The $133bn figure cited by JPMorgan Chase is said to surpass the total loans of nearly all other major banks in the country. Credit: Skorzewiak/Shutterstock.

JPMorgan Chase has reportedly declined to provide detailed private credit lending data to regulatory bodies, posing a challenge to oversight efforts by institutions such as the Federal Deposit Insurance (FDIC).

This move comes despite most major American banks complying with a request to disclose year-end exposures to various types of non-bank financial institutions by 4 February, the Financial Times reported.

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According to the report, JPMorgan Chase grouped all of its $133bn lent to non-banks under the category “other” in its report to the FDIC.

This lack of breakdown by borrower types contrasts with the detailed reporting by other banks and the FDIC’s intention to better understand the connections between banks, buyout firms, and the burgeoning private lending sector, the news publication added.

The $133bn figure cited by JPMorgan Chase is said to surpass the total loans of nearly all other major banks in the country.

A source familiar with the matter told the publication that JPMorgan perceived an “operational risk” in reporting loan categories differently to the FDIC than to the Federal Reserve, which has maintained its historical reporting requirements for disclosing loans to non-banks.

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The private credit market, a nearly $2tn industry, has seen significant involvement from banking giants.

Non-bank financial institutions (NBFIs), also known as shadow banks or non-depository financial institutions (NDFIs), have increasingly come under the scrutiny of regulators such as the Federal Reserve System, FDIC, and Office of the Comptroller of the Currency due to their rapid growth and influence on financial stability.

In May last year, JPMorgan launched Containerised Data solution for institutional investors, which is available through JPMorgan Fusion.

This solution gives investors consistent and richer data across companies by using a new common semantic layer to model and normalise data from diverse providers, sources, kinds, and structures.