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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2013
Text Block [Abstract] |
Quantitative Information Regarding The Significant Unobservable Inputs For Certain Assets And Liabilities Measured At Fair Value On A Recurring Basis |
|  |  | Fair Value |  |  |  |  |  |  |
|  |  | as of |  |  |  |  |  | Range |
|  |  | June 30, |  |  |  |  |  | (Weighted |
In millions |  | 2013 |  | Valuation Techniques |  | Unobservable Input |  | Average) |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |
| Loans receivable at fair value |  | $ | 1,790 |  | Quoted market prices adjusted for financial |  | Impact of financial guarantee |  | 0% - 18% (4%) |
|  |  |  |  |  | guarantees provided to VIE obligations |  |  |  |  |
| Loan repurchase commitments |  |  | 1,115 |  | Discounted cash flow |  | Recovery rates |  | 10% - 66% (34%) |
|  |  |  |  |  |  |  | Breach rates |  | 67% - 92% (77%) |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 824 |  | Quoted market prices of VIE assets |  | Impact of financial guarantee |  | 0% - 29% (10%) |
|  |  |  |  |  | adjusted for financial guarantees provided |  |  |  |  |
Credit derivative liabilities, net: |  |  |  |  |  |  |  |  |  |
| CMBS |  |  | 1,024 |  | BET Model |  | Recovery rates |  | 25% - 90% (60%) |
|  |  |  |  |  |  |  | Nonperformance risk |  | 9% - 53% (23%) |
|  |  |  |  |  |  |  | Weighted average life (in years) |  | 1.6 - 28.5 (3.8) |
|  |  |  |  |  |  |  | CMBS spreads |  | 1.2% - 25.3% (12%) |
| Multi-sector CDO |  |  | 15 |  | Direct Price Model |  | Nonperformance risk |  | 53% - 53% (53%) |
| Other |  |  | 609 |  | BET Model |  | Recovery rates |  | 42% - 70% (47%) |
|  |  |  |  |  |  |  | Nonperformance risk |  | 13% - 23% (21%) |
|  |  |  |  |  |  |  | Weighted average life (in years) |  | 0.2 - 3.8 (2.3) |
|  |  | Fair Value |  |  |  |  |  |  |
|  |  | as of |  |  |  |  |  | Range |
|  |  | December 31, |  |  |  |  |  | (Weighted |
In millions |  | 2012 |  | Valuation Techniques |  | Unobservable Input |  | Average) |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |
| Loans receivable at fair value |  | $ | 1,881 |  | Quoted market prices adjusted for financial |  | Impact of financial guarantee |  | 0% - 14% (3%) |
|  |  |  |  |  | guarantees provided to VIE obligations |  |  |  |  |
| 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 |  | Impact of financial guarantee |  | 0% - 23% (6%) |
|  |  |  |  |  | adjusted for financial guarantees provided |  |  |  |  |
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 |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  | Counterparty |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | and Cash |  | Balance as of
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | Collateral |  | June 30,
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | Netting |  | 2013
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and government agency |  | $ | 1,021 |  | $ | 220 |  | $ | 0 |  |  | $ | 0 |  | $ | 1,241
| State and municipal bonds |  |  | 0 |  |  | 1,394 |  |  | 63 | (1) |  |  | 0 |  |  | 1,457
| Foreign governments |  |  | 94 |  |  | 90 |  |  | 3 | (1) |  |  | 0 |  |  | 187
| Corporate obligations |  |  | 0 |  |  | 1,119 |  |  | 63 | (1) |  |  | 0 |  |  | 1,182
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed agency |  |  | 0 |  |  | 907 |  |  | 3 | (1) |  |  | 0 |  |  | 910
|  | Residential mortgage-backed non-agency |  |  | 0 |  |  | 80 |  |  | 1 | (1) |  |  | 0 |  |  | 81
|  | Commercial mortgage-backed |  |  | 0 |  |  | 26 |  |  | 13 | (1) |  |  | 0 |  |  | 39
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | 0 |  |  | 68 |  |  | 85 | (1) |  |  | 0 |  |  | 153
|  | Other asset-backed |  |  | 0 |  |  | 85 |  |  | 64 | (1) |  |  | 0 |  |  | 149
|  |  | Total fixed-maturity investments |  |  | 1,115 |  |  | 3,989 |  |  | 295 |  |  |  | 0 |  |  | 5,399
Money market securities |  |  | 1,067 |  |  | 1 |  |  | 0 |  |  |  | 0 |  |  | 1,068
Perpetual debt and equity securities |  |  | 26 |  |  | 14 |  |  | 10 | (1) |  |  | 0 |  |  | 50
Cash and cash equivalents |  |  | 928 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 928
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 62 |  |  | 0 |  |  |  | (59) |  |  | 3
|  |  | Total derivative assets |  |  | 0 |  |  | 62 |  |  | 0 |  |  |  | (59) |  |  | 3
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  | Counterparty |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | and Cash |  | Balance as of
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | Collateral |  | June 30,
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | Netting |  | 2013
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate obligations |  |  | 0 |  |  | 48 |  |  | 48 | (1) |  |  | 0 |  |  | 96
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed non-agency |  |  | 0 |  |  | 265 |  |  | 2 | (1) |  |  | 0 |  |  | 267
|  | Commercial mortgage-backed |  |  | 0 |  |  | 109 |  |  | 4 | (1) |  |  | 0 |  |  | 113
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | 0 |  |  | 20 |  |  | 35 | (1) |  |  | 0 |  |  | 55
