ECB expands probe on private credit to more banks as fears mount, according to Bloomberg

ECB has doubled the number of banks covered by a probe into links with private credit, as the sector faces a slump in investor confidence. This year, the ECB is asking more than 20 banks for more details on their exposures, up from a dozen in previous exercises, people familiar with the matter said. Those with meaningful ties to private credit will have to report details on an annual basis, the sources said.