Private credit is now so intertwined with big banks and insurers that it could become a “locus of contagion” in the next financial crisis, a group of economists, bankers and US officials has warned.
Researchers from Moody’s Analytics, the Securities and Exchange Commission and a former top adviser to the Treasury Department found private credit funds have become enmeshed with the banking system, creating “new linkages [that] introduce new modes of systemic stress”.
“Their opaqueness and role in making the financial network more densely interconnected mean they could disproportionately amplify a future [financial] crisis,” the group said on Tuesday in a study published by Moody’s Analytics.
您已阅读20%（696字），剩余80%（2770字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。