Finance

BIS Piles into ABX Debate, Says Subprime MBS Index is Overstating AAA Losses 

More than a few analysts have argued in recent months that the ABX index is overstating subprime losses, to varying degrees of success; the Bank for International Settlements, however, made wide headlines Monday for suggesting that ABX trading prices might be overshooting actual losses on AAA-rated securities by as much as 60 percent.