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Monolines

Bond insurers required to boost disclosure

By Joanna Chung in New York

Published: May 24 2008 03:28 | Last updated: May 24 2008 03:28

MBIA, Ambac and other bond insurers will be required to more quickly disclose information about the securities they have guaranteed under a new accounting standard that could put more pressure on the troubled industry.

The standard, issued by the US Financial Accounting Standards Board on Friday, would change the way such insurers account for revenues, claims and disclosures, with the aim of giving investors better information about potential risks as market conditions change.

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