XML 97 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Loans
 12 Months Ended
Dec. 31, 2012
Loans
10. LOANS

Loans had been extended: (i) by VIEs which are consolidated by Ambac under ASC Topic 810 as a result of Ambac’s financial guarantees of the VIEs’ note liabilities and/or assets, and (ii) to certain institutions in connection with various transactions. Loans by consolidated VIEs are generally carried at fair value on the Consolidated Balance Sheets. See Note 3 for further information about VIEs for which the assets and liabilities are carried at fair value. VIE loans carried at cost had a principal balance of $209,807 and $202,696 at December 31, 2012 and 2011. Interest rates on these loans ranged from 5.33% to 5.42% at both December 31, 2012 and 2011. The loans outstanding at December 31, 2012 and 2011 have a stated maturity of 2047. Collectability of these loans is evaluated individually on an ongoing basis in connection with the surveillance of the related financial guarantee transactions. No loan has been considered impaired and as such no loan impairments have been recorded as of December 31, 2012 or 2011.

Other loans had a combined outstanding principal balance of $9,203 and $18,996 at December 31, 2012 and 2011, respectively. Interest rates on these loans ranged from 4.67% to 7.00% at December 31, 2012 and 3.01% to 7.00% at December 31, 2011. The range of maturity dates of these loans is December 2013 to June 2026 as of December 31, 2012 and 2011. Collectability of these loans is evaluated individually on an ongoing basis; no loan has been considered impaired and as such no loan impairments have been recorded as of December 31, 2012 or 2011.