JPMorgan Chase & Co has set aside at least $10 billion to back its foray into the world of direct lending, Bloomberg Law reported on Thursday, citing people with knowledge of the matter.

The largest U.S. bank by assets is prepared to make many more billions of dollars available if it sees the opportunity to deploy additional capital, the report added.

JPMorgan did not immediately respond to a Reuters request for comment on the report.

The Wall Street titan’s move into the market is likely to put it head to head with established sector heavyweights such as Ares Management Corp and Apollo Global Management.

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Last week, JPMorgan Chief Financial Officer Jeremy Barnum told investors the bank was “absolutely open for business” in leveraged lending even as other U.S. banks are expected to book significant losses on risky loans underwritten last year.

The bank’s finance chief was commenting alongside its fourth-quarter results, which saw the lender beat forecasts for profit on the back of a strong performance at its trading unit.