|  | Other asset-backed |  |  | 0 |  |  | 69 |  |  | 63 | (1) |  |  | 0 |  |  | 132
| Money market securities |  |  | 321 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 321
| Cash |  |  | 78 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 78
| Loans receivable |  |  | 0 |  |  | 0 |  |  | 1,790 |  |  |  | 0 |  |  | 1,790
| Loan repurchase commitments |  |  | 0 |  |  | 0 |  |  | 1,115 |  |  |  | 0 |  |  | 1,115
| Interest rate derivatives |  |  | 0 |  |  | 1 |  |  | 0 |  |  |  | 0 |  |  | 1
Total assets |  | $ | 3,535 |  | $ | 4,578 |  | $ | 3,362 |  |  | $ | (59) |  | $ | 11,416
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 0 |  | $ | 0 |  | $ | 188 | (1) |  | $ | 0 |  | $ | 188
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Credit derivatives |  |  | 0 |  |  | 7 |  |  | 1,648 |  |  |  | 0 |  |  | 1,655
| Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 209 |  |  | 0 |  |  |  | (209) |  |  | 0
|  | Currency derivatives |  |  | 0 |  |  | 1 |  |  | 0 |  |  |  | (1) |  |  | 0
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Warrants |  |  | 0 |  |  | 85 |  |  | 0 |  |  |  | 0 |  |  | 85
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 0 |  |  | 1,766 |  |  | 824 |  |  |  | 0 |  |  | 2,590
| Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 2 |  |  | 0 |  |  |  | 0 |  |  | 2
|  | Currency derivatives |  |  | 0 |  |  | 0 |  |  | 16 | (1) |  |  | 0 |  |  | 16
Total liabilities |  | $ | 0 |  | $ | 2,070 |  | $ | 2,676 |  |  | $ | (210) |  | $ | 4,536
____________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  | Counterparty |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | and Cash |  | Balance as of
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | Collateral |  | December 31,
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | Netting |  | 2012
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and government agency |  | $ | 784 |  | $ | 100 |  | $ | 0 |  |  | $ | 0 |  | $ | 884
| State and municipal bonds |  |  | 0 |  |  | 1,429 |  |  | 103 | (1) |  |  | 0 |  |  | 1,532
| Foreign governments |  |  | 86 |  |  | 107 |  |  | 3 | (1) |  |  | 0 |  |  | 196
| Corporate obligations |  |  | 0 |  |  | 1,140 |  |  | 76 | (1) |  |  | 0 |  |  | 1,216
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed agency |  |  | 0 |  |  | 988 |  |  | 0 |  |  |  | 0 |  |  | 988
|  | Residential mortgage-backed non-agency |  |  | 0 |  |  | 94 |  |  | 4 | (1) |  |  | 0 |  |  | 98
|  | Commercial mortgage-backed |  |  | 0 |  |  | 20 |  |  | 28 | (1) |  |  | 0 |  |  | 48
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | 0 |  |  | 65 |  |  | 31 | (1) |  |  | 0 |  |  | 96
|  | Other asset-backed |  |  | 0 |  |  | 119 |  |  | 26 | (1) |  |  | 0 |  |  | 145
|  |  | Total fixed-maturity investments |  |  | 870 |  |  | 4,062 |  |  | 271 |  |  |  | 0 |  |  | 5,203
Money market securities |  |  | 585 |  |  | 8 |  |  | 0 |  |  |  | 0 |  |  | 593
Perpetual debt and equity securities |  |  | 23 |  |  | 20 |  |  | 14 | (1) |  |  | 0 |  |  | 57
Cash and cash equivalents |  |  | 814 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 814
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 89 |  |  | 5 | (1) |  |  | (90) |  |  | 4
|  |  | Total derivative assets |  |  | 0 |  |  | 89 |  |  | 5 |  |  |  | (90) |  |  | 4
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  | Counterparty |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | and Cash |  | Balance as of
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | Collateral |  | December 31,
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | Netting |  | 2012
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| State and municipal bonds |  |  | 0 |  |  | 41 |  |  | 0 |  |  |  | 0 |  |  | 41
| Corporate obligations |  |  | 0 |  |  | 215 |  |  | 78 | (1) |  |  | 0 |  |  | 293
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed non-agency |  |  | 0 |  |  | 869 |  |  | 6 | (1) |  |  | 0 |  |  | 875
|  | Commercial mortgage-backed |  |  | 0 |  |  | 410 |  |  | 7 | (1) |  |  | 0 |  |  | 417
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | 0 |  |  | 215 |  |  | 125 | (1) |  |  | 0 |  |  | 340
|  | Other asset-backed |  |  | 0 |  |  | 120 |  |  | 64 | (1) |  |  | 0 |  |  | 184
| Money market securities |  |  | 210 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 210
| Cash |  |  | 176 |  |  | 0 |  |  | 0 |  |  |  | 0 |  |  | 176
| Loans receivable |  |  | 0 |  |  | 0 |  |  | 1,881 |  |  |  | 0 |  |  | 1,881
| Loan repurchase commitments |  |  | 0 |  |  | 0 |  |  | 1,086 |  |  |  | 0 |  |  | 1,086
Total assets |  | $ | 2,678 |  | $ | 6,049 |  | $ | 3,537 |  |  | $ | (90) |  | $ | 12,174
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 0 |  | $ | 0 |  | $ | 165 | (1) |  | $ | 0 |  | $ | 165
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Credit derivatives |  |  | 0 |  |  | 13 |  |  | 2,921 |  |  |  | 0 |  |  | 2,934
| Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 287 |  |  | 4 | (1) |  |  | (293) |  |  | (2)
|  | Currency derivatives |  |  | 0 |  |  | 1 |  |  | 1 | (1) |  |  | 0 |  |  | 2
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Warrants |  |  | 0 |  |  | 6 |  |  | 0 |  |  |  | 0 |  |  | 6
