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Fair Value Of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2012
Quantitative Information Regarding Significant Unobservable Inputs For Assets And Liabilities Measured At Fair Value On Recurring Basis |
In millions |  | Fair Value as of December 31, 2012 |  |  | Valuation Techniques |  | Unobservable Input |  | Range (Weighted Average) |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
Loans receivable at fair value |  | $ | 1,881 |  |  | Quoted market prices adjusted for financial guarantees provided to VIE obligations |  | Impact of financial guarantee |  |  | 0% – 14%(3% | )
Loan repurchase commitments |  |  | 1,086 |  |  | Discounted cash flow |  | Recovery rates |  |  | 10% – 75%(47% | )
|  |  |  |  |  |  |  | Breach rates |  |  | 66% – 94%(78%) |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
Variable interest entity notes |  |  | 1,932 |  |  | Quoted market prices of VIE assets adjusted for financial guarantees provided |  | Impact of financial guarantee |  |  | 0% – 23%(6% | )
Credit derivative liabilities, net: |  |  |  |  |  |  |  |  |  |  |  |
CMBS |  |  | 1,590 |  |  | BET Model |  | Recovery rates |  |  | 21% – 90%(51% | )
|  |  |  |  |  |  |  | Nonperformance risk |  |  | 19% – 59%(58%) |
|  |  |  |  |  |  |  | Weighted average life (in years) |  |  | 0.1 – 5.6(4.4) |
|  |  |  |  |  |  |  | CMBS spreads |  |  | 1% – 23%(13%) |
Multi-sector CDO |  |  | 525 |  |  | Direct Price Model |  | Nonperformance risk |  |  | 59% – 59%(59% | )
Other |  |  | 806 |  |  | BET Model |  | Recovery rates |  |  | 42% – 75%(47% | )
|  |  |  |  |  |  |  | Nonperformance risk |  |  | 42% – 59%(58%) |
|  |  |  |  |  |  |  | Weighted average life (in years) |  |  | 0.1 – 19.6(3.0) |
Company's Assets And Liabilities Measured At Fair Value On Recurring Basis |
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Counterparty and Cash Collateral Netting |  |  | Balance as of December 31, 2012 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 784 |  |  | $ | 100 |  |  | $ | — |  |  | $ | — |  |  | $ | 884 |
State and municipal bonds |  |  | — |  |  |  | 1,429 |  |  |  | 103 | (1) |  |  | — |  |  |  | 1,532 |
Foreign governments |  |  | 86 |  |  |  | 107 |  |  |  | 3 | (1) |  |  | — |  |  |  | 196 |
Corporate obligations |  |  | — |  |  |  | 1,140 |  |  |  | 76 | (1) |  |  | — |  |  |  | 1,216 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | — |  |  |  | 988 |  |  |  | — |  |  |  | — |  |  |  | 988 |
Residential mortgage-backed non-agency |  |  | — |  |  |  | 94 |  |  |  | 4 | (1) |  |  | — |  |  |  | 98 |
Commercial mortgage-backed |  |  | — |  |  |  | 20 |  |  |  | 28 | (1) |  |  | — |  |  |  | 48 |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | — |  |  |  | 65 |  |  |  | 31 | (1) |  |  | — |  |  |  | 96 |
Other asset-backed |  |  | — |  |  |  | 119 |  |  |  | 26 | (1) |  |  | — |  |  |  | 145 |
Total fixed-maturity investments |  |  | 870 |  |  |  | 4,062 |  |  |  | 271 |  |  |  | — |  |  |  | 5,203 |
Money market securities |  |  | 585 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 593 |
Equity securities |  |  | 23 |  |  |  | 20 |  |  |  | 14 | (1) |  |  | — |  |  |  | 57 |
Cash and cash equivalents |  |  | 814 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 814 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | — |  |  |  | 89 |  |  |  | 5 | (1) |  |  | (90) |  |  |  | 4 |
Total derivative assets |  |  | — |  |  |  | 89 |  |  |  | 5 |  |  |  | (90) |  |  |  | 4 |
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Counterparty and Cash Collateral Netting |  |  | Balance as of December 31, 2012 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State and municipal bonds |  |  | — |  |  |  | 41 |  |  |  | — |  |  |  | — |  |  |  | 41 |
