Bloomberg News reported on Wednesday that Wall Street banks like JPMorgan Chase & Co and Goldman Sachs Group Inc are planning to start trading private credit loans. The allegation was based on people with knowledge of the situation.

According to the report, banks are among the companies speaking with private debt funds about easing secondary-market trades.

When approached by Reuters, JPMorgan and Goldman Sachs declined to comment on the allegations.

Finance provided by a lender other than a bank, such as an investment fund, is known as private credit. In 2022, investments in the asset class soared to record highs in emerging and developing nations as borrowers sought out other sources of financing in the face of rising interest rates.