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 0 |  |  | 1,727 |  |  | 1,932 |  |  |  | 0 |  |  | 3,659
| Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | 0 |  |  | 141 |  |  | 0 |  |  |  | 0 |  |  | 141
|  | Currency derivatives |  |  | 0 |  |  | 0 |  |  | 21 | (1) |  |  | 0 |  |  | 21
Total liabilities |  | $ | 0 |  | $ | 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 Hierarchy Table Presents The Company's Assets And Liabilities Not Recorded At Fair Value On The Company's Consolidated Balance Sheet |
|  |  | Fair Value Measurements at Reporting Date Using |  |  |  |  |  |  |
|  |  | Quoted Prices in |  | Significant |  | Significant |  | Fair Value |  | Carry Value |
|  |  | Active Markets for |  | Other Observable |  | Unobservable |  | Balance as of |  | Balance as of |
|  |  | Identical Assets |  | Inputs |  | Inputs |  | June 30, |  | June 30, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | 2013 |  | 2013 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other investments |  | $ | 0 |  | $ | 0 |  | $ | 9 |  | $ | 9 |  | $ | 9 |
| Accrued investment income(1) |  |  | 42 |  |  | 0 |  |  | 0 |  |  | 42 |  |  | 42 |
| Receivable for investments sold(1) |  |  | 12 |  |  | 0 |  |  | 0 |  |  | 12 |  |  | 12 |
| Net cash collateral pledged(1) |  |  | 55 |  |  | 0 |  |  | 0 |  |  | 55 |  |  | 55 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investments held-to-maturity |  |  | 0 |  |  | 0 |  |  | 2,690 |  |  | 2,690 |  |  | 2,818 |
Total assets |  | $ | 109 |  | $ | 0 |  | $ | 2,699 |  | $ | 2,808 |  | $ | 2,936 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment agreements |  | $ | 0 |  | $ | 0 |  | $ | 931 |  | $ | 931 |  | $ | 775 |
| Medium-term notes |  |  | 0 |  |  | 0 |  |  | 1,018 |  |  | 1,018 |  |  | 1,373 |
| Long-term debt |  |  | 0 |  |  | 1,371 |  |  | 0 |  |  | 1,371 |  |  | 1,524 |
| Payable for investments purchased(2) |  |  | 43 |  |  | 0 |  |  | 0 |  |  | 43 |  |  | 43 |
| Accrued interest expense(2) |  |  | 9 |  |  | 100 |  |  | 0 |  |  | 109 |  |  | 125 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 0 |  |  | 0 |  |  | 2,965 |  |  | 2,965 |  |  | 3,117 |
Total liabilities |  | $ | 52 |  | $ | 1,471 |  | $ | 4,914 |  | $ | 6,437 |  | $ | 6,957 |
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross |  | $ | 0 |  | $ | 0 |  | $ | 3,677 |  | $ | 3,677 |  | $ | 2,507 |
| Ceded |  |  | 0 |  |  | 0 |  |  | 85 |  |  | 85 |  |  | 85 |
__________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  |  |  |  |  |
|  |  | Quoted Prices in |  | Significant |  | Significant |  | Fair Value |  | Carry Value
|  |  | Active Markets for |  | Other Observable |  | Unobservable |  | Balance as of |  | Balance as of
|  |  | Identical Assets |  | Inputs |  | Inputs |  | December 31, |  | December 31,
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | 2012 |  | 2012
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other investments |  | $ | 0 |  | $ | 0 |  | $ | 9 |  | $ | 9 |  | $ | 9
| Accrued investment income(1) |  |  | 43 |  |  | 0 |  |  | 0 |  |  | 43 |  |  | 43
| Receivable for investments sold(1) |  |  | 17 |  |  | 0 |  |  | 0 |  |  | 17 |  |  | 17
| Net cash collateral pledged(1) |  |  | 66 |  |  | 0 |  |  | 0 |  |  | 66 |  |  | 66
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investments held-to-maturity |  |  | 0 |  |  | 0 |  |  | 2,674 |  |  | 2,674 |  |  | 2,829
Total assets |  | $ | 126 |  | $ | 0 |  | $ | 2,683 |  | $ | 2,809 |  | $ | 2,964
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investment agreements |  | $ | 0 |  | $ | 0 |  | $ | 1,175 |  | $ | 1,175 |  | $ | 944
| Medium-term notes |  |  | 0 |  |  | 0 |  |  | 860 |  |  | 860 |  |  | 1,433
| Long-term debt |  |  | 0 |  |  | 692 |  |  | 0 |  |  | 692 |  |  | 1,662
| Payable for investments purchased(2) |  |  | 50 |  |  | 0 |  |  | 0 |  |  | 50 |  |  | 50
| Accrued interest expense(2) |  |  | 9 |  |  | 10 |  |  | 0 |  |  | 19 |  |  | 70
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 0 |  |  | 0 |  |  | 3,147 |  |  | 3,147 |  |  | 3,465
Total liabilities |  | $ | 59 |  | $ | 702 |  | $ | 5,182 |  | $ | 5,943 |  | $ | 7,624
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross |  | $ | 0 |  | $ | 0 |  | $ | 650 |  | $ | 650 |  | $ | 143
| Ceded |  |  | 0 |  |  | 0 |  |  | 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.
Changes In Level 3 Assets Measured At Fair Value On A Recurring Basis |
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended June 30, 2013
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gains
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Losses) for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings
|  |  |  |  |  |  |  | Gains / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | for Assets
|  |  |  |  |  |  |  | (Losses) |  | Gains / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | (Losses) |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | Gains / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Period |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2013
