Middle Market & Private Credit – 6/30/2025

Smaller, Non-Systemic U.S. Banks Most Concentrated to Non-Bank Lending

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A relatively small percentage of U.S. banks provide loans to non-bank financial institutions (NBFIs), according to analysis of new regulatory data for the entire banking industry by Fitch Ratings. Around 13% or 576 FDIC banks reported balances of either NBFI loans or unfunded commitments, totaling over $2 trillion, most of which is held in domestic offices at March 31, 2025.