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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2018
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
|  |  | September 30, |  |  |  |  |  | (Weighted
In millions |  | 2018 |  | Valuation Techniques |  | Unobservable Input |  | Average)
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Loans receivable at fair value |  | $ | 428 |  | Market prices adjusted for financial |  | Impact of financial guarantee(1) |  | -18% - 63% (-5%)
|  |  |  |  |  | guarantees provided to VIE obligations |  |  |  |
| Loan repurchase commitments |  |  | 415 |  | Discounted cash flow |  | Recovery rates(2) |  |
|  |  |  |  |  |  |  | Breach rates(2) |  |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 382 |  | Market prices of VIE assets adjusted for |  | Impact of financial guarantee |  | 0% - 65% (40%)
|  |  |  |  |  | financial guarantees provided |  |  |  |
Credit derivative liabilities: |  |  |  |  |  |  |  |  |
| CMBS |  |  | 27 |  | Direct Price Model |  | Nonperformance risk |  | 54% - 54% (54%)
Other derivative liabilities |  |  | 7 |  | Discounted cash flow |  | Cash flows |  | $0 - $49 ($25)(3)
____________ |  |  |  |  |
(1) - Negative percentage represents financial guarantee policies in a receivable position.
(2) - Recovery rates and breach rates include estimates about potential variations in the outcome of litigation with a counterparty.
(3) - Midpoint of cash flows are used for the weighted average.
|  |  | Fair Value |  |  |  |  |  |
|  |  | as of |  |  |  |  |  | Range
|  |  | December 31, |  |  |  |  |  | (Weighted
In millions |  | 2017 |  | Valuation Techniques |  | Unobservable Input |  | Average)
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Loans receivable at fair value |  | $ | 1,679 |  | Market prices adjusted for financial |  | Impact of financial guarantee(1) |  | -25% - 35% (-2%)
|  |  |  |  |  | guarantees provided to VIE obligations |  |  |  |
|  |  |  |  |  | Multiples of EBITDA |  | Multiples(2) |  |
| Loan repurchase commitments |  |  | 407 |  | Discounted cash flow |  | Recovery rates(3) |  |
|  |  |  |  |  |  |  | Breach rates(3) |  |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 406 |  | Market prices of VIE assets |  | Impact of financial guarantee |  | 0% - 60% (36%)
|  |  |  |  |  | adjusted for financial guarantees provided |  |  |  |
Credit derivative liabilities: |  |  |  |  |  |  |  |  |
| CMBS |  |  | 63 |  | Direct Price Model |  | Nonperformance risk |  | 54% - 54% (54%)
Other derivative liabilities |  |  | 4 |  | Discounted cash flow |  | Cash flows |  | $0 - $49 ($25)(4)
| ____________ |  |  |  |
| (1) - Negative percentage represents financial guarantee policies in a receivable position.
| (2) - Unobservable inputs are primarily based on comparable companies' EBITDA multiples.
| (3) - Recovery rates and breach rates include estimates about potential variations in the outcome of litigation with a counterparty.
| (4) - Midpoint of cash flows are used for the weighted average.
