8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



         Date of Report (Date of earliest event reported): April 4, 2005

                                    MBIA INC.
             (Exact name of registrant as specified in its charter)

         Connecticut                    1-9583                   06-1185706
(State or other jurisdiction    (Commission File Number)        (IRS Employer
      of incorporation)                                      Identification No.)

       113 King Street,
       Armonk, New York                                 10504
(Addresses of principal executive offices)            (Zip Code)

               Registrant's telephone number, including area code:
                                  914-273-4545

                                 Not Applicable
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))




Item 8.01. OTHER EVENTS.

The following information, including the Exhibit to this Form 8-K, is being
furnished pursuant to Item 8.01 - Other Events of Form 8-K.

On April 4, 2005, MBIA Inc. issued a press release announcing that it has
purchased over 3.4 million shares as part of its buyback program in the first
quarter of 2005. MBIA has approximately 7.4 million shares remaining in the
share buyback program, which was authorized by its Board of Directors in 2004.

A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is
incorporated by reference to this Item 8.01 as if fully set forth herein.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

99.1 Press Release issued by MBIA Inc. dated April 4, 2005.




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                         MBIA INC.


                                                         By: /s/ Ram D. Wertheim
                                                             -------------------
                                                             Ram D. Wertheim
                                                             General Counsel

Date: April 5, 2005




                   EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
                               Dated April 4, 2005


Exhibit 99.1 Press Release issued by MBIA Inc. dated April 4, 2005.

EX-99.1

                                                                    Exhibit 99.1

              MBIA Purchases Shares as Part of Its Buyback Program

     ARMONK, N.Y.--(BUSINESS WIRE)--April 4, 2005--MBIA Inc. (NYSE:MBI)
announced today that the Company has purchased over 3.4 million shares as part
of its buyback program in the first quarter of 2005. The Company has
approximately 7.4 million shares remaining in the share buyback program, which
was authorized by the board in 2004.
     Nicholas Ferreri, MBIA Chief Financial Officer said, "In the first quarter,
we saw an excellent opportunity to purchase stock at very attractive prices.
MBIA has a strong capital position and the stock repurchase program enables us
to return value to our shareholders. We will continue to purchase shares
depending on market conditions."
     MBIA Inc., through its subsidiaries, is a leading financial guarantor and
provider of specialized financial services. MBIA's innovative and cost-effective
products and services meet the credit enhancement, financial and investment
needs of its public and private sector clients, domestically and
internationally. MBIA Inc.'s principal operating subsidiary, MBIA Insurance
Corporation, has a financial strength rating of Triple-A from Moody's Investors
Service, Standard & Poor's Ratings Services, Fitch Ratings, and Rating and
Investment Information, Inc. Please visit MBIA's Web site at
http://www.mbia.com.


     CONTACT: MBIA Inc.
              Liz James, 914-765-3889