Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 05 - ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS
Chapter 31.05.10 - Financial Guaranty Insurance
Section 31.05.10.04 - Credit Risk Exposure Limits
Universal Citation: MD Code Reg 31.05.10.04
Current through Register Vol. 51, No. 19, September 20, 2024
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.
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