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Banks Just Started Dumping Private Credit onto Insurance Companies
Description
Banks are taking more steps to distance themselves from the growing private credit bust. They’re revaluing private credit assets that have been pledged to them as security for financing banks have provided to these shadow banks. I told you when JPM did it a month ago there would be others. Insurance companies are now really getting dragged into this mess, too, a double dose of Stage 2.
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ACLI President and CEO David Chavern Responds to April 14th Financial Times Article on Private Credit
https://www.acli.com/posting/acr26-003
Wall Street banks start trading derivatives to bet on pain in private credit
https://www.ft.com/content/54076a09-7a66-44f3-8e70-343f6d601e50?syn-25a6b1a6=1
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU