FGIC


Also found in: Acronyms.

Federal Guarantee Insurance Corporation

A private company providing financial guarantee insurance for different types of transactions. For example, an insurance policy may cover a lender from liability resulting from the failure of the borrower to repay the loan. The FGIC originally provided this insurance exclusively for municipal bonds, but expanded into different transactions, such as IPOs. Clients pay the FGIC the appropriate premium in exchange for a guarantee of repayment in case of default; this increases the bond's credit rating and, usually, decreases its interest rate. The services that the FGIC provides are similar to sureties or co-signed loans.

Financial Guaranty Insurance Corporation

A private company providing financial guarantee insurance for different types of transactions. For example, an insurance policy may cover a lender from liability resulting from the failure of the borrower to repay the loan. FGIC originally provided this insurance exclusively for municipal bonds, but expanded into different transactions such as IPOs. Clients pay FGIC the appropriate premium in exchange for a guarantee of repayment in case of default; this increases the bond's credit rating and usually decreases its interest rate. The services FGIC provides are similar to sureties or co-signed loans.

FGIC

References in periodicals archive ?
The recent agreement will resolve pending litigation, as well as outstanding and potential claims by FGIC related to alleged representations and warranties breaches and other claims involving such securitisations.
Bondholders also will recover, along with all other FGIC policyholders, their pro rata share of the FGIC Settlement when it makes future distributions to policyholders pursuant to its Plan of Rehabilitation, which was submitted and confirmed last year.
FGIC had two floors at 125 Park Avenue, but renewed and doubled its presence in the building about two years ago, a source said, converting its existing space and two new contiguous floors into an elegant, nearly seamless installation.
Brian Moore, Investor & Public Relations of FGIC Corporation, +1-212-312-2776, brian.
On September 27, 2012, the Rehabilitator filed a proposed Plan of Rehabilitation for FGIC with the Court.
commented: "We enjoyed working with the FGIC team, as well as the folks from the Pennsylvania Energy Development Authority and the Clarion County Industrial Development Authority.
We believe it is in the interest of all parties - the Company, policyholders, and others - to avoid a liquidation scenario, which could result in a significant delay in the payment of claims by FGIC.
FGIC Corporation is an insurance holding company whose direct, wholly owned subsidiary, Financial Guaranty Insurance Company (FGIC), provides credit enhancement on public finance and structured finance securities in the U.
NEW YORK -- Sharps SP I LLC today announced that it did not receive sufficient participation from eligible holders in its offer to exchange (the "Offer") certain residential mortgage-backed securities and asset-backed securities insured by FGIC (collectively, the "Eligible Insured Securities") to satisfy the conditions necessary to complete the Offer.
NEW YORK, April 10 /PRNewswire-FirstCall/ -- Financial Guaranty Insurance Company ("FGIC"), a wholly owned subsidiary of FGIC Corporation, and XL Capital Assurance Inc.
Pfeffer, noted, "Sandy brings to FGIC a wealth of credit experience across a broad range of businesses.
Participants in the conference call will include counsel to the New York State Insurance Department (the "NYID"), representatives from FGIC management and certain of its advisors engaged in connection with the Offer.