Private Credit
The Transparency Gap: Europe Is Now Regulating Private Credit Blind, and Washington Is Making Sure It Stays That Way
The European Central Bank estimates euro-zone banks hold EUR 62.5 billion in private credit exposure. Insurers hold EUR 211 billion. Pension funds another EUR 52 billion. Those numbers are the ECB's own inference, because the data that would confirm them sits in the United States, and the US Treasur