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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 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
|  |  | December 31, |  |  |  |  |  | (Weighted
In millions |  | 2018 |  | Valuation Techniques |  | Unobservable Input |  | Average)
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Loans receivable and other instruments at fair value |  | $ | 172 |  | Market prices adjusted for financial |  | Impact of financial guarantee(1) |  | -17% - 75% (7%)
|  |  |  |  |  | guarantees provided to VIE obligations |  |  |  |
| Loan repurchase commitments |  |  | 418 |  | Discounted cash flow |  | Recovery rates(2) |  |
|  |  |  |  |  |  |  | Breach rates(2) |  |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | 366 |  | Market prices of VIE assets adjusted for |  | Impact of financial guarantee |  | 0% - 63% (39%)
|  |  |  |  |  | financial guarantees provided |  |  |  |
Credit derivative liabilities: |  |  |  |  |  |  |  |  |
| CMBS |  |  | 33 |  | 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 and other instruments 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 |  |  | December 31, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  |  | 2018 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed-maturity investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| U.S. Treasury and government agency |  | $ | 1,028 |  | $ | 90 |  | $ | - |  |  | $ | 1,118 |
| State and municipal bonds |  |  | - |  |  | 728 |  |  | - |  |  |  | 728 |
| Foreign governments |  |  | - |  |  | 9 |  |  | - |  |  |  | 9 |
| Corporate obligations |  |  | - |  |  | 1,410 |  |  | - |  |  |  | 1,410 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed agency |  |  | - |  |  | 219 |  |  | - |  |  |  | 219 |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 28 |  |  | - |  |  |  | 28 |
|  | Commercial mortgage-backed |  |  | - |  |  | 47 |  |  | 7 | (1) |  |  | 54 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 121 |  |  | - |  |  |  | 121 |
|  | Other asset-backed |  |  | - |  |  | 181 |  |  | 3 | (1) |  |  | 184 |
|  |  | Total fixed-maturity investments |  |  | 1,028 |  |  | 2,833 |  |  | 10 |  |  |  | 3,871 |
Money market securities |  |  | - |  |  | - |  |  | - |  |  |  | 67 | (2)
Perpetual debt and equity securities |  |  | 23 |  |  | 35 |  |  | - |  |  |  | 58 |
Fixed-income fund |  |  | - |  |  | - |  |  | - |  |  |  | 75 | (2)
Cash and cash equivalents |  |  | 222 |  |  | - |  |  | - |  |  |  | 222 |
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) |  |  | 2018 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Corporate obligations |  |  | - |  |  | 9 |  |  | 5 | (1) |  |  | 14 |
| Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage-backed non-agency |  |  | - |  |  | 92 |  |  | - |  |  |  | 92 |
|  | Commercial mortgage-backed |  |  | - |  |  | 34 |  |  | - |  |  |  | 34 |
| Asset-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Collateralized debt obligations |  |  | - |  |  | 6 |  |  | 1 | (1) |  |  | 7 |
|  | Other asset-backed |  |  | - |  |  | 10 |  |  | - |  |  |  | 10 |
| Cash |  |  | 58 |  |  | - |  |  | - |  |  |  | 58 |
| Loans receivable and other instruments at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential loans receivable |  |  | - |  |  | - |  |  | 172 |  |  |  | 172 |
| Loan repurchase commitments |  |  | - |  |  | - |  |  | 418 |  |  |  | 418 |
| Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Currency derivatives |  |  | - |  |  | - |  |  | 17 | (1) |  |  | 17 |
|  | Other |  |  | - |  |  | - |  |  | 14 | (1) |  |  | 14 |
Total assets |  | $ | 1,331 |  | $ | 3,021 |  | $ | 637 |  |  | $ | 5,131 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medium-term notes |  | $ | - |  | $ | - |  | $ | 102 | (1) |  | $ | 102 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Credit derivatives |  |  | - |  |  | 2 |  |  | 33 |  |  |  | 35 |
| Non-insured derivatives: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest rate derivatives |  |  | - |  |  | 157 |  |  | - |  |  |  | 157 |
|  | Other |  |  | - |  |  | - |  |  | 7 |  |  |  | 7 |
Other liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other payable |  |  | - |  |  | - |  |  | 5 | (1) |  |  | 5 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 114 |  |  | 366 |  |  |  | 480 |
Total liabilities |  | $ | - |  | $ | 273 |  | $ | 513 |  |  | $ | 786 |
____________ |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 and other instruments at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential loans receivable |  |  | - |  |  | - |  |  | 759 |  |  |  | 759 |
|  | Corporate loans receivable and other instruments |  |  | - |  |  | - |  |  | 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 |  | December 31, |  | December 31, |
In millions |  | (Level 1) |  | (Level 2) |  | (Level 3) |  | 2018 |  | 2018 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other investments |  | $ | - |  | $ | 1 |  | $ | - |  | $ | 1 |  | $ | 1 |
Assets of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Investments held-to-maturity |  |  | - |  |  | - |  |  | 925 |  |  | 925 |  |  | 890 |
