Interim Classification Continues for Hybrid Equity Products
Best's Review › Vol. 108 Nbr. 3, July 2007
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Summary
An interim answer to classifying hybrid equities will stay around longer than expected, following inaction by a working group of the National Association of Insurance Commissioners (NAIC). At the heart of the issue is the lack of historical data on the hybrid product -- which shares both debt and equity characteristics. One key observation, Nancy Bennett said, was that the Nationally Recognized Statistical Rating Organizations capture the credit risk or risk of principal default.
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Interim Classification Continues for Hybrid Equity Products
An interim answer to classifying hybrid equities will stay around longer than expected, f...
See the full content of this document
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