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US Treasury Reportedly to Meet with Insurance Regulators to Discuss Private Credit Issues
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According to a report by Reuters, the US Treasury is expected to hold a series of meetings with domestic and international insurance regulators in the coming weeks regarding recent developments in the private credit market. The first meeting could be announced as early as Wednesday (1st). The report states that the parties involved will decide on future interactions based on the results of this meeting, aiming to increase interaction between private credit institutions and regulated financial institutions, and to enhance regulators' ability to supervise private credit institutions in a factual and transparent manner. It is reported that Secretary Bessent has been planning the meetings since January and will begin regular and ongoing consultations with insurance regulators starting in the second quarter. The US Treasury does not have the authority to directly regulate the insurance industry, but Bessent is committed to making the Treasury a "convening body, resource, and forum" for the insurance regulators of all 50 states. It is reported that Treasury officials are eager to hear feedback from regulators on several issues: including the increased use of leverage at the fund level, consistency in private credit ratings, the use of offshore reinsurance, and investment liquidity in the private credit market. Due to concerns about liquidity, transparency, and lending discipline, market confidence in this USD2 trillion non-bank lending sector has been shaken in recent weeks. (fc/da) AASTOCKS Financial News Website: www.aastocks.com Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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