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 |  |  |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | Balance as of |
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | September 30, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | 2018 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and government agency |  | $ | 765 |  | $ | 89 |  | $ | - |  |  | $ | 854 |
| State and municipal bonds |  |  | - |  |  | 757 |  |  | - |  |  |  | 757 |
| Foreign governments |  |  | - |  |  | 11 |  |  | - |  |  |  | 11 |
| Corporate obligations |  |  | 20 |  |  | 1,603 |  |  | - |  |  |  | 1,623 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed agency |  |  | - |  |  | 220 |  |  | - |  |  |  | 220 |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 30 |  |  | - |  |  |  | 30 |
|  | Commercial mortgage-backed |  |  | - |  |  | 50 |  |  | 7 | (1) |  |  | 57 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 146 |  |  | - |  |  |  | 146 |
|  | Other asset-backed |  |  | - |  |  | 217 |  |  | 4 | (1) |  |  | 221 |
|  |  | Total fixed-maturity investments |  |  | 785 |  |  | 3,123 |  |  | 11 |  |  |  | 3,919 |
Money market securities |  |  | 147 |  |  | - |  |  | - |  |  |  | 147 |
Perpetual debt and equity securities |  |  | 26 |  |  | 38 |  |  | - |  |  |  | 64 |
Fixed-income fund |  |  | - |  |  | - |  |  | - |  |  |  | 75 | (2)
Cash and cash equivalents |  |  | 167 |  |  | - |  |  | - |  |  |  | 167 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | - |  |  | 2 |  |  | - |  |  |  | 2 |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | Balance as of |
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | September 30, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | 2018 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate obligations |  |  | - |  |  | 9 |  |  | 5 | (1) |  |  | 14 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 98 |  |  | - |  |  |  | 98 |
|  | Commercial mortgage-backed |  |  | - |  |  | 35 |  |  | - |  |  |  | 35 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 6 |  |  | 1 | (1) |  |  | 7 |
|  | Other asset-backed |  |  | - |  |  | 9 |  |  | - |  |  |  | 9 |
| Cash |  |  | 12 |  |  | - |  |  | - |  |  |  | 12 |
| Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential loans receivable |  |  | - |  |  | - |  |  | 428 |  |  |  | 428 |
| Loan repurchase commitments |  |  | - |  |  | - |  |  | 415 |  |  |  | 415 |
| Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Currency derivatives |  |  | - |  |  | - |  |  | 14 | (1) |  |  | 14 |
|  | Other |  |  | - |  |  | - |  |  | 15 | (1) |  |  | 15 |
Total assets |  | $ | 1,137 |  | $ | 3,320 |  | $ | 889 |  |  | $ | 5,421 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | - |  | $ | - |  | $ | 123 | (1) |  | $ | 123 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Credit derivatives |  |  | - |  |  | 2 |  |  | 27 |  |  |  | 29 |
| Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | - |  |  | 137 |  |  | - |  |  |  | 137 |
|  | Other |  |  | - |  |  | - |  |  | 7 |  |  |  | 7 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other payable |  |  | - |  |  | - |  |  | 5 | (1) |  |  | 5 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 327 |  |  | 382 |  |  |  | 709 |
Total liabilities |  | $ | - |  | $ | 466 |  | $ | 544 |  |  | $ | 1,010 |
____________ |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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. |
(2) - Investment that was measured at fair value by applying the net asset value per share practical expedient, and was required not to be classified in the fair value hierarchy. |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | Balance as of |
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | December 31, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | 2017 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and government agency |  | $ | 1,256 |  | $ | 96 |  | $ | - |  |  | $ | 1,352 |
| State and municipal bonds |  |  | - |  |  | 858 |  |  | - |  |  |  | 858 |
| Foreign governments |  |  | - |  |  | 10 |  |  | - |  |  |  | 10 |
| Corporate obligations |  |  | - |  |  | 1,338 |  |  | 2 | (1) |  |  | 1,340 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed agency |  |  | - |  |  | 368 |  |  | - |  |  |  | 368 |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 32 |  |  | - |  |  |  | 32 |
|  | Commercial mortgage-backed |  |  | - |  |  | 60 |  |  | 7 | (1) |  |  | 67 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 118 |  |  | - |  |  |  | 118 |
|  | Other asset-backed |  |  | - |  |  | 178 |  |  | 5 | (1) |  |  | 183 |
|  |  | Total fixed-maturity investments |  |  | 1,256 |  |  | 3,058 |  |  | 14 |  |  |  | 4,328 |
Money market securities |  |  | 180 |  |  | - |  |  | - |  |  |  | 180 |
