Monoline

Monoline insurance, once a mainstay of the muni market, is a shadow of its former self.

Municipals Reflect the State We're In 2009

Monoline insurers historically focused on insuring municipal bonds, but in recent years their business has expanded to include structured debt such as collateralized debt obligations.

Nomura, Daiwa Profits 2008

Monoline bond insurers are the biggest protection writers for CDS, and Bear Stearns was the twelfth largest counterparty to credit default swap trades in 2006. i These players have been major protection sellers in a massive web of credit default swaps, and when the "protection" goes, the whole fragile derivative pyramid will go with it.

Credit Default Swaps: Derivative Disaster Du Jour 2008

On Monoline-Related Write-Down PARIS -- French bank BNP Paribas SA Wednesday reported a 42% fall in fourth-quarter net income on a preliminary basis, weakened by a write-down related to its exposure to bond insurers.

BNP's Preliminary Net Drops 42% 2008

Monoline Insurers can seek indemnification if a loan that they insured defaulted, and they believe it was represented incorrectly.

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There are three sources from which these potential/current liabilities emanate: Government Sponsored Enterprises Fannie Mae, Freddie Mac, Monoline Insurers, and private-label securitization investors and trusts.

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Monoline claims outstanding continue to grow as the monolines continue to submit claims and are generally unwilling to withdraw these claims even when they have given evidence refuting the claims.

Bank of America CEO Discusses Q4 2010 Earnings Call Transcript - Seeking Alpha 2011

Monoline insurance, once a mainstay of the muni market, is a shadow of its former self.

Safehaven 2009

Monoline insurers such as Ambac and MBIA, which guarantee the return of principal for bonds, began to suffer credit downgrades due to their subprime mortgage-related losses.

Business and financial news - CNNMoney.com 2009

The following summarizes our exposure to Monoline insurers (in millions): As of December 31, 2008 Total Total Total Total Direct Insured Amortized Unrealized Unrealized Fair Exposure (1) Bonds (2) Cost Gain Loss Value Monoline Name AMBAC $ - $ 268 $ 268 $ 6 $ 66 $ 208 ASSURED GUARANTY LTD 30 - 30 - 14 16 FGIC -

Recently Uploaded Slideshows 2009