Private credit is rapidly gaining traction, prompting over a dozen major banks to form partnerships with private credit firms despite being traditional competitors in lending. Huw van Steenis discusses the motivations behind these collaborations, the capital benefits, and the implications for financial stability and the banking system. The conversation also touches on the evolving landscape of asset-backed lending and the role of technology in banking operations.
Private credit has emerged as a booming market, prompting banks to collaborate with private credit firms despite being traditional competitors in lending. Over the past year, more than a dozen major banks have engaged in partnerships with private credit, raising questions about the potential threat this poses to the banking sector. Huw van Steenis, vice-chair at Oliver Wyman and former bank analyst at Morgan Stanley, discusses this evolving relationship.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.