The recent bankruptcies of US companies First Brands and Tricolor have focused attention on risks associated with the growth in the private credit market, or lending outside traditional banks.

Bank of England Governor Andrew Bailey told a parliamentary panel this week that it was too soon to know whether the problem was isolated to those two firms or the "canary in the coal mine" to a 2008-scale financial crisis.

JPMorgan Chase Chief Executive picked a different metaphor when discussing Tricolor, which cost the giant US lender $170 million.

"When you see one cockroach, there are probably more," Jamie Dimon said earlier this month, adding that his firm was scouring its loan book for other potential problems.

- What is the private credit market and why has it grown? -

Estimating the exa

See Full Page