Corporate obligations |  |  | — |  |  |  | 215 |  |  |  | 78 | (1) |  |  | — |  |  |  | 293 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed non-agency |  |  | — |  |  |  | 869 |  |  |  | 6 | (1) |  |  | — |  |  |  | 875 |
Commercial mortgage-backed |  |  | — |  |  |  | 410 |  |  |  | 7 | (1) |  |  | — |  |  |  | 417 |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | — |  |  |  | 215 |  |  |  | 125 | (1) |  |  | — |  |  |  | 340 |
Other asset-backed |  |  | — |  |  |  | 120 |  |  |  | 64 | (1) |  |  | — |  |  |  | 184 |
Money market securities |  |  | 210 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 210 |
Cash |  |  | 176 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 176 |
Loans receivable |  |  | — |  |  |  | — |  |  |  | 1,881 |  |  |  | — |  |  |  | 1,881 |
Loan repurchase commitments |  |  | — |  |  |  | — |  |  |  | 1,086 |  |  |  | — |  |  |  | 1,086 |
Total assets |  | $ | 2,678 |  |  | $ | 6,049 |  |  | $ | 3,537 |  |  | $ | (90) |  |  | $ | 12,174 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | — |  |  | $ | — |  |  | $ | 165 | (1) |  | $ | — |  |  | $ | 165 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit derivatives |  |  | — |  |  |  | 13 |  |  |  | 2,921 |  |  |  | — |  |  |  | 2,934 |
Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | — |  |  |  | 287 |  |  |  | 4 | (1) |  |  | (293) |  |  |  | (2) |
Currency derivatives |  |  | — |  |  |  | 1 |  |  |  | 1 | (1) |  |  | — |  |  |  | 2 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 6 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable interest entity notes |  |  | — |  |  |  | 1,727 |  |  |  | 1,932 |  |  |  | — |  |  |  | 3,659 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | — |  |  |  | 141 |  |  |  | — |  |  |  | — |  |  |  | 141 |
Currency derivatives |  |  | — |  |  |  | — |  |  |  | 21 | (1) |  |  | — |  |  |  | 21 |
Total liabilities |  | $ | — |  |  | $ | 2,175 |  |  | $ | 5,044 |  |  | $ | (293) |  |  | $ | 6,926 |
(1)—Unobservable inputs are either not developed by the Company or do not significantly impact the overall fair values of the aggregate financial assets and liabilities.
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Counterparty and Cash Collateral Netting |  |  | Balance as of December 31, 2011 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and government agency |  | $ | 1,038 |  |  | $ | 103 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,141 |
State and municipal bonds |  |  | — |  |  |  | 2,061 |  |  |  | 28 |  |  |  | — |  |  |  | 2,089 |
Foreign governments |  |  | 277 |  |  |  | 62 |  |  |  | 11 |  |  |  | — |  |  |  | 350 |
Corporate obligations |  |  | 1 |  |  |  | 1,531 |  |  |  | 207 |  |  |  | — |  |  |  | 1,739 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | — |  |  |  | 1,276 |  |  |  | — |  |  |  | — |  |  |  | 1,276 |
Residential mortgage-backed non-agency |  |  | — |  |  |  | 350 |  |  |  | 17 |  |  |  | — |  |  |  | 367 |
Commercial mortgage-backed |  |  | — |  |  |  | 34 |  |  |  | 32 |  |  |  | — |  |  |  | 66 |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | — |  |  |  | 78 |  |  |  | 60 |  |  |  | — |  |  |  | 138 |
Other asset-backed |  |  | — |  |  |  | 130 |  |  |  | 317 |  |  |  | — |  |  |  | 447 |
Total fixed-maturity investments |  |  | 1,316 |  |  |  | 5,625 |  |  |  | 672 |  |  |  | — |  |  |  | 7,613 |
Money market securities |  |  | 912 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 912 |
Equity securities |  |  | 25 |  |  |  | 121 |  |  |  | 11 |  |  |  | — |  |  |  | 157 |
