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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

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		2013		Valuation Techniques	Unobservable Input	Average)
Assets of consolidated VIEs:
	Loans receivable at fair value	$	1,612	Market prices adjusted for financial	Impact of financial guarantee	0% - 17% (3%)
				guarantees provided to VIE obligations
	Loan repurchase commitments		359	Discounted cash flow	Recovery rates⁽¹⁾
					Breach rates⁽¹⁾

Liabilities of consolidated VIEs:
	Variable interest entity notes		940	Market prices of VIE assets	Impact of financial guarantee	0% - 25% (12%)
				adjusted for financial guarantees provided

Credit derivative liabilities, net:
	CMBS		1,050	BET Model	Recovery rates	25% - 90% (60%)
					Nonperformance risk	8% - 57% (25%)
					Weighted average life (in years)	1.1 - 28.0 (3.3)
					CMBS spreads	1% - 29% (13%)
	Multi-sector CDO		12	Direct Price Model	Nonperformance risk	57% - 57% (57%)
	Other		85	BET Model and Dual Default	Recovery rates	42% - 90% (45%)
					Nonperformance risk	13% - 54% (25%)
					Weighted average life (in years)	0.2 - 8.7 (2.3)
____________
(1) - Recovery rates and breach rates include estimates about potential variations in the outcome of litigation with a counterparty.

		Fair Value
		as of				Range
		December 31,				(Weighted
In millions		2012		Valuation Techniques	Unobservable Input	Average)
Assets of consolidated VIEs:
	Loans receivable at fair value	$	1,881	Market prices adjusted for financial	Impact of financial guarantee	0% - 14% (3%)
				guarantees provided to VIE obligations
	Loan repurchase commitments		1,086	Discounted cash flow	Recovery rates	10% - 75% (47%)
					Breach rates	66% - 94% (78%)

Liabilities of consolidated VIEs:
	Variable interest entity notes		1,932	Market prices of VIE assets	Impact of financial guarantee	0% - 23% (6%)
				adjusted for financial guarantees provided

Credit derivative liabilities, net:
	CMBS		1,590	BET Model	Recovery rates	21% - 90% (51%)
					Nonperformance risk	19% - 59% (58%)
					Weighted average life (in years)	0.1 - 5.6 (4.4)
					CMBS spreads	1% - 23% (13%)
	Multi-sector CDO		525	Direct Price Model	Nonperformance risk	59% - 59% (59%)
	Other		806	BET Model and Dual Default	Recovery rates	42% - 75% (47%)
					Nonperformance risk	42% - 59% (58%)
					Weighted average life (in years)	0.1 - 19.6 (3.0)

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			Counterparty
				for Identical		Observable		Unobservable			and Cash		Balance as of
				Assets		Inputs		Inputs			Collateral		December 31,
In millions				(Level 1)		(Level 2)		(Level 3)			Netting		2013
Assets:
Fixed-maturity investments:
	U.S. Treasury and government agency			$	397	$	156	$	0		$	0	$	553
	State and municipal bonds				0		1,765		19	⁽¹⁾		0		1,784
	Foreign governments				112		65		12	⁽¹⁾		0		189
	Corporate obligations				0		1,776		48	⁽¹⁾		0		1,824
	Mortgage-backed securities:
		Residential mortgage-backed agency			0		1,173		0			0		1,173
		Residential mortgage-backed non-agency			0		86		6	⁽¹⁾		0		92
		Commercial mortgage-backed			0		25		14	⁽¹⁾		0		39
	Asset-backed securities:
		Collateralized debt obligations			0		72		82	⁽¹⁾		0		154
		Other asset-backed			0		130		58	⁽¹⁾		0		188
			Total fixed-maturity investments		509		5,248		239			0		5,996
Money market securities					783		0		0			0		783
Perpetual debt and equity securities					27		13		11	⁽¹⁾		0		51
Cash and cash equivalents					1,161		0		0			0		1,161
Derivative assets:
	Non-insured derivative assets:
		Interest rate derivatives			0		46		0			(42)		4
			Total derivative assets		0		46		0			(42)		4

