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WASHINGTON — Turmoil in the bond-insurance industry poses a risk to banks and the broader markets, but the risk to the largest U.S. banks may be only modest, according to letters from financial regulators to a U.S. House lawmaker.
“Given the adverse effects that problems of financial guarantors can have . . ., we are closely monitoring developments,” Federal Reserve Chairman Ben Bernanke said in a letter to Rep. Paul Kanjorski, D-Pa.