Cash and cash equivalents |  |  | 473 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 473 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit derivatives |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | 1 |
Interest rate derivatives |  |  | — |  |  |  | 91 |  |  |  | 3 |  |  |  | — |  |  |  | 94 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (93) |  |  |  | (93) |
Total derivative assets |  |  | — |  |  |  | 92 |  |  |  | 3 |  |  |  | (93) |  |  |  | 2 |
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Counterparty and Cash Collateral Netting |  |  | Balance as of December 31, 2011 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | — |  |  |  | 170 |  |  |  | 69 |  |  |  | — |  |  |  | 239 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage-backed agency |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 3 |
Residential mortgage-backed non-agency |  |  | — |  |  |  | 1,437 |  |  |  | 21 |  |  |  | — |  |  |  | 1,458 |
Commercial mortgage-backed |  |  | — |  |  |  | 559 |  |  |  | 22 |  |  |  | — |  |  |  | 581 |
Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collateralized debt obligations |  |  | — |  |  |  | 330 |  |  |  | 203 |  |  |  | — |  |  |  | 533 |
Other asset-backed |  |  | — |  |  |  | 236 |  |  |  | 67 |  |  |  | — |  |  |  | 303 |
Money market securities |  |  | 199 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 199 |
Cash |  |  | 160 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 160 |
Loans receivable |  |  | — |  |  |  | — |  |  |  | 2,046 |  |  |  | — |  |  |  | 2,046 |
Loan repurchase commitments |  |  | — |  |  |  | — |  |  |  | 1,077 |  |  |  | — |  |  |  | 1,077 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit derivatives |  |  | — |  |  |  | — |  |  |  | 447 |  |  |  | — |  |  |  | 447 |
Interest rate derivatives |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 3 |
Total assets |  | $ | 3,085 |  |  | $ | 8,576 |  |  | $ | 4,638 |  |  | $ | (93) |  |  | $ | 16,206 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | — |  |  | $ | — |  |  | $ | 165 |  |  | $ | — |  |  | $ | 165 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit derivatives |  |  | — |  |  |  | 18 |  |  |  | 4,790 |  |  |  | — |  |  |  | 4,808 |
Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives |  |  | — |  |  |  | 445 |  |  |  | — |  |  |  | — |  |  |  | 445 |
Currency derivatives |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | 4 |
Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (93) |  |  |  | (93) |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrants |  |  | — |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | 38 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable interest entity notes |  |  | — |  |  |  | 1,865 |  |  |  | 2,889 |  |  |  | — |  |  |  | 4,754 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit derivatives |  |  | — |  |  |  | — |  |  |  | 527 |  |  |  | — |  |  |  | 527 |
Interest rate derivatives |  |  | — |  |  |  | 281 |  |  |  | — |  |  |  | — |  |  |  | 281 |
Currency derivatives |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | 17 |
Total liabilities |  | $ | — |  |  | $ | 2,651 |  |  | $ | 8,388 |  |  | $ | (93) |  |  | $ | 10,946 |
Fair Value And Carrying Value Of Assets And Liabilities That Are Disclosed At Fair Value But Not Reported At Fair Value On Company's Consolidated Balance Sheets |
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value Balance as of December 31, 2012 |  |  | Carry Value Balance as of December 31, 2012 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | 9 |
Accrued investment income(1) |  |  | 43 |  |  |  | — |  |  |  | — |  |  |  | 43 |  |  |  | 43 |
