New YorkFed officials questioned JPMorgan, Wells Fargo, Barclays and Morgan Stanley.
The questions concern loans to private credit firms, an industry that has unnerved investors and policymakers.
JPMorgan’s March markdown of loans to AI-threatened software firms prompted the review in part, people familiar with it said.
The Fed finished reviewing some banks, including JPMorgan, and all five institutions declined to comment.
How each outlet framed it
- semafor.com
- Fed visited major banks to review private credit exposure after JPMorgan marked down AI-threatened loans in March
Sources: semafor.com