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 8 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | (8) |  | $ | 0 |  | $ | 3 |  | $ | 0 |  | $ | 3 |  | $ | 0
Corporate obligations |  |  | 57 |  |  | 0 |  |  | 1 |  |  | 3 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 63 |  |  | 1
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed agency |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 3 |  |  | 0 |  |  | 3 |  |  | 0
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 13 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 13 |  |  | 0
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 37 |  |  | (1) |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 61 |  |  | 0 |  |  | (8) |  |  | (5) |  |  | 9 |  |  | (10) |  |  | 85 |  |  | 1
Other asset-backed |  |  | 67 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 3 |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 2 |  |  | (4) |  |  | 64 |  |  | 0
State and municipal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
bonds |  |  | 23 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (2) |  |  | 0 |  |  | 42 |  |  | 0 |  |  | 63 |  |  | 0
Perpetual debt and equity securities |  |  | 10 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 10 |  |  | 0
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 79 |  |  | (4) |  |  | (6) |  |  | 6 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (2) |  |  | (25) |  |  | 0 |  |  | 0 |  |  | 48 |  |  | (1)
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 6 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 2 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 28 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (24) |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 117 |  |  | 0 |  |  | 0 |  |  | 5 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | (86) |  |  | 0 |  |  | 0 |  |  | 35 |  |  | 3
Other asset-backed |  |  | 47 |  |  | 0 |  |  | 14 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (6) |  |  | (2) |  |  | 10 |  |  | 0 |  |  | 63 |  |  | 11
Loans receivable |  |  | 1,819 |  |  | 0 |  |  | 212 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (68) |  |  | (173) |  |  | 0 |  |  | 0 |  |  | 1,790 |  |  | 212
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 1,176 |  |  | 0 |  |  | 49 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (110) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1,115 |  |  | 49
Total assets |  | $ | 3,488 |  | $ | (5) |  | $ | 269 |  | $ | 15 |  | $ | 0 |  | $ | 66 |  | $ | 0 |  | $ | (208) |  | $ | (315) |  | $ | 69 |  | $ | (17) |  | $ | 3,362 |  | $ | 276
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended June 30, 2012
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gains
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Losses) for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | Gains / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Assets
|  |  |  |  |  |  |  | (Losses) |  | Gains / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | (Losses) |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | Gains / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Period |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2012
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 12 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | (1) |  | $ | 7 |  | $ | 0 |  | $ | (3) |  | $ | (3) |  | $ | 0 |  | $ | 0 |  | $ | 12 |  | $ | 0
Corporate obligations |  |  | 185 |  |  | 0 |  |  | 2 |  |  | 13 |  |  | (2) |  |  | 16 |  |  | 0 |  |  | (15) |  |  | (115) |  |  | 14 |  |  | 0 |  |  | 98 |  |  | 2
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed agency |  |  | 9 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | (9) |  |  | 4 |  |  | 0
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 14 |  |  | 0 |  |  | 0 |  |  | (4) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (5) |  |  | (1) |  |  | 26 |  |  | 0 |  |  | 30 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 25 |  |  | 0 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 27 |  |  | 0
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 35 |  |  | (1) |  |  | 0 |  |  | 3 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (4) |  |  | (7) |  |  | 4 |  |  | (1) |  |  | 29 |  |  | 0
Other asset-backed |  |  | 115 |  |  | (2) |  |  | 0 |  |  | 10 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | (2) |  |  | (50) |  |  | 4 |  |  | (5) |  |  | 72 |  |  | 0
State and municipal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
bonds |  |  | 27 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (2) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 25 |  |  | 0
Perpetual debt and equity securities |  |  | 10 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 3 |  |  | 0 |  |  | 13 |  |  | 0
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 75 |  |  | 0 |  |  | (6) |  |  | (6) |  |  | 0 |  |  | 28 |  |  | 0 |  |  | (2) |  |  | 0 |  |  | 6 |  |  | 0 |  |  | 95 |  |  | 0
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 25 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (2) |  |  | (15) |  |  | 1 |  |  | 0 |  |  | 10 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 15 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | (8) |  |  | 5 |  |  | 0 |  |  | 12 |  |  | 1