Receivable for investments sold(1) |  |  | 17 |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | 17 |
Net cash collateral pledged(1) |  |  | 66 |  |  |  | — |  |  |  | — |  |  |  | 66 |  |  |  | 66 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments held-to-maturity |  |  | — |  |  |  | — |  |  |  | 2,674 |  |  |  | 2,674 |  |  |  | 2,829 |
Total assets |  | $ | 126 |  |  | $ | — |  |  | $ | 2,683 |  |  | $ | 2,809 |  |  | $ | 2,964 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment agreements |  | $ | — |  |  | $ | — |  |  | $ | 1,175 |  |  | $ | 1,175 |  |  | $ | 944 |
Medium-term notes |  |  | — |  |  |  | — |  |  |  | 1,026 |  |  |  | 1,026 |  |  |  | 1,598 |
Long-term debt |  |  | — |  |  |  | 692 |  |  |  | — |  |  |  | 692 |  |  |  | 1,662 |
Payable for investments purchased(2) |  |  | 50 |  |  |  | — |  |  |  | — |  |  |  | 50 |  |  |  | 50 |
Accrued interest expense(2) |  |  | 9 |  |  |  | 10 |  |  |  | — |  |  |  | 19 |  |  |  | 70 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable interest entity notes |  |  | — |  |  |  | — |  |  |  | 3,147 |  |  |  | 3,147 |  |  |  | 3,465 |
Total liabilities |  | $ | 59 |  |  | $ | 702 |  |  | $ | 5,348 |  |  | $ | 6,109 |  |  | $ | 7,789 |
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | — |  |  | $ | — |  |  | $ | 650 |  |  | $ | 650 |  |  | $ | 143 |
Ceded |  |  | — |  |  |  | — |  |  |  | 97 |  |  |  | 97 |  |  |  | 91 |
(1)—Reported within “Other assets” on MBIA’s consolidated balance sheets. (2)—Reported within “Other liabilities” on MBIA’s consolidated balance sheets.
|  | Fair Value Measurements at Reporting Date Using |  |  |  |
In millions |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value Balance as of December 31, 2011 |  |  | Carry Value Balance as of December 31, 2011 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other investments |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | 11 |  |  | $ | 11 |
Accrued investment income(1) |  |  | 63 |  |  |  | — |  |  |  | — |  |  |  | 63 |  |  |  | 63 |
Receivable for investments sold(1) |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | 32 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments held-to-maturity |  |  | — |  |  |  | — |  |  |  | 3,489 |  |  |  | 3,489 |  |  |  | 3,843 |
Total assets |  | $ | 95 |  |  | $ | — |  |  | $ | 3,500 |  |  | $ | 3,595 |  |  | $ | 3,949 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment agreements |  | $ | — |  |  | $ | — |  |  | $ | 1,853 |  |  | $ | 1,853 |  |  | $ | 1,578 |
Medium-term notes |  |  | — |  |  |  | — |  |  |  | 1,187 |  |  |  | 1,187 |  |  |  | 1,491 |
Securities sold under agreements to repurchase |  |  | — |  |  |  | 286 |  |  |  | — |  |  |  | 286 |  |  |  | 287 |
Long-term debt |  |  | — |  |  |  | 1,117 |  |  |  | — |  |  |  | 1,117 |  |  |  | 1,840 |
Payable for investments purchased(2) |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | 3 |
Accrued interest payable(2) |  |  | 10 |  |  |  | 61 |  |  |  | — |  |  |  | 71 |  |  |  | 71 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable interest entity notes |  |  | — |  |  |  | — |  |  |  | 3,297 |  |  |  | 3,297 |  |  |  | 3,943 |
Long-term debt |  |  | — |  |  |  | — |  |  |  | 368 |  |  |  | 368 |  |  |  | 360 |
Total liabilities |  | $ | 13 |  |  | $ | 1,464 |  |  | $ | 6,705 |  |  | $ | 8,182 |  |  | $ | 9,573 |
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross |  | $ | — |  |  | $ | — |  |  | $ | 1,451 |  |  | $ | 1,451 |  |  | $ | 1,305 |
Ceded |  |  | — |  |  |  | — |  |  |  | 94 |  |  |  | 94 |  |  |  | 104 |
(1)—Reported within “Other assets” on MBIA’s consolidated balance sheets. (2)—Reported within “Other liabilities” on MBIA’s consolidated balance sheets.
