{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/positions/2026-08-08-143",
 "identifier": "kaal:position:2026-08-08-143",
 "additionalType": "https://wulfkaal.github.io/positions/schema.json#AffirmedPositionClaim",
 "name": "Streaming From Banks To Private Credit Risk Migration Beyond The Regulatory Perimeter Fund 5Fe98A8919",
 "text": "From Banks to Private Credit reports that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds. The abstract does not concern credit derivatives specifically or quantify resulting systemic loss.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0009-0008-7840-1847"
 },
 "datePublished": "2026-08-08",
 "dateModified": "2026-08-08",
 "creativeWorkStatus": "Affirmed",
 "responseType": "extension",
 "keywords": [
  "systemic-risk",
  "economics",
  "historical-response",
  "scholarly-literature",
  "crossref"
 ],
 "scope_conditions": [
  "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 extension.",
  "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 that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss."
 ],
 "currentDebate": {
  "name": "From Banks to Private Credit: Risk Migration Beyond the Regulatory Perimeter, Funding Networks and Systemic Risk",
  "url": "https://doi.org/10.2139/ssrn.6800609"
 },
 "extends": {
  "identifier": "kaal:claim:2998097-009",
  "url": "https://wulfkaal.github.io/claims/2998097-009",
  "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
  "paper": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016",
  "authors": [
   "Wulf A. Kaal"
  ],
  "year": "2017",
  "ssrn": "https://ssrn.com/abstract=2998097",
  "source_pdf_sha256": "0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5"
 },
 "isBasedOn": [
  {
   "@id": "https://wulfkaal.github.io/claims/2998097-009"
  },
  {
   "@type": "CreativeWork",
   "name": "From Banks to Private Credit: Risk Migration Beyond the Regulatory Perimeter, Funding Networks and Systemic Risk",
   "url": "https://doi.org/10.2139/ssrn.6800609"
  }
 ],
 "batch_id": "kaal-review:2026-08-08:continuous-crossref-0012-all-0046-reviewed-v1",
 "review_provenance": "https://kaal-signal-desk.wulf577462.chatgpt.site/#review",
 "publicationStatus": "public",
 "recordTypeNote": "Dated commentary position extending a scholarly corpus claim. Not a verbatim claim extracted from the paper.",
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/positions/index.json"
 },
 "version": "1.0",
 "canonical_url": "https://wulfkaal.github.io/positions/2026-08-08-143",
 "canonicalForm": "https://wulfkaal.github.io/positions/2026-08-08-143.md",
 "candidateId": "kaal:response-draft:2026-08-08:57d853c5556b6cae5706",
 "evidenceLevel": "abstract indexed",
 "reviewTier": "substantively reviewed abstract-level extension",
 "mappingConfidence": 0.62,
 "mappingAmbiguous": false,
 "mappingMethod": "complete-corpus source-proposition mechanism and scope adjudication",
 "mappingWhyRelevant": "The source reports that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss.",
 "sourceProvenance": {
  "source": "crossref",
  "sourceRecordId": "10.2139/ssrn.6800609",
  "queryId": "concept:e48ae000263a",
  "queryText": "private funds systemic risk",
  "canonicalUrl": "https://doi.org/10.2139/ssrn.6800609",
  "doi": "10.2139/ssrn.6800609",
  "externalIds": {
   "DOI": "10.2139/ssrn.6800609",
   "Crossref": "10.2139/ssrn.6800609"
  },
  "retrievedAt": "2026-08-09T09:11:09.108Z",
  "providerPage": 1,
  "rawObservationSha256": "7b84056d03ec4917159dfea33961064d379d4a3f5821e11a9f2e6cf68ba9dcf8",
  "inputSnapshotSha256": "c2086af03ba224dba950f8b288531273fd798d5c60f10dcebc2af1beff218d94",
  "inputLine": 5571,
  "chunkId": "crossref-00001",
  "workId": "work:doi:10.2139/ssrn.6800609",
  "workAuthors": [
   "Emmanouil Chalampalakis"
  ],
  "workPublishedAt": "2026-01-01",
  "identityKeys": [