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 218 |  |  | 0 |  |  | (2) |  |  | (3) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (75) |  |  | 2 |  |  | 0 |  |  | 140 |  |  | 6
Other asset-backed |  |  | 71 |  |  | 0 |  |  | 3 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | (3) |  |  | (36) |  |  | 3 |  |  | 0 |  |  | 42 |  |  | 2
Loans receivable |  |  | 2,025 |  |  | 0 |  |  | (49) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (71) |  |  | (2) |  |  | 0 |  |  | 0 |  |  | 1,903 |  |  | (49)
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 1,076 |  |  | 0 |  |  | (44) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1,032 |  |  | (44)
Total assets |  | $ | 3,937 |  | $ | (3) |  | $ | (94) |  | $ | 15 |  | $ | (3) |  | $ | 57 |  | $ | 0 |  | $ | (110) |  | $ | (312) |  | $ | 72 |  | $ | (15) |  | $ | 3,544 |  | $ | (82)
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Six Months Ended June 30, 2013
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gains
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Losses) for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | Gains / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Assets
|  |  |  |  |  |  |  | (Losses) |  | Gains / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | (Losses) |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | Gains / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Year |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2013
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 3 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | (8) |  | $ | 0 |  | $ | 11 |  | $ | (3) |  | $ | 3 |  | $ | 0
Corporate obligations |  |  | 76 |  |  | 2 |  |  | 5 |  |  | 4 |  |  | (1) |  |  | 2 |  |  | 0 |  |  | (1) |  |  | (24) |  |  | 0 |  |  | 0 |  |  | 63 |  |  | 5
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed agency |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 3 |  |  | 0 |  |  | 3 |  |  | 0
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 4 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 28 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (19) |  |  | 1 |  |  | (1) |  |  | 13 |  |  | 0
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 31 |  |  | (2) |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 61 |  |  | 0 |  |  | (12) |  |  | (5) |  |  | 19 |  |  | (11) |  |  | 85 |  |  | 1
Other asset-backed |  |  | 26 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 4 |  |  | 0 |  |  | (5) |  |  | 0 |  |  | 44 |  |  | (4) |  |  | 64 |  |  | 0
State and municipal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
bonds |  |  | 103 |  |  | 2 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | (12) |  |  | 42 |  |  | (68) |  |  | 63 |  |  | 0
Perpetual debt and equity securities |  |  | 14 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 10 |  |  | 0
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 78 |  |  | (4) |  |  | (8) |  |  | 6 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | (24) |  |  | 3 |  |  | 0 |  |  | 48 |  |  | (1)
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 6 |  |  | 0 |  |  | 6 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (7) |  |  | 0 |  |  | 1 |  |  | (4) |  |  | 2 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 7 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (24) |  |  | 20 |  |  | 0 |  |  | 4 |  |  | 1
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 125 |  |  | 0 |  |  | (9) |  |  | 5 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | (85) |  |  | 1 |  |  | (1) |  |  | 35 |  |  | 4
Other asset-backed |  |  | 64 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (9) |  |  | (2) |  |  | 10 |  |  | 0 |  |  | 63 |  |  | 4
Loans receivable |  |  | 1,881 |  |  | 0 |  |  | 221 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (137) |  |  | (175) |  |  | 0 |  |  | 0 |  |  | 1,790 |  |  | 207
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 1,086 |  |  | 0 |  |  | 139 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (110) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1,115 |  |  | 139
Total assets |  | $ | 3,532 |  | $ | (2) |  | $ | 355 |  | $ | 21 |  | $ | (2) |  | $ | 67 |  | $ | 0 |  | $ | (299) |  | $ | (370) |  | $ | 155 |  | $ | (95) |  | $ | 3,362 |  | $ | 360
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Six Months Ended June 30, 2012
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Gains
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Losses) for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | Gains / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Assets
|  |  |  |  |  |  |  | (Losses) |  | Gains / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | (Losses) |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | Gains / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Year |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2012