Changes In Level 3 Assets And Liabilities Measured At Fair Value On Recurring Basis | Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2012
In millions |  | Balance, Beginning of Year |  |  | Realized Gains / (Losses) |  |  | Unrealized Gains / (Losses) Included in Earnings |  |  | Unrealized Gains / (Losses) Included in OCI |  |  | Foreign Exchange Recognized in OCI or Earnings |  |  | Purchases |  |  | Issuances |  |  | Settlements |  |  | Sales |  |  | Transfers into Level 3(1) |  |  | Transfers out of Level 3(1) |  |  | Ending Balance |  |  | Change in Unrealized Gains (Losses) for the Period Included in Earnings for Assets still held as of December 31, 2012 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 21 |  |  | $ | — |  |  | $ | (29) |  |  | $ | (4) |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |
Corporate obligations |  |  | 207 |  |  |  | (15) |  |  |  | 10 |  |  |  | 27 |  |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | (29) |  |  |  | (141) |  |  |  | 25 |  |  |  | (25) |  |  |  | 76 |  |  |  | 9 |
Residential mortgage— backed agency |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | (4) |  |  |  | — |  |  |  | — |
Residential mortgage— backed non-agency |  |  | 17 |  |  |  | (1) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13) |  |  |  | (5) |  |  |  | 31 |  |  |  | (25) |  |  |  | 4 |  |  |  | — |
Commercial mortgage-backed |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | (12) |  |  |  | 28 |  |  |  | — |
Collateralized debt obligations |  |  | 60 |  |  |  | (9) |  |  |  | — |  |  |  | 20 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | (15) |  |  |  | (10) |  |  |  | 18 |  |  |  | (34) |  |  |  | 31 |  |  |  | — |
Other asset-backed |  |  | 317 |  |  |  | (46) |  |  |  | — |  |  |  | 73 |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | (29) |  |  |  | (285) |  |  |  | 4 |  |  |  | (11) |  |  |  | 26 |  |  |  | — |
State and municipal bonds |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | (1) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7) |  |  |  | — |  |  |  | 83 |  |  |  | — |  |  |  | 103 |  |  |  | — |
Equity securities |  |  | 11 |  |  |  | — |  |  |  | 1 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | (3) |  |  |  | 14 |  |  |  | — |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 69 |  |  |  | — |  |  |  | (19) |  |  |  | (6) |  |  |  | — |  |  |  | 27 |  |  |  | — |  |  |  | (5) |  |  |  | — |  |  |  | 15 |  |  |  | (3) |  |  |  | 78 |  |  |  | 3 |
Residential mortgage— backed non-agency |  |  | 21 |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7) |  |  |  | (16) |  |  |  | 6 |  |  |  | (4) |  |  |  | 6 |  |  |  | 3 |
Commercial mortgage-backed |  |  | 22 |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4) |  |  |  | (9) |  |  |  | 5 |  |  |  | (11) |  |  |  | 7 |  |  |  | 1 |
Collateralized debt obligations |  |  | 203 |  |  |  | — |  |  |  | (25) |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12) |  |  |  | (74) |  |  |  | 56 |  |  |  | (25) |  |  |  | 125 |  |  |  | 5 |
Other asset-backed |  |  | 67 |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | (11) |  |  |  | (36) |  |  |  | 34 |  |  |  | — |  |  |  | 64 |  |  |  | 7 |
Loans receivable |  |  | 2,046 |  |  |  | — |  |  |  | 114 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (277) |  |  |  | (2) |  |  |  | — |  |  |  | — |  |  |  | 1,881 |  |  |  | 114 |
Loan repurchase commitments |  |  | 1,077 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,086 |  |  |  | 9 |
Total assets |  | $ | 4,188 |  |  | $ | (71) |  |  | $ | 106 |  |  | $ | 123 |  |  | $ | 1 |  |  | $ | 74 |  |  | $ | — |  |  | $ | (438) |  |  | $ | (582) |  |  | $ | 288 |  |  | $ | (157) |  |  | $ | 3,532 |  |  | $ | 151 |
