FSA plans to withdraw from structured finance market

07 Aug 2008

Monoline insurer Financial Security Assurance is to pull out of the structured finance market.

FSA made the announcement while posting a net loss of $330.5m for the quarter, mainly as a result of $1bn of impairment charges on its financial products portfolio and $600m of loss expenses on its guarantees of second lien RMBS.

At the same time, its parent company Dexia ...

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