Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Retirement Planning > Social Security

NAIC To Evaluate RMBS

X
Your article was successfully shared with the contacts you provided.

The National Association of Insurance Commissioners plans to conduct a mid-year update on the credit quality of insurers’ residential mortgage-backed securities holdings.

The Valuation of Securities Task Force at the NAIC, Kansas City, Mo., decided to ask for the RMBS update.

The NAIC has shifted to a new system of using an RMBS evaluation service rather than relying on the credit rating agencies.

Insurers had argued that the rating agency approach penalized them when an issuer had shown an sign of defaulting, even when it seems likely that an issuer eventually will make good on most or all of its obligations.

The NAIC has not yet decided when the mid-year RMBS review will be completed, a representative says.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.