Perpetual debt and equity securities |  |  | 26 |  |  | 37 |  |  | - |  |  |  | 63 |
Fixed-income fund |  |  | - |  |  | - |  |  | - |  |  |  | 82 | (2)
Cash and cash equivalents |  |  | 122 |  |  | - |  |  | - |  |  |  | 122 |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-insured derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | - |  |  | 2 |  |  | - |  |  |  | 2 |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |  |  |
|  |  |  |  |  | Quoted Prices in |  | Significant |  |  |  |  |  |  |  |
|  |  |  |  |  | Active Markets |  | Other |  | Significant |  |  |  |  |
|  |  |  |  |  | for Identical |  | Observable |  | Unobservable |  |  | Balance as of |
|  |  |  |  |  | Assets |  | Inputs |  | Inputs |  |  | December 31, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | 2017 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate obligations |  |  | - |  |  | 19 |  |  | - |  |  |  | 19 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 108 |  |  | - |  |  |  | 108 |
|  | Commercial mortgage-backed |  |  | - |  |  | 30 |  |  | 6 | (1) |  |  | 36 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 8 |  |  | 1 | (1) |  |  | 9 |
|  | Other asset-backed |  |  | - |  |  | 10 |  |  | - |  |  |  | 10 |
| Cash |  |  | 24 |  |  | - |  |  | - |  |  |  | 24 |
| Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential loans receivable |  |  | - |  |  | - |  |  | 759 |  |  |  | 759 |
|  | Corporate loans receivable |  |  | - |  |  | - |  |  | 920 |  |  |  | 920 |
| Loan repurchase commitments |  |  | - |  |  | - |  |  | 407 |  |  |  | 407 |
| Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Currency derivatives |  |  | - |  |  | - |  |  | 19 | (1) |  |  | 19 |
|  | Other |  |  | - |  |  | - |  |  | 14 | (1) |  |  | 14 |
Total assets |  | $ | 1,608 |  | $ | 3,272 |  | $ | 2,140 |  |  | $ | 7,102 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | - |  | $ | - |  | $ | 115 | (1) |  | $ | 115 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Credit derivatives |  |  | - |  |  | 2 |  |  | 63 |  |  |  | 65 |
| Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | - |  |  | 193 |  |  | - |  |  |  | 193 |
|  | Other |  |  | - |  |  | - |  |  | 4 |  |  |  | 4 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Warrants |  |  | - |  |  | 6 |  |  | - |  |  |  | 6 |
| Other payable |  |  | - |  |  | - |  |  | 7 | (1) |  |  | 7 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 663 |  |  | 406 |  |  |  | 1,069 |
Total liabilities |  | $ | - |  | $ | 864 |  | $ | 595 |  |  | $ | 1,459 |
____________ |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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. |
(2) - Investment that was measured at fair value by applying the net asset value per share practical expedient, and was required not to be classified in the fair value hierarchy. |
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 |  | September 30, |  | September 30, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | 2018 |  | 2018 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other investments |  | $ | - |  | $ | 1 |  | $ | - |  | $ | 1 |  | $ | 1 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investments held-to-maturity |  |  | - |  |  | - |  |  | 901 |  |  | 901 |  |  | 890 |
Total assets |  | $ | - |  | $ | 1 |  | $ | 901 |  | $ | 902 |  | $ | 891 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Long-term debt |  | $ | - |  | $ | 1,132 |  | $ | - |  | $ | 1,132 |  | $ | 2,218 |
| Medium-term notes |  |  | - |  |  | - |  |  | 416 |  |  | 416 |  |  | 615 |
| Investment agreements |  |  | - |  |  | - |  |  | 381 |  |  | 381 |  |  | 314 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 382 |  |  | 900 |  |  | 1,282 |  |  | 1,251 |
Total liabilities |  | $ | - |  | $ | 1,514 |  | $ | 1,697 |  | $ | 3,211 |  | $ | 4,398 |
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross |  | $ | - |  | $ | - |  | $ | 1,231 |  | $ | 1,231 |  | $ | 100 |
| Ceded |  |  | - |  |  | - |  |  | 68 |  |  | 68 |  |  | 38 |
|  |  | 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) |  | 2017 |  | 2017
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other investments |  | $ | - |  | $ | 2 |  | $ | - |  | $ | 2 |  | $ | 2
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investments held-to-maturity |  |  | - |  |  | - |  |  | 916 |  |  | 916 |  |  | 890
Total assets |  | $ | - |  | $ | 2 |  | $ | 916 |  | $ | 918 |  | $ | 892
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Long-term debt |  | $ | - |  | $ | 1,002 |  | $ | - |  | $ | 1,002 |  | $ | 2,121
| Medium-term notes |  |  | - |  |  | - |  |  | 406 |  |  | 406 |  |  | 650
| Investment agreements |  |  | - |  |  | - |  |  | 433 |  |  | 433 |  |  | 337
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 352 |  |  | 916 |  |  | 1,268 |  |  | 1,220
