At the spring meeting of the NAIC, the Reinsurance Task Force (meeting summary) voted not to proceed with a proposed reinsurance collateral model bulletin, but voted to expose a proposed reinsurance collateral guidance memo for a comment period ending April 23, 2009. The Task Force also voted to expose for a comment period a draft of a federal statute for a reinsurance regulatory modernization framework (comment period expires April 23, 2009). The desire is to submit the proposed bill for consideration by Congress in the current session. The Finance (E) Committee adopted the report of the Task Force (meeting summary)