November 2, 2012
New rules to stop speculators making Europe’s debt crisis worse by betting on government bond defaults are prompting investors to find alternative ways to insure against or profit from bad news in the region. Credit default swaps (CDS) on sovereign …
March 16, 2012
UBS AG has agreed to settle litigation against MBIA Inc. that challenged the bond insurer’s 2009 restructuring, people familiar with the matter said on Thursday. The UBS settlement calls for credit-default swaps to be commuted in exchange for a cash …
November 15, 2011
Regulators should focus on insurers’ role in markets outside their traditional sphere, as such activities could worsen the economic impact of companies in the sector going bust, the International Association of Insurance Supervisors said in a report on Tuesday. The …
February 2, 2011
A New York state appeals court Tuesday dismissed a lawsuit in which bond insurer MBIA Inc. accused Merrill Lynch & Co. of fraudulently misleading it into providing insurance on $5.7 billion of risky debt. The ruling is a setback for …
January 27, 2011
The taxpayer bailout of giant American International Group (AIG) became necessary largely because of AIG’s poor risk management of its financial products and because deregulation of over-the-counter derivatives, including credit default swaps, let the company get away with its risky …