Cost of insuring banks' bonds rises on foreclosure woes

10/18/2010 | Wall Street Journal, The

The cost of insuring the debt of individual banks has risen as investors are increasingly concerned about the foreclosure issue. Meanwhile, the Counterparty Risk Index, a gauge of banks' creditworthiness, increased about 6%, highlighting fears that lenders may face litigation over problems with foreclosure documents. Banks, however, have expressed confidence that the issue is with the process and not the actual foreclosures.

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