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Banks have been working with the New York State Insurance Department, which regulates the bond insurers, for more than a week. A plan to create a $15 billion relief fund, one widely reported option, is the least likely, the person added.
New York Insurance Superintendent Eric Dinallo reiterated his statement from last week that the regulator''s plan to help the insurers is focused on facilitating new capital for the industry, protecting policyholders and altering legislation.
Added on: Fri Feb 01, 2008 8:45 pm by :
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