Exhibit 21

SUBSIDIARIES OF MBIA INC.

Name of Subsidiary		State/Country of Incorporation
Alliance For Responsible Municipal Government, LLC		Delaware
LaCrosse Financial Products, LLC		Delaware
LaCrosse Financial Products Member, LLC		Delaware
MBIA Capital Corp.		Delaware
MBIA Global Funding, LLC		Delaware
MBIA Insurance Corporation		New York
MBIA Investment Management Corp.		Delaware
MBIA Mexico, S.A. de C.V.		Mexico
MBIA Services Corporation		Delaware
Municipal Issuers Service Corporation		New York
MZ Funding LLC		Delaware
National Public Finance Guarantee Holdings, Inc.		Delaware
National Public Finance Guarantee Corporation		New York
Promotora de Infraestructura Registral II, S.A. de C.V., SOFOM, E.R.		Mexico