In millions |  | Balance, Beginning of Year |  |  | Realized (Gains) / Losses |  |  | Unrealized (Gains) / Losses Included in Earnings |  |  | Unrealized (Gains) / Losses Included in OCI |  |  | Foreign Exchange Recognized in OCI or Earnings |  |  | Purchases |  |  | Issuances |  |  | Settlements |  |  | Sales |  |  | Transfers into Level 3(1) |  |  | Transfers out of Level 3(1) |  |  | Ending Balance |  |  | Change in Unrealized (Gains) Losses for the Period Included in Earnings for Liabilities still held as of December 31, 2012 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 165 |  |  | $ | — |  |  | $ | (3) |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 165 |  |  | $ | (3) |
Credit derivatives, net |  |  | 4,790 |  |  |  | 464 |  |  |  | (1,869) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (464) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,921 |  |  |  | (927) |
Interest rate derivatives, net |  |  | (3) |  |  |  | — |  |  |  | (2) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | (1) |  |  |  | 18 |
Currency derivatives, net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 2,889 |  |  |  | — |  |  |  | 465 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (439) |  |  |  | (983) |  |  |  | — |  |  |  | — |  |  |  | 1,932 |  |  |  | 409 |
Credit derivatives, net |  |  | 80 |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (82) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Currency derivatives, net |  |  | 17 |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |  |  |  | 4 |
Total liabilities |  | $ | 7,938 |  |  | $ | 464 |  |  | $ | (1,403) |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | (903) |  |  | $ | (1,065) |  |  | $ | 5 |  |  | $ | — |  |  | $ | 5,039 |  |  | $ | (499) |
(1)—Transferred in and out at the end of the period. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2011
In millions |  | Balance, Beginning of Year |  |  | Realized Gains / (Losses) |  |  | Unrealized Gains / (Losses) Included in Earnings |  |  | Unrealized Gains / (Losses) Included in OCI |  |  | Foreign Exchange Recognized in OCI or Earnings |  |  | Purchases |  |  | Issuances |  |  | Settlements |  |  | Sales |  |  | Transfers into Level 3(1) |  |  | Transfers out of Level 3(1) |  |  | Ending Balance |  |  | Change in Unrealized Gains (Losses) for the Period Included in Earnings for Assets still held as of December 31, 2011 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (7) |  |  | $ | 13 |  |  | $ | — |  |  | $ | (5) |  |  | $ | (1) |  |  | $ | 7 |  |  | $ | (7) |  |  | $ | 11 |  |  | $ | — |
Corporate obligations |  |  | 246 |  |  |  | (4) |  |  |  | — |  |  |  | (8) |  |  |  | 7 |  |  |  | 20 |  |  |  | — |  |  |  | (127) |  |  |  | (61) |  |  |  | 166 |  |  |  | (32) |  |  |  | 207 |  |  |  | — |
Residential mortgage— backed agency |  |  | 41 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | (1) |  |  |  | (2) |  |  |  | — |  |  |  | (41) |  |  |  | — |  |  |  | — |
Residential mortgage— backed non-agency |  |  | 48 |  |  |  | (2) |  |  |  | — |  |  |  | 10 |  |  |  | 2 |  |  |  | 12 |  |  |  | — |  |  |  | (22) |  |  |  | (18) |  |  |  | 10 |  |  |  | (23) |  |  |  | 17 |  |  |  | — |
Commercial mortgage-backed |  |  | 41 |  |  |  | (2) |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 9 |  |  |  | — |  |  |  | (3) |  |  |  | (21) |  |  |  | 8 |  |  |  | (1) |  |  |  | 32 |  |  |  | — |
Collateralized debt obligations |  |  | 192 |  |  |  | (4) |  |  |  | — |  |  |  | 25 |  |  |  | 2 |  |  |  | 6 |  |  |  | 3 |  |  |  | (114) |  |  |  | (4) |  |  |  | 50 |  |  |  | (96) |  |  |  | 60 |  |  |  | — |
Other asset-backed |  |  | 349 |  |  |  | (62) |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | (22) |  |  |  | (2) |  |  |  | 78 |  |  |  | (65) |  |  |  | 317 |  |  |  | — |
