Moody's Ratings Agency has stated that there is no evidence of systemic risk in the financial system, despite growing concerns about non-performing loans in medium-sized American banks.

Marc Pinto, the head of Moody's global private credit department, emphasized that although lending standards have relaxed, asset quality remains stable. He mentioned that there are no signs of significant deterioration in the credit cycle, contrary to market perception. His statements come after the severe losses suffered by banking stocks, caused by the revelations of losses by certain banks. Pinto also dismissed the idea of a widespread infestation, comparing the situation to a singular "bug."

Default rates for high-yield debt remain below 5% and could drop below 3% by 2026, well below the levels seen during the 2008 financial crisis. The American economy continues to be resilient, and the prospects for interest rate cuts suggest an improvement in credit quality. Market confidence has begun to recover, with a rebound in the SPDR S&P Regional Banking ETF.