US insurance - Default swaps are insurance policies, insists Dinallo
Following his efforts to deal with troubled monoline bond insurers (Life & Pensions, September 2008, p5), New York insurance regulator, Eric Dinallo, is broadening his clampdown on credit derivatives. From 2009 onwards, any firm based in New York State exposed to credit risk that wants to buy credit default swap protection will need to go to a regulated insurance entity, according to proposals
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