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign governments |  | $ | 11 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 13 |  | $ | 0 |  | $ | (9) |  | $ | (3) |  | $ | 0 |  | $ | 0 |  | $ | 12 |  | $ | 0
Corporate obligations |  |  | 207 |  |  | (15) |  |  | 5 |  |  | 26 |  |  | 0 |  |  | 15 |  |  | 0 |  |  | (16) |  |  | (138) |  |  | 14 |  |  | 0 |  |  | 98 |  |  | 5
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed agency |  |  | 8 |  |  | 0 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | (9) |  |  | 4 |  |  | 0
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 17 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (7) |  |  | (1) |  |  | 26 |  |  | (2) |  |  | 30 |  |  | 0
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 24 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 27 |  |  | 0
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 60 |  |  | (4) |  |  | 0 |  |  | 9 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (9) |  |  | (10) |  |  | 10 |  |  | (27) |  |  | 29 |  |  | 0
Other asset-backed |  |  | 317 |  |  | (61) |  |  | 0 |  |  | 73 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | (8) |  |  | (252) |  |  | 6 |  |  | (7) |  |  | 72 |  |  | 0
State and municipal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
bonds |  |  | 28 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 25 |  |  | 0
Perpetual debt and equity securities |  |  | 11 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | (2) |  |  | 13 |  |  | 0
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 69 |  |  | 0 |  |  | (5) |  |  | (6) |  |  | 0 |  |  | 28 |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 12 |  |  | 0 |  |  | 95 |  |  | 1
Residential mortgage- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
backed non-agency |  |  | 21 |  |  | 0 |  |  | 6 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (4) |  |  | (15) |  |  | 3 |  |  | (1) |  |  | 10 |  |  | 5
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 22 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (3) |  |  | (8) |  |  | 5 |  |  | (6) |  |  | 12 |  |  | 1
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 203 |  |  | 0 |  |  | 0 |  |  | (2) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (75) |  |  | 14 |  |  | 0 |  |  | 140 |  |  | 7
Other asset-backed |  |  | 67 |  |  | 0 |  |  | 5 |  |  | 0 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | (3) |  |  | (36) |  |  | 5 |  |  | 0 |  |  | 42 |  |  | 4
Loans receivable |  |  | 2,046 |  |  | 0 |  |  | (10) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (131) |  |  | (2) |  |  | 0 |  |  | 0 |  |  | 1,903 |  |  | (10)
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 1,077 |  |  | 0 |  |  | (45) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 1,032 |  |  | (45)
Total assets |  | $ | 4,188 |  | $ | (80) |  | $ | (42) |  | $ | 102 |  | $ | 0 |  | $ | 64 |  | $ | 0 |  | $ | (196) |  | $ | (540) |  | $ | 103 |  | $ | (55) |  | $ | 3,544 |  | $ | (32)
Changes In Level 3 Liabilities Measured At Fair Value On A Recurring Basis |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | (Gains) / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Losses |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Period |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2013
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 181 |  | $ | 0 |  | $ | 5 |  | $ | 0 |  | $ | 2 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 188 |  | $ | 7
Credit derivatives, net |  |  | 2,994 |  |  | 1,532 |  |  | (1,350) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1,532) |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 1,648 |  |  | 162
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | (1) |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | (6)
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | 1 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 1,901 |  |  | 0 |  |  | 24 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (26) |  |  | (1,075) |  |  | 0 |  |  | 0 |  |  | 824 |  |  | 24
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | 23 |  |  | 0 |  |  | (4) |  |  | 0 |  |  | (3) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 16 |  |  | (7)
Total liabilities |  | $ | 5,099 |  | $ | 1,532 |  | $ | (1,325) |  | $ | 0 |  | $ | 1 |  | $ | 0 |  | $ | 0 |  | $ | (1,558) |  | $ | (1,075) |  | $ | 4 |  | $ | (2) |  | $ | 2,676 |  | $ | 180
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Transferred in and out at the end of the period.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | (Gains) / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Losses |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Period |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2012
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 174 |  | $ | 0 |  | $ | (16) |  | $ | 0 |  | $ | (7) |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 151 |  | $ | (16)
Credit derivatives, net |  |  | 4,487 |  |  | 443 |  |  | (1,202) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (443) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 3,285 |  |  | (641)
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | (4) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (4) |  |  | 0