Total liabilities |  | $ | - |  | $ | 1,354 |  | $ | 1,755 |  | $ | 3,109 |  | $ | 4,328
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross |  | $ | - |  | $ | - |  | $ | 1,785 |  | $ | 1,785 |  | $ | 1,220
| Ceded |  |  | - |  |  | - |  |  | 61 |  |  | 61 |  |  | 39
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 September 30, 2018
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |  | September 30,
In millions |  | of Period |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2018
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 7 |  | $ | - | $ |  | 7 |  | $ | -
Other asset-backed |  |  | 6 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (2) |  |  | 4 |  |  | -
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | 5 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 683 |  |  | - |  |  | 20 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (24) |  |  | (251) |  |  | - |  |  | - |  |  | 428 |  |  | 21
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 415 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 415 |  |  | -
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives |  |  | 14 |  |  | - |  |  | 2 |  |  | - |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 14 |  |  | -
Other |  |  | 14 |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 15 |  |  | 1
Total assets |  | $ | 1,138 |  | $ | - |  | $ | 23 |  | $ | - |  | $ | (2) |  | $ | - |  | $ | - |  | $ | (24) |  | $ | (251) |  | $ | 7 |  | $ | (2) |  | $ | 889 |  | $ | 22
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2017
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |  | September 30,
In millions |  | of Period |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2017
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  | $ | 7 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (7) |  | $ | - |  | $ | -
Other asset-backed |  |  | 5 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | -
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (3) |  |  | - |  |  | - |  |  | - |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 815 |  |  | - |  |  | 2 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (58) |  |  | - |  |  | - |  |  | - |  |  | 759 |  |  | 2
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
corporate |  |  | 875 |  |  | - |  |  | 4 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | - |  |  | - |  |  | - |  |  | 873 |  |  | 4
Loan repurchase commitments |  |  | 407 |  |  | - |  |  | (1) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 406 |  |  | (1)
Currency derivatives |  |  | 9 |  |  | - |  |  | 3 |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 13 |  |  | 4
Other |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 17 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 17 |  |  | -
Total assets |  | $ | 2,122 |  | $ | - |  | $ | 8 |  | $ | - |  | $ | 1 |  | $ | 17 |  | $ | - |  | $ | (64) |  | $ | (3) |  | $ | - |  | $ | (7) |  | $ | 2,074 |  | $ | 9
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2018
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |  | September 30,
In millions |  | of Year |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2018
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  | $ | 2 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (2) |  | $ | - |  | $ | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 7 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | (7) |  |  | 7 |  |  | -
Other asset-backed |  |  | 5 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | - |  |  | (2) |  |  | (2) |  |  | - |  |  | (2) |  |  | 4 |  |  | -
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1) |  |  | - |  |  | 6 |  |  | - |  |  | 5 |  |  | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 6 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | - |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 759 |  |  | - |  |  | 26 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (106) |  |  | (251) |  |  | - |  |  | - |  |  | 428 |  |  | 23
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
corporate |  |  | 920 |  |  | - |  |  | 11 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | (925) |  |  | - |  |  | - |  |  | - |  |  | -
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 407 |  |  | - |  |  | 8 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 415 |  |  | 8
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives |  |  | 19 |  |  | - |  |  | (3) |  |  | - |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 14 |  |  | (5)
Other |  |  | 14 |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 15 |  |  | 1
Total assets |  | $ | 2,140 |  | $ | - |  | $ | 43 |  | $ | - |  | $ | (2) |  | $ | 5 |  | $ | - |  | $ | (115) |  | $ | (1,178) |  | $ | 13 |  | $ | (17) |  | $ | 889 |  | $ | 27
