The Federal Reserve reviews large banks' exposure to private credit risk

According to a report by Semafor, the New York Federal Reserve has begun visiting JPMorgan Chase, Wells Fargo, Barclays, and Morgan Stanley to review their loan situations and risk exposures related to private credit companies.

This review partly stems from JPMorgan Chase's move in March to write down a significant amount of loans in its private credit portfolio, particularly loans to software companies threatened by artificial intelligence.