State and municipal bonds |  |  | 50 |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | (24) |  |  |  | (1) |  |  |  | — |  |  |  | — |  |  |  | 28 |  |  |  | — |
Equity securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 11 |  |  |  | — |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 82 |  |  |  | — |  |  |  | (17) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6) |  |  |  | — |  |  |  | 17 |  |  |  | (7) |  |  |  | 69 |  |  |  | (2) |
Residential mortgage— backed non-agency |  |  | 40 |  |  |  | — |  |  |  | (3) |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6) |  |  |  | (6) |  |  |  | 13 |  |  |  | (20) |  |  |  | 21 |  |  |  | — |
Commercial mortgage-backed |  |  | 23 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2) |  |  |  | (13) |  |  |  | 7 |  |  |  | (2) |  |  |  | 22 |  |  |  | 3 |
Collateralized debt obligations |  |  | 245 |  |  |  | — |  |  |  | (25) |  |  |  | (7) |  |  |  | — |  |  |  | 60 |  |  |  | — |  |  |  | (7) |  |  |  | (39) |  |  |  | 71 |  |  |  | (95) |  |  |  | 203 |  |  |  | 5 |
Other asset-backed |  |  | 81 |  |  |  | — |  |  |  | (10) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2) |  |  |  | (19) |  |  |  | 19 |  |  |  | (2) |  |  |  | 67 |  |  |  | (4) |
Loans receivable |  |  | 2,183 |  |  |  | — |  |  |  | 132 |  |  |  | — |  |  |  | — |  |  |  | 24 |  |  |  | — |  |  |  | (291) |  |  |  | (2) |  |  |  | — |  |  |  | — |  |  |  | 2,046 |  |  |  | 132 |
Loan repurchase commitments |  |  | 835 |  |  |  | — |  |  |  | 230 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,077 |  |  |  | 230 |
Total assets |  | $ | 4,467 |  |  | $ | (73) |  |  | $ | 316 |  |  | $ | 56 |  |  | $ | 5 |  |  | $ | 167 |  |  | $ | 15 |  |  | $ | (632) |  |  | $ | (189) |  |  | $ | 447 |  |  | $ | (391) |  |  | $ | 4,188 |  |  | $ | 364 |
In millions |  | Balance, Beginning of Year |  |  | Realized (Gains) / Losses |  |  | Unrealized (Gains) / Losses Included in Earnings |  |  | Unrealized (Gains) / Losses Included in OCI |  |  | Foreign Exchange Recognized in OCI or Earnings |  |  | Purchases |  |  | Issuances |  |  | Settlements |  |  | Sales |  |  | Transfers into Level 3(1) |  |  | Transfers out of Level 3(1) |  |  | Ending Balance |  |  | Change in Unrealized (Gains) Losses for the Period Included in Earnings for Liabilities still held as of December 31, 2011 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 116 |  |  | $ | — |  |  | $ | 78 |  |  | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | $ | — |  |  | $ | (25) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 165 |  |  | $ | 78 |
Credit derivatives, net |  |  | 4,350 |  |  |  | 2,477 |  |  |  | 440 |  |  |  | — |  |  |  | — |  |  |  | (8) |  |  |  | — |  |  |  | (2,477) |  |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | 4,790 |  |  |  | 2,702 |
Interest rate derivatives, net |  |  | (5) |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | (3) |  |  |  | 12 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 4,673 |  |  |  | — |  |  |  | 94 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (554) |  |  |  | (1,324) |  |  |  | — |  |  |  | — |  |  |  | 2,889 |  |  |  | 94 |
Credit derivatives, net |  |  | 768 |  |  |  | — |  |  |  | (11) |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (677) |  |  |  | — |  |  |  | — |  |  |  | 80 |  |  |  | (80) |
Currency derivatives, net |  |  | 14 |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | 3 |
Total liabilities |  | $ | 9,916 |  |  | $ | 2,477 |  |  | $ | 605 |  |  | $ | — |  |  | $ | (4) |  |  | $ | (8) |  |  | $ | — |  |  | $ | (3,056) |  |  | $ | (2,001) |  |  | $ | 9 |  |  | $ | — |  |  | $ | 7,938 |  |  | $ | 2,809 |
(1)—Transferred in and out at the end of the period.
