US bank regulators are easing Obama-era rules that curbed leveraged lending amid rapid growth in the private credit industry and complaints by bankers that they’re being sidelined by too much regulation.
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. said in a statement on Friday that the 2013 guidance was “overly restrictive” and “overly broad.” The move resulted in a significant drop in leveraged lending market share by regulated banks and pushed much of that lending to nonbanks, the regulators said.
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