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Derivatives

CDS Referencing Financial Guaranty Insurance Companies

The well-publicized exposure of U.S. financial guaranty insurance companies to losses from the repackaging of sub-prime mortgage loans into residential mortgage-backed securities, and the repackaging of BBB and lower-rated tranches of RMBS into asset-backed securities collateralized debt obligations, has caused concern about those insurers' financial ability to withstand losses from such exposure.

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