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2017
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |  | September 30,
In millions |  | of Year |  | (Losses) |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2017
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  | $ | 2 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (2) |  | $ | - |  | $ | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | (7) |  |  | - |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 15 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (7) |  |  | - |  |  | - |  |  | (8) |  |  | - |  |  | -
Other asset-backed |  |  | 44 |  |  | - |  |  | - |  |  | 2 |  |  | - |  |  | - |  |  | - |  |  | (41) |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | -
State and municipal |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
bonds |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | (1) |  |  | - |  |  | -
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (2) |  |  | - |  |  | 6 |  |  | (4) |  |  | - |  |  | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (3) |  |  | 3 |  |  | - |  |  | - |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Other asset-backed |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | (2) |  |  | - |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 916 |  |  | - |  |  | 29 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (186) |  |  | - |  |  | - |  |  | - |  |  | 759 |  |  | 29
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
corporate |  |  | 150 |  |  | - |  |  | 36 |  |  | - |  |  | - |  |  | 719 |  |  | - |  |  | (32) |  |  | - |  |  | - |  |  | - |  |  | 873 |  |  | 36
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 404 |  |  | - |  |  | 2 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 406 |  |  | 2
Currency derivatives |  |  | 19 |  |  | - |  |  | (2) |  |  | - |  |  | (4) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 13 |  |  | (6)
Other |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 17 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 17 |  |  | -
Total assets |  | $ | 1,552 |  | $ | - |  | $ | 65 |  | $ | 2 |  | $ | (4) |  | $ | 736 |  | $ | - |  | $ | (268) |  | $ | (3) |  | $ | 18 |  | $ | (24) |  | $ | 2,074 |  | $ | 61
Changes In Level 3 Liabilities Measured At Fair Value On A Recurring Basis |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | (Gains) / |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | Losses |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Included in |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Credit Risk |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | September 30,
In millions |  | of Period |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2018
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 149 |  | $ | (5) |  | $ | (1) |  | $ | 11 |  | $ | (1) |  | $ | - |  | $ | - |  | $ | (30) |  | $ | - |  | $ | - |  | $ | - |  | $ | 123 |  | $ | (2)
Credit derivatives |  |  | 31 |  |  | 6 |  |  | (4) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | - |  |  | - |  |  | - |  |  | 27 |  |  | (4)
Other derivatives |  |  | 4 |  |  | - |  |  | 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | 3
Other payable |  |  | 5 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | -
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 389 |  |  | 10 |  |  | 3 |  |  | (11) |  |  | 5 |  |  | - |  |  | 1 |  |  | (15) |  |  | - |  |  | - |  |  | - |  |  | 382 |  |  | 8
Total liabilities |  | $ | 578 |  | $ | 11 |  | $ | 1 |  | $ | - |  | $ | 4 |  | $ | - |  | $ | 1 |  | $ | (51) |  | $ | - |  | $ | - |  | $ | - |  | $ | 544 |  | $ | 5
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  | September 30,
In millions |  | of Period |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2017
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 123 |  | $ | - |  | $ | (1) |  | $ | - |  | $ | 5 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 127 |  | $ | 4
Credit derivatives |  |  | 80 |  |  | 7 |  |  | (6) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (7) |  |  | - |  |  | - |  |  | - |  |  | 74 |  |  | (6)
Other derivatives |  |  | 4 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 4 |  |  | -
Other payable |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | 6 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | 1
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 491 |  |  | - |  |  | 4 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (14) |  |  | (51) |  |  | - |  |  | - |  |  | 430 |  |  | 4
Total liabilities |  | $ | 698 |  | $ | 7 |  | $ | (2) |  | $ | - |  | $ | 5 |  | $ | 6 |  | $ | - |  | $ | (21) |  | $ | (51) |  | $ | - |  | $ | - |  | $ | 642 |  | $ | 3
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) - Transferred in and out at the end of the period.
