US banks have lent nearly $300bn (£225.2bn) to private credit providers as of June, with overall lending to non-depository financial institutions (NDFIs) reaching $1.2tn. Banks report their lending to private credit providers within the broader category of NDFIs, with loans to these institutions comprising 10.4 per cent of US banks’ total lending, almost three times the 3.6 per cent share recorded a decade ago, according to analysis by Moody’s Ratings. Moody’s explained that the shift towards pr...