Banks Tally $100 Billion of Private-Credit Loans as Calm Urged

Wall Street banks reported at least $100 billion of exposure to private-credit firms, offering a glimpse at what has become a closely watched industry with many investors on edge over credit quality and the growing impact of artificial intelligence.

Wells Fargo & Co. said its exposure to private-credit firms was roughly $36.2 billion in the first quarter, while Citigroup Inc. reported $22 billion of such loans in the fourth quarter, noting that it’s had zero losses over the life of the portfolio.