US Treasury to Meet Insurance Regulators on Private Credit Markets

Treasury and Insurance Oversight

The U.S. Treasury Department said Wednesday that it will convene meetings starting in April with domestic and international insurance regulators focused on recent developments in private credit markets.

The meetings are scheduled to begin in April and continue through early May. Treasury said participants will review recent market events, emerging risks, risk management practices and the outlook for the sector.

Focus on Private Credit Risks

Private credit market jitters have spread through markets in recent weeks. Some major U.S. banks have tightened lending, while funds have capped withdrawals as concerns over valuations, transparency and the health of the broader economy have prompted some investors to exit the sector.

Treasury said the meetings are intended to improve coordination with state insurance regulators, which serve as the insurance industry's primary regulators.

“This first series of meetings will facilitate greater regular communication with the state insurance regulators, who serve as the insurance industry's primary regulators, and lay the groundwork for sustained close collaboration,” the department said in a statement.