Private credit's trillion-dollar boom is fueling warnings of a hidden financial contagion
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最新报道：Private credit's rapid expansion is raising alarms among financial regulators, with concerns that risky lending practices could trigger the next crisis. The $1.7 trillion market has seen explosive growth as institutional investors chase higher yields, but experts warn about deteriorating underwriting standards and excessive leverage. Particularly worrying are PIK (payment-in-kind) loans, which allow borrowers to defer cash interest payments by adding to their debt burden. Federal Reserve officials note these loans now represent over 30% of new private credit deals, up from just 5% in 2019. While proponents argue private credit provides crucial financing alternatives, critics compare current conditions to pre-2008 subprime mortgage markets.
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