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Derivative Instruments (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2011

Dec. 31, 2010

Summary Of Credit Derivatives Sold

			000000				000000				000000				000000				000000				000000				000000				000000
In millions						Notional Value
Credit Derivatives Sold		Weighted Average Remaining Expected Maturity				AAA				AA				A				BBB				Below BBB				Total Notional				Fair Value Asset (Liability)
Principal protection guarantees			0.5 Years			$	4,995			$	-			$	-			$	-			$	-			$	4,995			$	-
Total notional						$	4,995			$	-			$	-			$	-			$	-			$	4,995			$	-
Total fair value						$	-			$	-			$	-			$	-			$	-							$	-

			000000				000000				000000				000000				000000				000000				000000				000000
In millions						Notional Value
Credit Derivatives Sold		Weighted Average Remaining Expected Maturity				AAA				AA				A				BBB				Below BBB				Total Notional				Fair Value Asset (Liability)
Principal protection guarantees			1.0 Years			$	4,237			$	-			$	-			$	-			$	-			$	4,237			$	-
Total notional						$	4,237			$	-			$	-			$	-			$	-			$	4,237			$	-
Total fair value						$	-			$	-			$	-			$	-			$	-							$	-

Schedule Of Total Fair Value Of Company's Derivative Assets And Liabilities By Instrument And Balance Sheet Location

In millions						Derivative Assets(1)						Derivative Liabilities(1)
Derivative Instruments		Notional Amount   Outstanding				Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Designated as hedging instruments:
Interest rate swaps		$	290			Derivative assets		$	5			Derivative liabilities		$	(29)
Total designated		$	290					$	5					$	(29)
Not designated as hedging instruments:
Insured credit default swaps		$	92,161			Derivative assets		$	-			Derivative liabilities		$	(5,595)
Insured swaps			8,090			Derivative assets			-			Derivative liabilities			(10)
Non-insured credit default swaps			35			Derivative assets			1			Derivative liabilities			-
Non-insured credit default swaps-VIE			3,681			Derivative assets-VIE			670			Derivative liabilities-VIE			(1,590)
Interest rate swaps			3,014			Derivative assets			37			Derivative liabilities			(255)
Interest rate swaps-VIE			12,921			Derivative assets-VIE			1			Derivative liabilities-VIE			(554)
Interest rate swaps - embedded			529			Medium-term notes			4			Medium-term notes			(8)
Interest rate swaps - embedded-VIE			33			Other assets-VIE			-			Other liabilities-VIE			-
Currency swaps			71			Derivative assets			-			Derivative liabilities			(11)
Currency swaps-VIE			129			Derivative assets-VIE			-			Derivative liabilities-VIE			(16)
All other			5,289			Derivative assets			-			Derivative liabilities			(74)
All other-VIE			481			Derivative assets-VIE			9			Derivative liabilities-VIE			-
All other - embedded			190			Other investments			-			Other investments			(8)
Total non-designated		$	126,624					$	722					$	(8,121)
Total derivatives		$	126,914					$	727					$	(8,150)

(1) - In accordance with the accounting guidance for derivative instruments and hedging activities, the balance sheet location of the Company's embedded derivative instruments is determined by the location of the related host contract.

In millions						Derivative Assets(1)						Derivative Liabilities(1)
Derivative Instruments		Notional Amount   Outstanding				Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value
Designated as hedging instruments:
Interest rate swaps		$	394			Derivative assets		$	16			Derivative liabilities		$	(41)
Currency swaps			20			Derivative assets			-			Derivative liabilities			(2)
Total designated		$	414					$	16					$	(43)
Not designated as hedging instruments:
Insured credit default swaps		$	99,331			Derivative assets		$	-			Derivative liabilities		$	(4,325)
Insured swaps			10,537			Derivative assets			-			Derivative liabilities			(11)
Non-insured credit default swaps			35			Derivative assets			3			Derivative liabilities			-
Non-insured credit default swaps-VIE			3,973			Derivative assets-VIE			687			Derivative liabilities-VIE			(1,455)
Interest rate swaps			3,480			Derivative assets			46			Derivative liabilities			(255)
Interest rate swaps-VIE			14,054			Derivative assets-VIE			2			Derivative liabilities-VIE			(634)
Interest rate swaps - embedded			493			Medium-term notes			5			Medium-term notes			(7)
Interest rate swaps - embedded-VIE			100			Other assets-VIE			-			Other liabilities-VIE			(1)
Currency swaps			47			Derivative assets			-			Derivative liabilities			(4)
Currency swaps-VIE			137			Derivative assets-VIE			-			Derivative liabilities-VIE			(14)
All other			4,644			Derivative assets			-			Derivative liabilities			(40)
All other-VIE			592			Derivative assets-VIE			10			Derivative liabilities-VIE			-
All other - embedded			219			Other investments			-			Other investments			(9)
Total non-designated		$	137,642					$	753					$	(6,755)
Total derivatives		$	138,056					$	769					$	(6,798)

