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SAN FRANCISCO (MarketWatch) — New York State Insurance Commissioner Eric Dinallo
said late Wednesday that he’s in active talks with MBIA Inc. about the company’s
commitment to funnel $900 million in capital to its main bond insurance unit by
next week. “We are in active discussions with MBIA regarding the company’s
fulfilling its existing publicly announced commitment by the stated June 11
deadline,” Dinallo said in a statement. MBIA said earlier on Wednesday that it
had decided not to send the money to the subsidiary. On May 12, MBIA said it
planned to “downstream” the money within the next 10 to 30 days.

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