Wells Fargo reported $36.2B in private credit exposure in Q1, while JPMorgan disclosed ~$50B within a broader $160B exposure to non-bank financial institutions and Citigroup reported $22B in Q4 2025. Jamie Dimon warned a credit cycle could be worse than expected. Blue Owl, Morgan Stanley, BlackRock, and JPMorgan capped redemptions amid elevated withdrawal requests tied to AI disruption concerns.