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Change in
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (Gains)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Losses for
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | the Period
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Included in
|  |  |  |  |  |  |  | Unrealized |  | Unrealized |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Earnings for
|  |  |  |  |  |  |  | (Gains) / |  | (Gains) / |  | Foreign |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Liabilities
|  |  |  |  |  |  |  | Losses |  | Losses |  | Exchange |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | still held
|  | Balance, |  | Realized |  | Included |  | Included in |  | Recognized |  |  |  |  |  |  |  |  |  |  |  |  |  | Transfers |  | Transfers |  |  |  |  | as of
|  | Beginning |  | (Gains) / |  | in |  | Credit Risk |  | in OCI or |  |  |  |  |  |  |  |  |  |  |  |  |  | into |  | out of |  | Ending |  | September 30,
In millions |  | of Year |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3(1) |  | Level 3(1) |  | Balance |  | 2018
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 115 |  | $ | (5) |  | $ | (1) |  | $ | 51 |  | $ | (7) |  | $ | - |  | $ | - |  | $ | (30) |  | $ | - |  | $ | - |  | $ | - |  | $ | 123 |  | $ | (8)
Credit derivatives |  |  | 63 |  |  | 49 |  |  | (36) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (49) |  |  | - |  |  | - |  |  | - |  |  | 27 |  |  | (36)
Other derivatives |  |  | 4 |  |  | - |  |  | 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | 3
Other payable |  |  | 7 |  |  | - |  |  | 2 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (4) |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | 2
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 406 |  |  | 22 |  |  | (12) |  |  | (10) |  |  | 3 |  |  | - |  |  | 7 |  |  | (34) |  |  | - |  |  | - |  |  | - |  |  | 382 |  |  | (9)
Total liabilities |  | $ | 595 |  | $ | 66 |  | $ | (44) |  | $ | 41 |  | $ | (4) |  | $ | - |  | $ | 7 |  | $ | (117) |  | $ | - |  | $ | - |  | $ | - |  | $ | 544 |  | $ | (48)
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  | September 30,
In millions |  | of Year |  | Losses |  | Earnings |  | in OCI |  | Earnings |  | Purchases |  | Issuances |  | Settlements |  | Sales |  | Level 3 (1) |  | Level 3 (1) |  | Balance |  | 2017
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | 101 |  | $ | - |  | $ | 13 |  | $ | - |  | $ | 13 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 127 |  | $ | 26
Credit derivatives |  |  | 64 |  |  | 41 |  |  | 10 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (41) |  |  | - |  |  | - |  |  | - |  |  | 74 |  |  | 12
Other derivatives |  |  | 20 |  |  | - |  |  | 18 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (34) |  |  | - |  |  | - |  |  | - |  |  | 4 |  |  | 18
Other payable |  |  | - |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | 6 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | 1
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 476 |  |  | - |  |  | 56 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (51) |  |  | (51) |  |  | - |  |  | - |  |  | 430 |  |  | 56
Total liabilities |  | $ | 661 |  | $ | 41 |  | $ | 98 |  | $ | - |  | $ | 13 |  | $ | 6 |  | $ | - |  | $ | (126) |  | $ | (51) |  | $ | - |  | $ | - |  | $ | 642 |  | $ | 113
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 September 30, 2018 |  | Three Months Ended September 30, 2017
|  |  |  |  |  | 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 |  | September 30, |  | Included |  | September 30,
In millions |  | in Earnings |  | 2018 |  | in Earnings |  | 2017
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
| Unrealized gains (losses) on |  |  |  |  |  |  |  |  |  |  |  |
| insured derivatives |  | $ | 4 |  | $ | 4 |  | $ | 6 |  | $ | 6
| Realized gains (losses) and other |  |  |  |  |  |  |  |  |  |  |  |
