freed reserves support a continuation of orderly payment systems, they could increase banks' capital by defending the value of their assets. (Bank balance sheets have a confusing circularity about them.)