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 2,864 |  |  | 0 |  |  | 62 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (76) |  |  | (983) |  |  | 0 |  |  | 0 |  |  | 1,867 |  |  | 62
Credit derivatives, net |  |  | 82 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (82) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0
Currency derivatives, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
net |  |  | 19 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 21 |  |  | 2
Total liabilities |  | $ | 7,622 |  | $ | 443 |  | $ | (1,154) |  | $ | 0 |  | $ | (7) |  | $ | 0 |  | $ | 0 |  | $ | (519) |  | $ | (1,065) |  | $ | 0 |  | $ | 0 |  | $ | 5,320 |  | $ | (593)
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Transferred in and out at the end of the period.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | (Gains) / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Losses |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Year |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2013
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 165 |  | $ | 0 |  | $ | 25 |  | $ | 0 |  | $ | (2) |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 188 |  | $ | 23
Credit derivatives, net |  |  | 2,921 |  |  | 1,521 |  |  | (1,277) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1,521) |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 1,648 |  |  | 218
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | (1) |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | (6)
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | 1 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 1,932 |  |  | 0 |  |  | 146 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (178) |  |  | (1,076) |  |  | 0 |  |  | 0 |  |  | 824 |  |  | 59
Currency derivatives, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
net |  |  | 21 |  |  | 0 |  |  | (5) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 16 |  |  | (5)
Total liabilities |  | $ | 5,039 |  | $ | 1,521 |  | $ | (1,109) |  | $ | 0 |  | $ | (2) |  | $ | 0 |  | $ | 0 |  | $ | (1,699) |  | $ | (1,076) |  | $ | 4 |  | $ | (2) |  | $ | 2,676 |  | $ | 289
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Transferred in and out at the end of the period.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | Unrealized |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | (Gains) / |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Losses |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Included |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | June 30,
In millions |  | of Year |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2012
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 165 |  | $ | 0 |  | $ | (11) |  | $ | 0 |  | $ | (3) |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 151 |  | $ | (11)
Credit derivatives, net |  |  | 4,790 |  |  | 463 |  |  | (1,505) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (463) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 3,285 |  |  | (571)
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives, net |  |  | (3) |  |  | 0 |  |  | (1) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (4) |  |  | 7
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 2,889 |  |  | 0 |  |  | 221 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (260) |  |  | (983) |  |  | 0 |  |  | 0 |  |  | 1,867 |  |  | 165
Credit derivatives, net |  |  | 80 |  |  | 0 |  |  | 2 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (82) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0
Currency derivatives, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
net |  |  | 17 |  |  | 0 |  |  | 4 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 21 |  |  | 4
Total liabilities |  | $ | 7,938 |  | $ | 463 |  | $ | (1,290) |  | $ | 0 |  | $ | (3) |  | $ | 0 |  | $ | 0 |  | $ | (723) |  | $ | (1,065) |  | $ | 0 |  | $ | 0 |  | $ | 5,320 |  | $ | (406)
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Transferred in and out at the end of the period.
Gains And Losses (Realized And Unrealized) Included In Earnings Pertaining To Level 3 Assets And Liabilities |
|  |  | Three Months Ended June 30, 2013 |  | Three Months Ended June 30, 2012
|  |  |  |  |  | Change in |  |  |  |  | Change in
|  |  |  |  |  | Unrealized |  |  |  |  | Unrealized
|  |  |  |  |  | Gains (Losses) |  |  |  |  | Gains (Losses)
|  |  |  |  |  | for the |  |  |  |  | for the
|  |  |  |  |  | Period Included |  |  |  |  | Period Included
|  |  |  |  |  | in Earnings |  |  |  |  | in Earnings
|  |  |  |  |  | for Assets |  |  |  |  | for Assets
|  |  |  |  | and |  |  |  |  | and
|  |  | Total Gains |  | Liabilities still |  | Total Gains |  | Liabilities still
|  |  | (Losses) |  | held as of |  | (Losses) |  | held as of
|  |  | Included |  | June 30, |  | Included |  | June 30,
In millions |  | in Earnings |  | 2013 |  | in Earnings |  | 2012
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
| Unrealized gains (losses) on |  |  |  |  |  |  |  |  |  |  |  |
| insured derivatives |  | $ | 1,350 |  | $ | (162) |  | $ | 1,202 |  | $ | 641