Gains And Losses (Realized And Unrealized) Included In Earnings Relating To Level 3 Assets And Liabilities |
|  | Year Ended December 31, 2012 |
|  |  |  |  |  |  |  |  |  |  | Consolidated VIEs |
In millions |  | Unrealized Gains (Losses) on Insured Derivatives |  |  | Net Realized Gains (Losses) |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |
Total gains (losses) included in earnings |  | $ | 1,869 |  |  | $ | (547) |  |  | $ | 28 |  |  | $ | (376) |
Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2012 |  | $ | 927 |  |  | $ | — |  |  | $ | (6) |  |  | $ | (271) |
|  | Year Ended December 31, 2011 |
|  |  |  |  |  |  |  |  |  |  | Consolidated VIEs |
In millions |  | Unrealized Gains (Losses) on Insured Derivatives |  |  | Net Realized Gains (Losses) |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |
Total gains (losses) included in earnings |  | $ | (440) |  |  | $ | (2,550) |  |  | $ | (79) |  |  | $ | 230 |
Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2011 |  | $ | (2,702) |  |  | $ | — |  |  | $ | (90) |  |  | $ | 347 |
|  | Year Ended December 31, 2010 |
|  |  |  |  |  |  |  |  |  |  | Consolidated VIEs |
In millions |  | Unrealized Gains (Losses) on Insured Derivatives |  |  | Net Realized Gains (Losses) |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |  |  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |
Total gains (losses) included in earnings |  | $ | (609) |  |  | $ | (282) |  |  | $ | (11) |  |  | $ | (340) |
Change in unrealized gains (losses) for the period included in earnings for assets and liabilities still held as of December 31, 2010 |  | $ | (1,338) |  |  | $ | — |  |  | $ | (3) |  |  | $ | (395) |
Changes In Fair Value Included In Company's Consolidated Statements Of Operations |
|  | Net Gains (Losses) on Financial Instruments at Fair Value and Foreign Exchange |
In millions |  | 2012 |  |  | 2011 |  |  | 2010 |
Fixed-maturity securities held at fair value |  | $ | (55) |  |  | $ | (484) |  |  | $ | 374 |
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans |  |  | (107) |  |  |  | (143) |  |  |  | 295 |
Other loans |  |  | (56) |  |  |  | (19) |  |  |  | (26) |
Loan repurchase commitments |  |  | 9 |  |  |  | 242 |  |  |  | 336 |
Other assets |  |  | — |  |  |  | — |  |  |  | 26 |
Long-term debt |  |  | 107 |  |  |  | 594 |  |  |  | (661) |
Difference Between Aggregate Fair Value And Aggregate Remaining Contractual Principal Balance Outstanding |
|  | As of December 31, 2012 |  |  | As of December 31, 2011 |
In millions |  | Contractual Outstanding Principal |  |  | Fair Value |  |  | Difference |  |  | Contractual Outstanding Principal |  |  | Fair Value |  |  | Difference |
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage loans |  | $ | 2,307 |  |  | $ | 1,735 |  |  | $ | 572 |  |  | $ | 2,769 |  |  | $ | 1,895 |  |  | $ | 874 |
Residential mortgage loans (90 days or more past due) |  |  | 244 |  |  |  | 54 |  |  |  | 190 |  |  |  | 259 |  |  |  | — |  |  |  | 259 |
Other loans |  |  | 22 |  |  |  | 22 |  |  |  | — |  |  |  | 129 |  |  |  | 43 |  |  |  | 86 |
Other loans (90 days or more past due) |  |  | 197 |  |  |  | 70 |  |  |  | 127 |  |  |  | 324 |  |  |  | 108 |  |  |  | 216 |
Total loans receivable at fair value |  | $ | 2,770 |  |  | $ | 1,881 |  |  | $ | 889 |  |  | $ | 3,481 |  |  | $ | 2,046 |  |  | $ | 1,435 |
Variable interest entity notes |  | $ | 9,021 |  |  | $ | 3,659 |  |  | $ | 5,362 |  |  | $ | 13,583 |  |  | $ | 4,754 |  |  | $ | 8,829 |

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- Definition This element represents, for the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (net); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs). + References No definition available. + Details
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