The AFR View
Big super leans into private capital
It makes sense for regulators to peek under the hood on non-bank lending while seeking to remove obstacles to the free and efficient allocation of risk capital.
Fuelled by the higher cost of money and greater returns on offer, there has been a sudden pick-up in private credit or non-bank lending to businesses.
An alternative to traditional bank lending and debt issued on public markets is a good thing. This provides access to capital for all sorts of businesses for longer than banks are readily able to. Whether this is spreading risk in the financial system and opening up an unregulated market that could blow back into the core banking system is debatable.
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