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Long-Term Debt (Notes) | 9 Months Ended
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Sep. 30, 2014
Debt Instrument [Line Items] |
Long-term Debt [Text Block] | LONG-TERM DEBT The carrying value of long-term debt was as follows:
|  | September 30, 2014 |  | December 31, 2013
Ambac Assurance Corporation: |  |  |  |
5.1% surplus notes, general account, due 2020 |  | $ | 934,812 |  |  | $ | 909,186 |
5.1% surplus notes, segregated account, due 2020 |  | 40,919 |  |  | 39,797 |
5.1% junior surplus notes, segregated account, due 2020 |  | 243,579 |  |  | 14,195 |
Ambac Assurance long-term debt |  | $ | 1,219,310 |  |  | $ | 963,178 |
Variable Interest Entities: |  |  |  |
Long-term debt |  | $ | 13,159,174 |  |  | $ | 14,091,753 |
At September 30, 2014 junior surplus notes, segregated account, due 2020 include $350,000 face amount that Ambac sold to a newly formed Trust on August 28, 2014 (as further described in Note 1). The notes were recorded at a discount to par based on their fair value on August 28, 2014. These junior surplus notes have a scheduled maturity of June 7, 2020, subject to restrictions including that principal and interest payments may not be made until other indebtedness is paid in full, which includes senior surplus notes and Segregated Account policy claims. Repayment of the junior surplus notes is also subject to the approval of the Wisconsin Office of the Commissioner of Insurance (“OCI”). Ambac is accreting the discount on the junior surplus notes into earnings using the effective interest method, based on an imputed interest rate of 8.38%.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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