BofA Discloses $20 Billion of Loans to Private-Credit Firms

Bank of America Corp. disclosed it has about $20 billion in private-credit exposure, as the bank and its Wall Street peers seek to calm concerns about the industry’s exposure to the asset class.

In the private-credit space, “we remain well-positioned,” Chief Financial Officer Alastair Borthwick said Wednesday, and Bank of America hasn’t experienced “material losses.” The lender has the ability to mark down eligible collateral in the event of credit deterioration, according to a presentation on its website.