Net Change in Fair Value of Credit DerivativesThe net change in fair value of credit derivatives, which comprises realized gains/(losses) and other settlements from credit derivatives and unrealized gains/(losses) on credit derivatives, was a gain of $9.4 million for the third quarter of 2010, compared to a gain of $2,132.9 million for the third quarter of 2009. Third quarter of 2009 results included the impact of fair value changes to the CDO of ABS portfolio, which was fully commuted in June 2010. The CDO of ABS portfolio contributed significantly to the volatility of the net change in fair value of credit derivatives throughout 2009.
Ambac Financial Group, Inc. Announces Third Quarter 2010 Results
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