Plain Text Law

Regulation .04 Credit Risk Exposure Limits.

Regulation .04 Credit Risk Exposure Limits.Copy Citation

A.
A financial guaranty insurer's outstanding total liability for municipal obligation bonds, special revenue bonds, and industrial development bonds shall be investment grade to the following extent:
(1)
For financial guaranty insurers rated AAA by a nationally recognized statistical rating organization, at least 95 percent;
(2)
For financial guaranty insurers rated AA by a nationally recognized statistical rating organization, at least 85 percent; and
(3)
For financial guaranty insurers rated A by a nationally recognized statistical rating organization, at least 70 percent.
B.
By written request of a financial guaranty insurer, the Commissioner may approve any other level considered appropriate.