The fund offering to buy residential mortgaged-backed securities insured by Syncora Guarantee Inc. said Monday that the deadline to tender securities has been extended again, to 11:59 p.m. Tuesday.

The purchases are part of Syncora's efforts to reduce structured finance exposures and meet minimum regulatory capital requirements. Last week it took a step toward remedying its nearly $2.4 billion policyholders' deficit when it announced it had executed an agreement with 25 financial counterparties to commute or restructure all the $56 billion of credit-default exposure.

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