Total assets |  | $ | - |  | $ | 1 |  | $ | 925 |  | $ | 926 |  | $ | 891 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Long-term debt |  | $ | - |  | $ | 1,101 |  | $ | - |  | $ | 1,101 |  | $ | 2,249 |
| Medium-term notes |  |  | - |  |  | - |  |  | 422 |  |  | 422 |  |  | 620 |
| Investment agreements |  |  | - |  |  | - |  |  | 388 |  |  | 388 |  |  | 311 |
Liabilities of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Variable interest entity notes |  |  | - |  |  | 378 |  |  | 925 |  |  | 1,303 |  |  | 1,264 |
Total liabilities |  | $ | - |  | $ | 1,479 |  | $ | 1,735 |  | $ | 3,214 |  | $ | 4,444 |
Financial Guarantees: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross liability (recoverable) |  | $ | - |  | $ | - |  | $ | 993 |  | $ | 993 |  | $ | (43) |
| Ceded |  |  | - |  |  | - |  |  | 65 |  |  | 65 |  |  | 35 |
|  |  | 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 liability |  | $ | - |  | $ | - |  | $ | 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 Year Ended December 31, 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 |  | December 31,
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 |  |  | - |  |  | - |  |  | (1) |  |  | - |  |  | 5 |  |  | - |  |  | (1) |  |  | (3) |  |  | - |  |  | (2) |  |  | 3 |  |  | -
Assets of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate obligations |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (1) |  |  | - |  |  | 6 |  |  | - |  |  | 5 |  |  | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | 6 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | - |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 759 |  |  | - |  |  | 14 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (114) |  |  | (487) |  |  | - |  |  | - |  |  | 172 |  |  | (22)
Loans receivable and other instruments- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
corporate |  |  | 920 |  |  | - |  |  | 11 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (6) |  |  | (925) |  |  | - |  |  | - |  |  | - |  |  | -
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 407 |  |  | - |  |  | 11 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 418 |  |  | 11
Currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
derivatives |  |  | 19 |  |  | - |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 17 |  |  | (2)
Other |  |  | 14 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 14 |  |  | -
Total assets |  | $ | 2,140 |  | $ | - |  | $ | 34 |  | $ | (1) |  | $ | - |  | $ | 5 |  | $ | - |  | $ | (122) |  | $ | (1,415) |  | $ | 13 |  | $ | (17) |  | $ | 637 |  | $ | (13)
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 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 |  | December 31,
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 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 1 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | (1) |  | $ | 2 |  | $ | -
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
mortgage-backed |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 14 |  |  | (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) |  |  | 9 |  |  | - |  |  | 6 |  |  | -
Collateralized debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
obligations |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | -
Other asset-backed |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1 |  |  | (2) |  |  | - |  |  | -
Loans receivable- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
residential |  |  | 916 |  |  | - |  |  | 79 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (236) |  |  | - |  |  | - |  |  | - |  |  | 759 |  |  | 79
Loans receivable and other instruments- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
corporate |  |  | 150 |  |  | - |  |  | 89 |  |  | - |  |  | - |  |  | 719 |  |  | - |  |  | (38) |  |  | - |  |  | - |  |  | - |  |  | 920 |  |  | 89
Loan repurchase |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
commitments |  |  | 404 |  |  | - |  |  | 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 407 |  |  | 3
Currency derivatives |  |  | 19 |  |  | - |  |  | 2 |  |  | - |  |  | (2) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 19 |  |  | -
Other |  |  | - |  |  | - |  |  | (3) |  |  | - |  |  | - |  |  | 17 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 14 |  |  | (3)
Total assets |  | $ | 1,552 |  | $ | - |  | $ | 170 |  | $ | 2 |  | $ | (2) |  | $ | 737 |  | $ | - |  | $ | (324) |  | $ | (3) |  | $ | 31 |  | $ | (23) |  | $ | 2,140 |  | $ | 168
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 |  | December 31,
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 |  | $ | (9) |  | $ | (1) |  | $ | 55 |  | $ | (10) |  | $ | - |  | $ | - |  | $ | (48) |  | $ | - |  | $ | - |  | $ | - |  | $ | 102 |  | $ | (11)
Credit derivatives |  |  | 63 |  |  | 56 |  |  | (30) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (56) |  |  | - |  |  | - |  |  | - |  |  | 33 |  |  | (30)
Other derivatives |  |  | 4 |  |  | - |  |  | 3 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | 3
Other payable |  |  | 7 |  |  | - |  |  | 1 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (3) |  |  | - |  |  | - |  |  | - |  |  | 5 |  |  | 1
