ECB Expands Probe on Private Credit to More Banks as Fears Mount

The European Central Bank has doubled the number of banks covered by a probe into links with private credit, as the sector faces a slump in investor confidence.

This year, the ECB is asking more than 20 banks for more details on their exposures, up from a dozen in previous exercises, people familiar with the matter said. Those with meaningful ties to private credit will have to report details on an annual basis, the people said, who asked to remain anonymous as the interactions aren’t public. An ECB spokesman declined to comment.

While the ECB’s monitoring builds on similar work ...