Regulators should be paying more attention to the ballooning galaxy of nonbank financial institutions currently operating in global markets. The risks they pose to the financial system are not well ...
Accounting for unrealized market-value losses on banks’ securities and loan investments caused by the secular increase in interest rates that began in early 2022, I estimate that, as of September 30, ...
People seem eager to tell a story about private credit investments becoming a source of systemic risk in financial markets ...
The Bank of England is examining the potential for systemic risk in the $1.6 trillion private credit market. The rapid growth of the sector means policymakers are exploring a number of potential ...
Private capital markets are no longer a side story in global finance. Despite the sector’s insistence that it brings many benefits to the broader economy, the growing size of private capital markets ...
The collapse of Silicon Valley Bank has created a modicum of urgency for regulators and others to search for potential sources of systemic risk in our financial markets. While most of these efforts ...