According to the Federal Reserve’s final SLOO survey of 2025, commercial and industrial (C&I) loan standards are tightening, given increased demand and the impacts of AI.
The banking agencies' latest Shared National Credit review shows the $6.9T syndicated loan market grew 6% in 2025, with leveraged lending now comprising 44.5% of the portfolio at $3.1T. While classified leveraged loans rose 8.8%, the biggest concern across the broader SNC portfolio is nonaccrual commitments increasing 30.4% to $84.9B.
For context, growth (AUM) data includes the entire BDC universe, which consists of 173 funds; all other data captures BDCs reporting financials by March 19th, a universe of 143 funds.
Analysis & Data, LSTA publications on the private corporate credit market
Join us for the fourth episode, where we speak with a former Office of Information and Regulatory Affairs administrator about how the second Trump administration is reshaping financial regulation.
As interest in private corporate credit grows, its valuation practices have come under greater scrutiny. In response, LSTA developed this first-of-its-kind practical guide to understanding valuation processes.
Policy & Advocacy, Private Corporate Credit Series
Banks tightened commercial lending standards in 3Q25 amid economic uncertainty and trade policy concerns, with small businesses facing more restrictions than larger firms, according to the Federal Reserve's latest Senior Loan Officer Opinion (SLOO) Survey.
The NAIC’s Risk-Based Capital Investment and Risk Evaluation Working Group (RBC IRE WG) held a call on Monday to provide a progress report on the American Academy of Actuaries (Academy)’s model for CLO C-1 factors (i.e., the weight NAIC gives to each of its risk rating categories) for Risk-Based Capital (RBC) charges. While the model...
Join us for the third episode of our industry trend podcast, where we’ll share insights on capital solutions and their place in a multi-strategy private credit platform.
The BDC Quarterly Wrap highlights select data points to provide a readout on BDC growth, structure, financing and asset quality. For context, growth (AUM) data includes the entire BDC universe, which consists of 166 funds; all other data captures BDCs reporting financials by August 18th, a universe of 164 funds.
Analysis & Data, LSTA publications on the private corporate credit market