(1) - In accordance with the accounting guidance for derivative instruments and hedging activities, the balance sheet location of the Company's embedded derivative instruments is determined by the location of the related host contract.

Summary Of Effect Of Derivative Instruments On Consolidated Statement Of Operations

In millions
Derivatives in Fair Value Hedging Relationships		Location of Gain (Loss) Recognized in Income on Derivative		Gain (Loss) Recognized in Income on Derivative				Gain (Loss) Recognized in Income on Hedged Item				Net Gain (Loss) Recognized in Income
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange		$	8			$	(8)			$	-
Interest rate swaps		Interest income (expense)			-				-				(3)
Total				$	8			$	(8)			$	(3)

		000000000000000000000			000000000000000000000
In millions
Derivatives Not Designated as Hedging Instruments		Location of Gain (Loss) Recognized in Income on Derivative		Net Gain (Loss) Recognized in Income
Insured credit default swaps		Unrealized gains (losses) on insured derivatives		$	140
Insured credit default swaps		Realized gains (losses) and other settlements on insured derivatives			(191	)
Non-insured credit default swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(1	)
Non-insured credit default swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			7
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(53	)
Interest rate swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(22	)
Currency swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(2	)
Currency swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(4	)
All other		Unrealized gains (losses) on insured derivatives			(24	)
All other		Net gains (losses) on financial instruments at fair value and foreign exchange			1
All other-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			1
Total				$	(148	)

In millions
Derivatives in Fair Value Hedging Relationships		Location of Gain (Loss) Recognized in Income on Derivative		Gain (Loss) Recognized in Income on Derivative				Gain (Loss) Recognized in Income on Hedged Item				Net Gain (Loss) Recognized in Income
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange		$	1			$	(1)			$	-
Interest rate swaps		Interest income (expense)			-				-				(2)
Currency swaps		Interest income (expense)			-				-				1
Total				$	1			$	(1)			$	(1)

		000000000000000000000			000000000000000000000
In millions
Derivatives Not Designated as Hedging Instruments		Location of Gain (Loss) Recognized in Income on Derivative		Net Gain (Loss) Recognized in Income
Insured credit default swaps		Unrealized gains (losses) on insured derivatives		$	1,528
Insured credit default swaps		Realized gains (losses) and other settlements on insured derivatives			(64	)
Insured swaps		Unrealized gains (losses) on insured derivatives			1
Non-insured credit default swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			2
Non-insured credit default swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(21	)
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(84	)
Interest rate swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(53	)
Credit linked notes		Net gains (losses) on financial instruments at fair value and foreign exchange			11
Currency swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(23	)
All other		Unrealized gains (losses) on insured derivatives			9
All other		Net gains (losses) on financial instruments at fair value and foreign exchange			4
All other-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(2	)
Total				$	1,308

In millions
Derivatives in Fair Value Hedging Relationships		Location of Gain (Loss) Recognized in Income on Derivative		Gain (Loss) Recognized in Income on Derivative				Gain (Loss) Recognized in Income on Hedged Item				Net Gain (Loss) Recognized in Income
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange		$	2			$	(2)			$	-
Interest rate swaps		Interest income (expense)			-				-				(5)
Currency swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			2				(2)				-
Total				$	4			$	(4)			$	(5)

