A new mandate: Insurers and RMBS capital

Late last year the US National Association of Insurance Commissioners removed its condition that external credit ratings should be used by insurers to calculate the capital requirements for holdings of residential mortgage-backed securities. Laurie Carver reports on the implications of this move, in the US and beyond

Regulators and politicians have not been backwards in coming forwards when it comes to condemning the role credit rating agencies played in the global financial crisis. The Europea