The mortgage assumptions used to derive risk-based capital (RBC) charges under the new 'RMBS Initiative' approach are similar to those used in Fitch Ratings' U.S. RMBS Recovery  Rating (RR) analysis, according to a study by Fitch's Insurance and RMBS groups of the National Association of Insurance Commissioners' (NAIC) RMBS Initiative' results.

Fitch said as a result it would need  to  make significant adjustments  to  insurers' reported RBC amounts as part of its insurance company rating analysis.

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