Ahhh we did this once but we can do it again. Its within the BANK THAT BOUGHT IT wherein the magic happens. (You are confusing individual banks with the banking system).
"I want to know where you got the idea that banks can somehow multiply their loans based on a different par number, even if the actual value of the 3 types of bonds is identical."
Hmmm I see you are having a problem with a definition you requested (to explain PAR) and the issue of values getting changed by repackaging such as happens in CDOs and other magic tricks.
So a bank that buys a corporate for $1000 can loan less than a bank that bought a Muni for $1000. The bank that bought the Muni can loan less than a bank that bought a T-Bill for $1000? And that has what to do with a CDO?
I see you are having a problem with a definition you requested
I have no problem with the real definition of PAR. I've never seen it used and you still haven't explained how it changes the amount a bank can loan.
and the issue of values getting changed by repackaging such as happens in CDOs and other magic tricks.
Values don't get changed by repackaging.
A market price of $200000 on a single mortgage is equivalent to a market price of $200000 on a slice of a packaged mortgage. They both allow an equivalent level of lending.