Investment Income And Gains And Losses (Tables)

3 Months Ended

Mar. 31, 2012

Investment Income And Gains And Losses [Abstract]

Total Investment Income From All Operations

	Three Months Ended March 31,
In millions	2012		2011
Net investment income:
Fixed-maturity	$	58	$	107
Held-to-maturity		1		2
Short-term investments		1		-
Other investments		2		5
Consolidated VIEs		17		17
Net investment income		79		131
Realized gains and losses:
Fixed-maturity:
Gains(1)		39		54
Losses		(157)		(40)
Net		(118)		14
Other investments:
Gains		1		9
Losses		(14)		-
Net		(13)		9
Total net realized gains (losses)(2)		(131)		23
Total investment income	$	(52)	$	154
(1) - Includes net trading gains of $4 million for the three months ended March 31, 2012. (2) - These balances are included in the "Net gains (losses) on financial instruments at fair value and foreign exchange" and "Net investment losses related to other-than-temporary impairments" line items on MBIA's consolidated statements of operations.

Credit Losses Recognized In Earnings Related To OTTI Losses Recognized In Accumulated Other Comprehensive Income (Loss)

In millions	Three Months Ended March 31,
Credit Losses Recognized in Earnings Related to Other-Than-Temporary Impairments	2012		2011
Beginning balance	$	341	$	262
Additions for credit loss impairments recognized in the current period on securities previously impaired		2		7
Reductions for credit loss impairments previously recognized on securities sold during the period		(7)		(3)
Reductions for credit loss impairments previously recognized on securities impaired to fair value during the period(1)		(59)		-
Ending balance	$	277	$	266
(1) - Represents circumstances where the Company determined in the current period that it intends to sell the security or it is more likely than not that it will be required to sell the security before recovery of the security's amortized cost.

Significant Inputs Used In Schedule Of Measurement Of Credit Loss Component Recognized In Earnings For Each Significant Class Of ABS

	Three Months Ended March 31,
Asset-backed Securities	2012		2011
Expected size of losses(1):
Range(2)		12.13% to 100.00%		6.04% to 100.00%
Weighted average(3)		90.60%		85.75%
Current subordination levels(4):
Range(2)		0.00% to 0.00%		0.00% to 6.24%
Weighted average(3)		0.00%		0.09%
Prepayment speed (annual CPR)(5):
Range(2)		0.00 to 22.68		0.00 to 68.89
Weighted average(3)		10.21		20.70
(1) - Represents future expected credit losses on impaired assets expressed as a percentage of total outstanding balance. (2) - Represents the range of inputs/assumptions based upon the individual securities within each category. (3) - Calculated by weighting the relevant input/assumption for each individual security by the outstanding notional of the security. (4) - Represents current level of credit protection (subordination) for the securities, expressed as a percentage of the balance of the collateral group backing the bond. (5) - Values represent high and low points of lifetime vectors of constant prepayment rates.

Net Unrealized Gains (Losses), Including Portion Of Other-Than-Temporary Impairments Included In Accumulated Other Comprehensive Income (Loss), Reported Within Shareholders' Equity

In millions	As of March 31, 2012		As of December 31, 2011
Fixed-maturity:
Gains	$	252	$	262
Losses		(278)		(459)
Foreign exchange		21		(5)
Net		(5)		(202)
Other investments:
Gains		2		1
Losses		-		(19)
Net		2		(18)
Total		(3)		(220)
Deferred income tax provision (benefit)		(20)		(86)
Unrealized gains (losses), net	$	17	$	(134)

Change In Net Unrealized Gains/Losses

In millions	As of March 31, 2012		As of December 31, 2011
Fixed-maturity	$	197	$	386
Other investments		20		(6)
Total		217		380
Deferred income tax charged (credited)		66		122
Change in unrealized gains (losses), net	$	151	$	258