The Federal Reserve is requesting detailed information from major U.S. banks about their exposure to private credit firms after redemptions increased and troubled loans rose. The queries, described as part of routine oversight, aim to assess stress transmission—how private credit drawdowns could spill over into the broader financial system. The article ties the developing attention to a broader regulatory push in which the administration’s regulators are also debating loosening rules, potentially changing the competitive landscape between banks and nonbank lenders. For higher education institutions managing endowment assets and operating university foundations, the signal is that private credit risk is entering more intensive supervisory focus, which can affect liquidity assumptions and capital planning.