Are bond insurance companies regulated by the FDIC? If not, who regulates them?

Question

Are bond insurance companies regulated by the FDIC?

I'm referring to companies such as MBIA, Ambac Financial Group and such.

Are they regulated by any national banking agency? (Officer of comptroller of currency, state bank regulators, federal reserve and so on.)

If none of the above, then who regulates them?

Answer 1

As any insurance company they are regulated by the State insurance departments of the States in which they operate. Their is no national insurance commissioner as there is no national insurance charter (a much discussed subject in the insurance industry).

Moody's Investor Services and Standard & Poor's rate their financial strength but neither organization has regulatory power.