Agreement: From Banks to Private Credit: Risk Migration Beyond the Regulatory Perimeter, Funding Networks and Systemic Risk

Record: kaal:position:2026-08-08-142 · 2026-08-08

From Banks to Private Credit reports a 14-country panel association between tighter prudential regulation, constrained bank balance sheets, and significant private-credit growth. This independently corresponds to Kaal's account of post-crisis bank constraints creating room for private funds and alternative lenders. The abstract does not by itself establish causality or limit the expansion to SME finance.

Affirmed commentary position. This record extends a source-bound scholarly claim but is not a verbatim paper claim.

Holds when

The response is limited to the retrieved source proposition and mapped Kaal claim unless fuller source review supports a broader conclusion.
External evidence level: abstract indexed.
Mapping review tier: substantively reviewed abstract-level agreement.
Primary mapping confidence: 0.62.
The primary mapping cleared the automated ambiguity test; substantive scope remains review-bound.
Evidence is limited to an exact proposition in a Crossref-indexed abstract; full text was not reviewed.
No relationship is treated as external endorsement, citation, causation, or validation of a broader Kaal claim.
The source reports a 14-country panel association between tighter prudential regulation, constrained bank balance sheets, and significant private-credit growth. This independently corresponds to Kaal's mechanism in which post-crisis bank constraints create room for private funds and alternative lenders, while the abstract does not by itself establish causality or limit the expansion to SME finance.

Current debate

From Banks to Private Credit: Risk Migration Beyond the Regulatory Perimeter, Funding Networks and Systemic Risk

Scholarly basis

kaal:claim:3002908-022
Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908
Source PDF sha256: 06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534

Evidence and mapping

Evidence: abstract indexed
Review tier: substantively reviewed abstract-level agreement
Mapping confidence: 0.62
Mapping ambiguous: false

Topics

decentralization systemic-risk defi historical-response scholarly-literature crossref

Provenance

Affirmed in kaal-review:2026-08-08:continuous-crossref-0012-all-0046-reviewed-v1 on 2026-08-08. Review record.

Verify

Canonical markdown sha256: dbde90016dde8c3fdf6b1b3f74b68aa9093afafbee6102b0da875b2048699e98
curl -s https://wulfkaal.github.io/positions/2026-08-08-142.md | sha256sum