| settlements on insured derivatives |  |  | (6) |  |  | - |  |  | (7) |  |  | -
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 4 |  |  | (1) |  |  | (4) |  |  | (4)
| Other net realized gains (losses) |  |  | - |  |  | - |  |  | (1) |  |  | (1)
| Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 3 |  |  | 14 |  |  | 5 |  |  | 5
Total |  | $ | 5 |  | $ | 17 |  | $ | (1) |  | $ | 6
|  |  | Nine Months Ended September 30, 2018 |  | Nine Months Ended September 30, 2017
|  |  |  |  |  | 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 |  | September 30, |  | Included |  | September 30,
In millions |  | in Earnings |  | 2018 |  | in Earnings |  | 2017
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
| Unrealized gains (losses) on |  |  |  |  |  |  |  |  |  |  |  |
| insured derivatives |  | $ | 36 |  | $ | 36 |  | $ | (10) |  | $ | (12)
| Realized gains (losses) and other |  |  |  |  |  |  |  |  |  |  |  |
| settlements on insured derivatives |  |  | (49) |  |  | - |  |  | (41) |  |  | -
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 10 |  |  | 5 |  |  | (44) |  |  | (44)
| Other net realized gains (losses) |  |  | (2) |  |  | (2) |  |  | (1) |  |  | (1)
| Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 28 |  |  | 36 |  |  | 5 |  |  | 5
Total |  | $ | 23 |  | $ | 75 |  | $ | (91) |  | $ | (52)
Changes In Fair Value Included In The Company's Consolidated Statements Of Operations |
|  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
In millions |  | 2018 |  | 2017 |  |  | 2018 |  | 2017 |
Investments carried at fair value(1) |  | $ | 1 |  | $ | 2 |  |  | $ | (4) |  | $ | 8 |
Fixed-maturity securities held at fair value-VIE(2) |  |  | (7) |  |  | (2) |  |  |  | (19) |  |  | (16) |
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage loans(2) |  |  | (3) |  |  | (55) |  |  |  | (79) |  |  | (157) |
| Corporate loans(2) |  |  | - |  |  | (2) |  |  |  | 11 |  |  | 4 |
Loan repurchase commitments(2) |  |  | - |  |  | (1) |  |  |  | 9 |  |  | 3 |
Other assets-VIE(2) |  |  | 1 |  |  | - |  |  |  | 1 |  |  | - |
Medium-term notes(1) |  |  | 7 |  |  | (4) |  |  |  | 14 |  |  | (26) |
Variable interest entity notes (2) |  |  | 23 |  |  | 70 |  |  |  | 106 |  |  | 160 |
Other liabilities(3) |  |  | - |  |  | (1) |  |  |  | (2) |  |  | (1) |
___________ |  |  |  |  |  |  |
(1) - Reported within "Net gains (losses) on financial instruments at fair value and foreign exchange" on MBIA's consolidated statements of operations. |
(2) - Reported within "Net gains (losses) on financial instruments at fair value and foreign exchange-VIE" on MBIA's consolidated statements of operations. |
(3) - Reported within "Other net realized gains (losses)" on MBIA's consolidated statements of operations. |
Difference Between Aggregate Fair Value And The Aggregate Remaining Contractual Principal Balance Outstanding |
|  |  | As of September 30, 2018 |  |  | As of December 31, 2017
|  |  | Contractual |  |  |  |  |  |  |  | Contractual |  |  |  |  |  |
|  |  | Outstanding |  | Fair |  |  |  |  | Outstanding |  | Fair |  |  |
In millions |  | Principal |  | Value |  | Difference |  | Principal |  | Value |  | Difference
Loans receivable at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage loans |  | $ | 390 |  | $ | 389 |  | $ | 1 |  | $ | 732 |  | $ | 727 |  | $ | 5
| Residential mortgage loans (90 days or more past due) |  |  | 165 |  |  | 39 |  |  | 126 |  |  | 170 |  |  | 32 |  |  | 138
| Corporate loans (90 days or more past due) |  |  | - |  |  | - |  |  | - |  |  | 1,394 |  |  | 920 |  |  | 474
Total loans receivable at fair value |  | $ | 555 |  | $ | 428 |  | $ | 127 |  | $ | 2,296 |  | $ | 1,679 |  | $ | 617
Variable interest entity notes |  | $ | 1,525 |  | $ | 709 |  | $ | 816 |  | $ | 1,882 |  | $ | 1,069 |  | $ | 813
Medium-term notes |  | $ | 139 |  | $ | 123 |  | $ | 16 |  | $ | 180 |  | $ | 115 |  | $ | 65

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