| Realized gains (losses) and other |  |  |  |  |  |  |  |  |  |  |  |
| settlements on insured derivatives |  |  | (1,532) |  |  | 0 |  |  | (443) |  |  | 0
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | (8) |  |  | 1 |  |  | 18 |  |  | 18
| Net investment losses related to |  |  |  |  |  |  |  |  |  |  |  |
| other-than-temporary impairments |  |  | 0 |  |  | 0 |  |  | (3) |  |  | 0
| Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 244 |  |  | 257 |  |  | (160) |  |  | (148)
Total |  | $ | 54 |  | $ | 96 |  | $ | 614 |  | $ | 511
|  |  | Six Months Ended June 30, 2013 |  | Six Months Ended June 30, 2012
|  |  |  |  |  | Change in |  |  |  |  | Change in
|  |  |  |  |  | Unrealized |  |  |  |  | Unrealized
|  |  |  |  |  | Gains (Losses) |  |  |  |  | Gains (Losses)
|  |  |  |  |  | for the |  |  |  |  | for the
|  |  |  |  |  | Period Included |  |  |  |  | Period Included
|  |  |  |  |  | in Earnings |  |  |  |  | in Earnings
|  |  |  |  |  | for Assets |  |  |  |  | for Assets
|  |  |  |  | and |  |  |  |  | and
|  |  | Total Gains |  | Liabilities still |  | Total Gains |  | Liabilities still
|  |  | (Losses) |  | held as of |  | (Losses) |  | held as of
|  |  | Included |  | June 30, |  | Included |  | June 30,
In millions |  | in Earnings |  | 2013 |  | in Earnings |  | 2012
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
| Net investment income |  | $ | 0 |  | $ | 0 |  | $ | (5) |  | $ | 0
| Unrealized gains (losses) on |  |  |  |  |  |  |  |  |  |  |  |
| insured derivatives |  |  | 1,277 |  |  | (218) |  |  | 1,505 |  |  | 571
| Realized gains (losses) and other |  |  |  |  |  |  |  |  |  |  |  |
| settlements on insured derivatives |  |  | (1,521) |  |  | 0 |  |  | (463) |  |  | 0
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | (18) |  |  | (11) |  |  | 2 |  |  | 9
| Net investment losses related to |  |  |  |  |  |  |  |  |  |  |  |
| other-than-temporary impairments |  |  | 0 |  |  | 0 |  |  | (60) |  |  | 0
| Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 205 |  |  | 300 |  |  | (274) |  |  | (206)
Total |  | $ | (57) |  | $ | 71 |  | $ | 705 |  | $ | 374
Changes In Fair Value Included In The Company's Consolidated Statements Of Operations |
|  |  | Net Gains (Losses) on Financial Instruments |
|  |  | at Fair Value and Foreign Exchange |
|  |  | Three Months Ended June 30, |  | Six Months Ended June 30, |
In millions |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Fixed-maturity securities held at fair value |  | $ | (16) |  | $ | (56) |  | $ | 2 |  | $ | (57) |
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage loans |  |  | 145 |  |  | (117) |  |  | 71 |  |  | (99) |
| Other loans |  |  | - |  |  | (2) |  |  | 13 |  |  | (41) |
Loan repurchase commitments |  |  | 50 |  |  | 44 |  |  | 139 |  |  | 43 |
Long-term debt |  |  | (160) |  |  | 135 |  |  | (79) |  |  | 128 |
Difference Between Aggregate Fair Value And The Aggregate Remaining Contractual Principal Balance Outstanding |
|  |  | As of June 30, 2013 |  |  | As of December 31, 2012
|  |  | Contractual |  |  |  |  |  |  |  | Contractual |  |  |  |  |  |
|  |  | Outstanding |  | Fair |  |  |  |  | Outstanding |  | Fair |  |  |
In millions |  | Principal |  | Value |  | Difference |  | Principal |  | Value |  | Difference
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage loans |  | $ | 2,025 |  | $ | 1,704 |  | $ | 321 |  | $ | 2,307 |  | $ | 1,735 |  | $ | 572
| Residential mortgage loans (90 days or more past due) |  |  | 228 |  |  | 86 |  |  | 142 |  |  | 244 |  |  | 54 |  |  | 190
| Other loans |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 22 |  |  | 22 |  |  | 0
| Other loans (90 days or more past due) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 197 |  |  | 70 |  |  | 127
Total loans receivable at fair value |  | $ | 2,253 |  | $ | 1,790 |  | $ | 463 |  | $ | 2,770 |  | $ | 1,881 |  | $ | 889
Variable interest entity notes |  | $ | 4,013 |  | $ | 2,590 |  | $ | 1,423 |  | $ | 9,021 |  | $ | 3,659 |  | $ | 5,362

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- Definition Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a,b,bb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -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. + Details
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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets 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 gains or losses recognized in other comprehensive income (loss), 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, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -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. + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 gains or losses recognized in other comprehensive income (loss) 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, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -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. + Details
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- Definition Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. 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