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FSA slows CDO business, but seen re-active this fall

Financial Security Assurance (FSA) is projecting $51.5 million in losses, net of reinsurance, due to insuring the triple-A tranches on seven 1998/1999 vintage arbitrage cashflow high yield CBOs. The monoline is taking a step back from wrapping CDOs to evaluate its criteria and its existing portfolio, but will likely...

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