   "doi:10.2139/ssrn.6800609",
   "crossref:10.2139/ssrn.6800609",
   "url:https://doi.org/10.2139/ssrn.6800609",
   "title:994ffc8bd1b356ae5b2d4043",
   "proposition:280ba27a42d68e10e020cc3ba7ef4f8f0be090c812317db36d935e4e78cb1a88"
  ],
  "sourceProposition": "Importantly, we document that this expansion is closely linked to increased bank funding of private credit vehicles, indicating that regulation alters the location rather than the existence of credit risk.,To assess the systemic implications of this shift, we combine panel estimates with exposure-weighted network measures of bank–private credit linkages.",
  "sourcePropositionSha256": "3d11afa5838e416e24d7e36335e13ca3c11900874e32dfa7e046c682cee4c055",
  "sourcePropositionIndex": 2,
  "claimMappings": [
   {
    "claimId": "kaal:claim:2998097-009",
    "claimUrl": "https://wulfkaal.github.io/claims/2998097-009",
    "rank": 1,
    "confidence": 0.62,
    "method": "complete-corpus source-proposition mechanism and scope adjudication",
    "whyRelevant": "The source reports that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss.",
    "ambiguous": false
   },
   {
    "claimId": "kaal:claim:1806252-002",
    "claimUrl": "https://wulfkaal.github.io/claims/1806252-002",
    "rank": 2,
    "confidence": 0.62,
    "method": "complete-corpus source-proposition mechanism and scope adjudication",
    "whyRelevant": "The source reports that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss.",
    "ambiguous": false
   }
  ],
  "substantiveReview": {
   "disposition": "retained",
   "reviewVersion": "kaal-continuous-crossref-substantive-review-v1",
   "reviewedAt": "2026-08-09T17:20:15.809Z",
   "reviewer": "Codex continuous substantive reviewer",
   "rationale": "The source reports that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss.",
   "limitations": [
    "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 that private-credit expansion is closely linked to increased bank funding of private-credit vehicles, so regulation changes the location rather than the existence of credit risk. This supplies a bank–funding-network mechanism supporting Kaal's emphasis on regulated banks' exposure to private funds, while it does not concern credit derivatives specifically or quantify resulting systemic loss."
   ],
   "sourceIdentity": {
    "status": "verified",
    "source": "Crossref REST work record",
    "doi": "10.2139/ssrn.6800609",
    "title": "From Banks to Private Credit: Risk Migration Beyond the Regulatory Perimeter, Funding Networks and Systemic Risk",
    "authors": [
     "Emmanouil Chalampalakis"
    ],
    "language": "unavailable",
    "publisher": "Elsevier BV",
    "checkedAt": "2026-08-09T17:20:15.809Z",
    "responseBodySha256": "f5faff084a4935879cc108b8fb08b6900de3d9c82750ce0a561cc23d1f7b92d9",
    "providerReceipt": {
     "path": "outputs/historical-backfill-2026-08-08-crossref/raw-receipts/crossref-012-00001.json",
     "sha256": "0ef1db6ec92d14b0f413c41718ad3fc96a90d8782ee01c34a3d43f1ed5b19c3a",
     "byteLength": 1763869
    }
   },
   "independentRationale": "The exact proposition is present in the live Crossref abstract and the deposited reference list contains no Kaal-authored reference; the relationship is limited to the independently stated proposition.",
   "nonOverlap": {
    "candidateIdMatches": 0,
    "canonicalUrlMatches": 0,
    "propositionHashMatches": 0
   }
  }
 },
 "userAffirmation": "Automatically authorized under standing authority receipt kaal-standing-publication-authorization:2026-08-01:hourly-reviewed-batches, SHA-256 e2126054b58bb4e88db65c334ef4fc8ae78dcaadc63543c408133c4eefceb9b1, limited to this substantively reviewed batch and the unchanged 5,033 scholarly claims.",
 "sha256": "c83e840d20730f0cd80d77c8b326385121b3358451b4d4f5f165005b296bcb38"
}
