UBS warns of the risk of an impending financial crisis due to private credit bubble

<p>ICYMI – UBS is warning that the growing private credit bubble risks becoming the cause of the next financial crisis.
</p><p>UBS Chairman Colm Kelleher was speaking at the Financial Times Global Banking Summit in London on Tuesday:</p><ul><li>warned of the risks surrounding private credit: "There is no doubt that there's an asset bubble going on in private credit. You are seeing leverage building up.""</li><li>said a single incident could spark a "crisis in confidence" that leads to a major crash</li><li>"risks building up" </li><li>warned there are "many other asset bubbles building" (eg. commercial real estate as another risk)]</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.