US Bank Lending to Competitors Surged 26% This Year, Fitch Says
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US banks are lending more to private credit firms, private equity shops and hedge funds, with loan volume to these non-bank financial institutions up 26% this year through November, according to Fitch Ratings. Domestic banks made about $363 billion of new non-bank loans through Nov. 26, Fitch analysts wrote in a reportBloomberg Terminal on Monday, citing Federal Reserve data. Banks added $291 billion across all other loan types, according to Fitch.