The National Conference Insurance Legislators' Model CDS Bill
The National Conference of Insurance Legislators (“NCOIL”) is drafting model legislation (the “Model Bill”) that would subject credit default swaps (“CDS”) to a state regulatory regime closely modeled on that regulating financial guaranty insurance in New York. This memorandum discusses NCOIL’s plans for a state CDS regulatory regime and explores the implications of such a regime on the CDS market.
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