A quick overview of the top ten articles across the whole of Risk.net in 2010 provides a roadmap of the year's main themes
Protection sellers on monoline face 80% cash value payout
Isda has classified a restructuring of Ambac's RMBS-related exposure as a bankruptcy, triggering thousands of CDS.
Mixed second-quarter results for monoline insurers have raised fresh worries about their future prospects.
Ambac reported a massive $1.539 billion mark-to-market gain on credit default swaps (CDSs) in the first quarter – an upswing largely due to its own deteriorating financial condition.
An auction is to be held to settle credit derivatives linked to Syncora, the monoline formerly known as XL Capital Assurance, after a committee declared a credit event to have occurred on the firm on May 1.
Ambac saw a fourth-quarter net loss of $2.3 billion, a slight improvement on its performance in the third quarter of 2008, when it lost $2.4 billion and a notable improvement from its showing in the fourth quarter of 2007, when it shed $3.3 billion.
Ambac Financial announced on Wednesday that it has arranged a deal with counterparties to close out exposure to four collateralised debt obligations (CDOs) with a cash settlement of $1 billion.
Battered by mortgage-related positions and credit losses, bond-insurance companies Ambac and MBIA both took a hit in the third quarter.
Standard & Poor's has announced a negative outlook for the AAA rating of Financial Security Assurance (FSA), the New York-based monoline insurance company that is part of the Dexia Group.
New York-based bond insurer Ambac has rid its books of exposure to a $1.4 billion collateralised debt obligation-squared (CDO-squared) transaction, by commuting a guarantee written on it for arranger Citi.
With financial guarantors hit by a raft of downgrades in recent months as a result of exposures to subprime mortgage-linked securities – restricting their ability to generate new business - several new players are waiting in the wings to fill the void....
Beleaguered monoline insurers Ambac and MBIA have lost their Standard & Poor's (S&P) AAA ratings, just a day after Moody's placed both firms under review as a precursor to downgrade action of its own.
Monoline insurers could be split into two separate entities under plans being considered to stave off further credit rating downgrades of the troubled municipal bond guarantors.
Warren Buffett’s plan to reinsure wrapped municipal bonds has been given short shrift by monoline bond insurers.
The situation in the troubled bond insurance sector has worsened, with the announcement of a $2.3 billion fourth-quarter writedown by New York monoline, MBIA.
As market conditions continue to deteriorate, interested parties are coming together in an attempt to save the imperilled US monoline insurers from bankruptcy.