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 406 |  |  | 39 |  |  | (30) |  |  | (20) |  |  | - |  |  | - |  |  | 8 |  |  | (37) |  |  | - |  |  | - |  |  | - |  |  | 366 |  |  | (30)
Total liabilities |  | $ | 595 |  | $ | 86 |  | $ | (57) |  | $ | 35 |  | $ | (10) |  | $ | - |  | $ | 8 |  | $ | (144) |  | $ | - |  | $ | - |  | $ | - |  | $ | 513 |  | $ | (67)
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  | December 31,
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 |  | $ | - |  | $ | (1) |  | $ | - |  | $ | 15 |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 115 |  | $ | 14
Credit derivatives |  |  | 64 |  |  | 51 |  |  | (1) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (51) |  |  | - |  |  | - |  |  | - |  |  | 63 |  |  | 1
Other derivatives |  |  | 20 |  |  | - |  |  | 18 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (34) |  |  | - |  |  | - |  |  | - |  |  | 4 |  |  | 18
Other payable |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 7 |  |  | -
Liabilities of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
VIE notes |  |  | 476 |  |  | - |  |  | 37 |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (56) |  |  | (51) |  |  | - |  |  | - |  |  | 406 |  |  | 37
Total liabilities |  | $ | 661 |  | $ | 51 |  | $ | 53 |  | $ | - |  | $ | 15 |  | $ | 7 |  | $ | - |  | $ | (141) |  | $ | (51) |  | $ | - |  | $ | - |  | $ | 595 |  | $ | 70
_______________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |
|  |  |  |  | Change in Unrealized Gains (Losses)
|  |  |  |  |  |  |  |  | for the Period Included in Earnings
|  |  | Total Gains (Losses) |  | for Assets and Liabilities still
In millions |  | Included in Earnings |  | held as of December 31,
|  |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Unrealized gains (losses) on |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| insured derivatives |  | $ | 30 |  | $ | 1 |  | $ | 21 |  | $ | 30 |  | $ | (1) |  | $ | 13
| Realized gains (losses) and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| settlements on insured derivatives |  |  | (56) |  |  | (51) |  |  | (43) |  |  | - |  |  | - |  |  | -
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 17 |  |  | (32) |  |  | 1 |  |  | 8 |  |  | (32) |  |  | 1
| Net investment losses related to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| other-than-temporary impairments |  |  | - |  |  | - |  |  | (1) |  |  | - |  |  | - |  |  | -
| Other net realized gains (losses) |  |  | (1) |  |  | - |  |  | - |  |  | (1) |  |  | - |  |  | -
| Revenues of consolidated VIEs: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net gains (losses) on financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| at fair value and foreign exchange |  |  | 25 |  |  | 131 |  |  | 14 |  |  | 17 |  |  | 131 |  |  | 32
Total |  | $ | 15 |  | $ | 49 |  | $ | (8) |  | $ | 54 |  | $ | 98 |  | $ | 46
Changes In Fair Value Included In The Company's Consolidated Statements Of Operations |
|  |  |  | Years Ended December 31, |
| In millions |  | 2018 |  | 2017 |  | 2016 |
| Investments carried at fair value(1) |  | $ | (11) |  | $ | 8 |  | $ | 7 |
| Fixed-maturity securities held at fair value-VIE(2) |  |  | (25) |  |  | (22) |  |  | (124) |
| Loans receivable and other instruments at fair value: |  |  |  |  |  |  |  |  |  |
|  | Residential mortgage loans(2) |  |  | (100) |  |  | (158) |  |  | (268) |
|  | Corporate loans and other instruments(2) |  |  | 11 |  |  | 52 |  |  | - |
| Loan repurchase commitments(2) |  |  | 12 |  |  | 3 |  |  | 8 |
| Other assets-VIE(2) |  |  | - |  |  | (3) |  |  | - |
| Medium-term notes(1) |  |  | 19 |  |  | (14) |  |  | 4 |
| Other liabilities(3) |  |  | (2) |  |  | - |  |  | - |
| Variable interest entity notes (2) |  |  | 118 |  |  | 230 |  |  | 383 |
| ___________ |  |  |  |  |  |  |  |  |
| (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 December 31, 2018 |  |  | As of December 31, 2017
|  |  | Contractual |  |  |  |  |  |  |  | Contractual |  |  |  |  |  |
|  |  | Outstanding |  | Fair |  |  |  |  | Outstanding |  | Fair |  |  |
In millions |  | Principal |  | Value |  | Difference |  | Principal |  | Value |  | Difference
Loans receivable and other instruments at fair value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Residential mortgage loans |  | $ | 168 |  | $ | 164 |  | $ | 4 |  | $ | 732 |  | $ | 727 |  | $ | 5
| Residential mortgage loans (90 days or more past due) |  |  | 153 |  |  | 8 |  |  | 145 |  |  | 170 |  |  | 32 |  |  | 138
| Corporate loans and other instruments (90 days |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| or more past due) |  |  | - |  |  | - |  |  | - |  |  | 1,394 |  |  | 920 |  |  | 474
Total loans receivable and other instruments at fair value |  | $ | 321 |  | $ | 172 |  | $ | 149 |  | $ | 2,296 |  | $ | 1,679 |  | $ | 617
Variable interest entity notes |  | $ | 1,295 |  | $ | 480 |  | $ | 815 |  | $ | 1,882 |  | $ | 1,069 |  | $ | 813
Medium-term notes |  | $ | 114 |  | $ | 102 |  | $ | 12 |  | $ | 180 |  | $ | 115 |  | $ | 65

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