In our podcast Out of the shadows: The growing regulatory spotlight on private capital, we explored the increasing noise we hear from regulators regarding the impact of and potential for private capital to pose systemic risk. Some call for increased scrutiny, while others have cautioned against a rush to over-regulate.

Heightened regulatory focus – both on banks’ exposure to private capital, and on private capital activities – reflect two sides of the same coin. In this briefing, we share our perspective from Hong Kong, focusing on the implications for banks and private capital, particularly private credit.