		000000000000000000000			000000000000000000000
In millions
Derivatives Not Designated as Hedging Instruments		Location of Gain (Loss) Recognized in Income on Derivative		Net Gain (Loss) Recognized in Income
Insured credit default swaps		Unrealized gains (losses) on insured derivatives		$	(1,272	)
Insured credit default swaps		Realized gains (losses) and other settlements on insured derivatives			(546	)
Non-insured credit default swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(2	)
Non-insured credit default swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(150	)
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(51	)
Interest rate swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			49
Currency swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(7	)
Currency swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(2	)
All other		Unrealized gains (losses) on insured derivatives			(35	)
All other-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(1	)
Total				$	(2,017	)

In millions
Derivatives in Fair Value Hedging Relationships		Location of Gain (Loss) Recognized in Income on Derivative		Gain (Loss) Recognized in Income on Derivative				Gain (Loss) Recognized in Income on Hedged Item				Net Gain (Loss) Recognized in Income
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange		$	(41)			$	41			$	-
Interest rate swaps		Interest income (expense)			-				-				(1)
Total				$	(41)			$	41			$	(1)

		000000000000000000000			000000000000000000000
In millions
Derivatives Not Designated as Hedging Instruments		Location of Gain (Loss) Recognized in Income on Derivative		Net Gain (Loss) Recognized in Income
Insured credit default swaps		Unrealized gains (losses) on insured derivatives		$	(665	)
Insured credit default swaps		Realized gains (losses) and other settlements on insured derivatives			(98	)
Non-insured credit default swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			1
Non-insured credit default swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(3	)
Interest rate swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(124	)
Interest rate swaps-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(85	)
Credit linked notes		Net gains (losses) on financial instruments at fair value and foreign exchange			18
Currency swaps		Net gains (losses) on financial instruments at fair value and foreign exchange			(36	)
All other		Unrealized gains (losses) on insured derivatives			(8	)
All other		Net gains (losses) on financial instruments at fair value and foreign exchange			(8	)
All other-VIE		Net gains (losses) on financial instruments at fair value and foreign exchange-VIE			(9	)
Total				$	(1,017	)

MBIA [Member]

Summary Of Credit Derivatives Sold

			00000000				00000000				00000000				00000000				00000000				00000000				00000000				00000000
In millions						Notional Value
Credit Derivatives Sold		Weighted Average Remaining Expected Maturity				AAA				AA				A				BBB				Below BBB				Total Notional				Fair Value Asset (Liability)
Insured credit default swaps			6.2 Years			$	16,403			$	17,385			$	9,057			$	17,172			$	32,144			$	92,161			$	(5,595)
Non-insured credit default swaps-VIE			4.3 Years				-				-				-				-				2,558				2,558				(1,590)
Insured swaps			18.9 Years				-				302				4,360				3,274				153				8,089				(10)
All others			3.3 Years				-				-				-				-				195				195				(73)
Total notional						$	16,403			$	17,687			$	13,417			$	20,446			$	35,050			$	103,003
Total fair value						$	(56)			$	(133)			$	(175)			$	(1,135)			$	(5,769)							$	(7,268)

			00000000				00000000				00000000				00000000				00000000				00000000				00000000				00000000
In millions						Notional Value
Credit Derivatives Sold		Weighted Average Remaining Expected Maturity				AAA				AA				A				BBB				Below BBB				Total Notional				Fair Value Asset (Liability)
Insured credit default swaps			7.6 Years			$	20,721			$	18,530			$	11,323			$	15,356			$	33,377			$	99,307			$	(4,325)
Non-insured credit default swaps-VIE			4.8 Years				-				-				-				-				2,612				2,612				(1,455)
Insured swaps			16.6 Years				-				321				4,801				4,740				676				10,538				(11)
All others			8.5 Years				-				-				113				-				195				308				(39)
Total notional						$	20,721			$	18,851			$	16,237			$	20,096			$	36,860			$	112,765
Total fair value						$	(41)			$	(86)			$	(315)			$	(477)			$	(4,911)							$	(5,830)

X

- Definition

Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Credit Derivative
-URI http://asc.fasb.org/extlink&oid=6854095

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- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 205G
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

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-Publisher FASB
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