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战斗力 鹅
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注册时间 2017-11-1
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兄弟，贝莱德又不是银行，是资管，它管的所有产品都是相互隔开的
但话说回来，private credit肯定是迟早要出问题的，问题是在什么时候，以及以什么方式。前段时间老美有家小银行（Metropolitan Capital Bank & Trust）出了问题，引得市场猜测private credit啥时候出问题
美联储也一直在盯着private credit。找篇比较新的文章大概是这样：
https://www.federalreserve.gov/e ... tions-20250523.html
Bank Lending to Private Credit: Size, Characteristics, and Financial Stability Implications
Private credit (or private debt) has emerged as one of the fastest-growing segments of nonbank financial intermediaries (NBFIs) over the past 15 years or so. Although there is no universal definition, private credit generally refers to direct loans made to mid-market businesses typically by non-bank vehicles such as private debt (PD) funds and Business Development Companies (BDCs) (Cai and Haque, 2024; Haque, Mayer, and Stefanescu, 2025). The asset class totaled $1.34 trillion in the U.S. (Exhibit 1) and nearly $2 trillion globally by 2024-Q2, and has grown roughly five times since 2009. Despite still being a relatively small fraction of the overall credit provided to nonfinancial businesses, the rapid expansion of private credit highlights a broader shift from traditional bank financing to alternative sources.
在过去15年左右的时间里，私人信贷（或私人债务）已成为非银行金融中介机构（NBFIs）中增长最快的领域之一。尽管没有统一的定义，但私人信贷通常指的是通过非银行机构（例如私人债务基金和商业发展公司）直接向中型企业提供的贷款（Cai和Haque，2024；Haque、Mayer和Stefanescu，2025）。该资产类别在美国的总额达到1.34万亿美元（见图表1），到2024年第二季度，全球总额将接近2万亿美元，自2009年以来增长了约五倍。尽管私人信贷在非金融企业整体信贷中所占比例仍然相对较小，但其快速扩张凸显了融资方式正从传统银行融资转向其他融资渠道的趋势。
这个1.34万亿美元总规模和老美ABS的规模差不多了。 |
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发表于 2026-3-7 09:51
发表于 2026-3-7 10:41
