While recent reports have suggested three of the most vulnerable monoline bond insurers XL Capital Assurance Inc., CIFG Assurance NA, and Financial Guaranty Insurance Co. are likely to breach statutory levels, the companies say their financial situation is not so dire.

The most recent critique of the financial guaranty companies came from Rob Haines, a senior analyst at research firm CreditSights, who wrote in a report on Monday that the three companies are approaching New York insurance regulators' minimum capital threshold, set at $65 million for the surplus to policyholders.

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