US regulation - Thrift regulator hits back at AIG criticisms

The US Federal-level regulator responsible for AIG at holding company level has responded to criticisms of its supervision of the stricken insurance giant. The Washington DC-based Office of Thrift Supervision (OTS) says that its oversight of the giant's AIG Financial Products (AIGFP) subsidiary was limited due to the unregulated nature of credit derivatives markets. Moreover, EU supervisors expressed their comfort with the situation by granting the OTS equivalency status in January 2007.

OTS was

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