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Expected Loss to be Paid (Recovered) - Net Expected Loss to be Paid After Net Expected Recoveries for Breaches of R&W Rollforward (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | $ 517 | $ 432 | $ 522 | $ 411 | $ 411
Accretion of discount | 4 | 3 | 9 | 5 |
Changes in discount rates | (6) | (42) | 4 | (89) |
Changes in timing and assumptions | 51 | 7 | 47 | 8 |
Total economic loss development (benefit) | 49 | (32) | 60 | (76) |
Net (paid) recovered losses | (6) | 42 | (22) | 107 |
Net expected loss to be paid (recovered), end of period | 560 | 442 | $ 560 | 442 | $ 522
Weighted average risk free discount rate |  |  | 4.34% |  | 4.08%
Period after the end of the reporting period within which the ceded paid losses are typically settled (in days) |  |  | 45 days |  |
Minimum |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Risk free discount rate |  |  | 3.73% |  | 3.82%
Maximum |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Risk free discount rate |  |  | 5.37% |  | 4.69%
United States |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid after recoveries for representations and warranties, percent |  |  | 98.30% |  | 98.50%
Public finance |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 393 | 191 | $ 412 | 209 | $ 209
Total economic loss development (benefit) | 54 | 6 | 59 | (44) |
Net (paid) recovered losses | (4) | 20 | (28) | 52 |
Net expected loss to be paid (recovered), end of period | 443 | 217 | 443 | 217 | 412
Public finance | United States |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 380 | 181 | 403 | 197 | 197
Total economic loss development (benefit) | 57 | 8 | 58 | (40) |
Net (paid) recovered losses | (4) | 21 | (28) | 53 |
Net expected loss to be paid (recovered), end of period | 433 | 210 | 433 | 210 | 403
Public finance | Non-U.S. public finance |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 13 | 10 | 9 | 12 | 12
Total economic loss development (benefit) | (3) | (2) | 1 | (4) |
Net (paid) recovered losses | 0 | (1) | 0 | (1) |
Net expected loss to be paid (recovered), end of period | 10 | 7 | 10 | 7 | 9
RMBS | United States |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 82 | 195 | 66 | 150 | 150
Total economic loss development (benefit) | (9) | (39) | (4) | (32) |
Net (paid) recovered losses | 0 | 23 | 11 | 61 |
Net expected loss to be paid (recovered), end of period | 73 | 179 | 73 | 179 | 66
Other structured finance |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 42 | 46 | 44 | 52 | 52
Total economic loss development (benefit) | 4 | 1 | 5 | 0 |
Net (paid) recovered losses | (2) | (1) | (5) | (6) |
Net expected loss to be paid (recovered), end of period | 44 | 46 | 44 | 46 | 44
Structured finance |  |  |  |  |
Present Value of Net Expected Loss and Loss Adjustment Expenses to be Paid [Roll Forward] |  |  |  |  |
Net expected loss to be paid (recovered), beginning of period | 124 | 241 | 110 | 202 | 202
Total economic loss development (benefit) | (5) | (38) | 1 | (32) |
Net (paid) recovered losses | (2) | 22 | 6 | 55 |
Net expected loss to be paid (recovered), end of period | $ 117 | $ 225 | $ 117 | $ 225 | $ 110

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