Financial Times FT.com

US bond insurer rescue takes shape

By Aline van Duyn, Saskia Scholtes and Ben White in New York and Gillian Tett in London

Published: January 28 2008 20:56 | Last updated: January 28 2008 20:56

Efforts to shore up US bond insurers gathered pace on Monday as New York state regulators appointed investment bankers to advise on a rescue plan that could include back-up credit lines for the troubled guarantors.

The efforts are being spearheaded by Eric Dinallo, the New York state insurance superintendent, who is being privately supported by the New York Federal Reserve Bank and other regulators, people familiar with the matter said.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this