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Yesterday, Ambac Financial Group (Ambac) announced that its principal subsidiary Ambac Assurance Corporation (AAC), has established "a segregated account for certain of AAC's liabilities, primarily policies related to credit derivatives, residential mortgage-backed securities (RMBS) and other structured finance transactions" pursuant to the direction of the Wisconsin Office of the Commissioner of Insurance (OCI
The House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises held a hearing yesterday entitled "Recent Innovations in Securitization" to discuss whether to establish stronger federal regulation with respect to life insurance securitization and life settlement plans generally
Today, the U.S. Treasury and the Federal Reserve announced new measures to restructure federal financial support to American International Group, Inc. (AIG) “in order to keep the company strong and facilitate its ability to complete its restructuring plan successfully.”
