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UK lawmakers push Bank of England to gain legal data access to monitor risky private credit market.
UK lawmakers are urging the Bank of England to gain new data powers to monitor the fast-growing private credit market, citing risks to financial stability due to lack of transparency.
A House of Lords committee warned that insufficient data makes it hard to assess systemic threats, especially as banks shift lending to non-bank providers.
While the BoE’s voluntary stress test—targeting the $16 trillion global private markets sector—has begun, officials say it won’t capture the full picture without legal authority to compel data from overseas firms.
The Treasury acknowledged the concerns and will respond to the report, with final test results expected in early 2027.
Los legisladores del Reino Unido presionan al Banco de Inglaterra para que obtenga acceso legal a los datos para monitorear el mercado de crédito privado riesgoso.