				Fair Value Measurements at Reporting Date Using
				Quoted Prices in		Significant
				Active Markets		Other		Significant			Counterparty
				for Identical		Observable		Unobservable			and Cash		Balance as of
				Assets		Inputs		Inputs			Collateral		December 31,
In millions				(Level 1)		(Level 2)		(Level 3)			Netting		2013
Assets of consolidated VIEs:
	Corporate obligations				0		41		48	⁽¹⁾		0		89
	Mortgage-backed securities:
		Residential mortgage-backed non-agency			0		255		4	⁽¹⁾		0		259
		Commercial mortgage-backed			0		102		3	⁽¹⁾		0		105
	Asset-backed securities:
		Collateralized debt obligations			0		14		22	⁽¹⁾		0		36
		Other asset-backed			0		44		54	⁽¹⁾		0		98
	Money market securities				136		0		0			0		136
	Cash				97		0		0			0		97
	Loans receivable				0		0		1,612			0		1,612
	Loan repurchase commitments				0		0		359			0		359
Total assets				$	2,713	$	5,763	$	2,352		$	(42)	$	10,786
Liabilities:
Medium-term notes				$	0	$	0	$	203	⁽¹⁾	$	0	$	203
Derivative liabilities:
	Insured derivatives:
		Credit derivatives			0		5		1,147			0		1,152
	Non-insured derivatives:
		Interest rate derivatives			0		165		0			(165)		0
Other liabilities:
	Warrants				0		59		0			0		59
Liabilities of consolidated VIEs:
	Variable interest entity notes				0		1,416		940			0		2,356
	Derivative liabilities:
		Currency derivatives			0		0		11	⁽¹⁾		0		11
Total liabilities				$	0	$	1,645	$	2,301		$	(165)	$	3,781
____________
(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.

				Fair Value Measurements at Reporting Date Using
				Quoted Prices in		Significant
				Active Markets		Other		Significant			Counterparty
				for Identical		Observable		Unobservable			and Cash		Balance as of
				Assets		Inputs		Inputs			Collateral		December 31,
In millions				(Level 1)		(Level 2)		(Level 3)			Netting		2012
Assets:
Fixed-maturity investments:
	U.S. Treasury and government agency			$	784	$	100	$	0		$	0	$	884
	State and municipal bonds				0		1,429		103	⁽¹⁾		0		1,532
	Foreign governments				86		107		3	⁽¹⁾		0		196
	Corporate obligations				0		1,140		76	⁽¹⁾		0		1,216
	Mortgage-backed securities:
		Residential mortgage-backed agency			0		988		0			0		988
		Residential mortgage-backed non-agency			0		94		4	⁽¹⁾		0		98
		Commercial mortgage-backed			0		20		28	⁽¹⁾		0		48
	Asset-backed securities:
		Collateralized debt obligations			0		65		31	⁽¹⁾		0		96
		Other asset-backed			0		119		26	⁽¹⁾		0		145
			Total fixed-maturity investments		870		4,062		271			0		5,203
Money market securities					585		8		0			0		593
Perpetual debt and equity securities					23		20		14	⁽¹⁾		0		57
Cash and cash equivalents					814		0		0			0		814
Derivative assets:
	Non-insured derivative assets:
		Interest rate derivatives			0		89		5	⁽¹⁾		(90)		4
			Total derivative assets		0		89		5			(90)		4

				Fair Value Measurements at Reporting Date Using
				Quoted Prices in		Significant
				Active Markets		Other		Significant			Counterparty
				for Identical		Observable		Unobservable			and Cash		Balance as of
				Assets		Inputs		Inputs			Collateral		December 31,
In millions				(Level 1)		(Level 2)		(Level 3)			Netting		2012
Assets of consolidated VIEs:
	State and municipal bonds				0		41		0			0		41
	Corporate obligations				0		215		78	⁽¹⁾		0		293
	Mortgage-backed securities:
		Residential mortgage-backed non-agency			0		869		6	⁽¹⁾		0		875
		Commercial mortgage-backed			0		410		7	⁽¹⁾		0		417
	Asset-backed securities:
		Collateralized debt obligations			0		215		125	⁽¹⁾		0		340
		Other asset-backed			0		120		64	⁽¹⁾		0		184
	Money market securities				210		0		0			0		210
	Cash				176		0		0			0		176
	Loans receivable				0		0		1,881			0		1,881
	Loan repurchase commitments				0		0		1,086			0		1,086
Total assets				$	2,678	$	6,049	$	3,537		$	(90)	$	12,174
Liabilities:
Medium-term notes				$	0	$	0	$	165	⁽¹⁾	$	0	$	165
Derivative liabilities:
	Insured derivatives:
		Credit derivatives			0		13		2,921			0		2,934
	Non-insured derivatives:
		Interest rate derivatives			0		287		4	⁽¹⁾		(293)		(2)
		Currency derivatives			0		1		1	⁽¹⁾		0		2
Other liabilities:
	Warrants				0		6		0			0		6
Liabilities of consolidated VIEs:
	Variable interest entity notes				0		1,727		1,932			0		3,659
	Derivative liabilities:
		Interest rate derivatives			0		141		0			0		141
		Currency derivatives			0		0		21	⁽¹⁾		0		21
Total liabilities				$	0	$	2,175	$	5,044		$	(293)	$	6,926
____________
(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.

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)		2013		2013
Assets:
	Other investments	$	0	$	0	$	4	$	4	$	5
	Accrued investment income⁽¹⁾		0		52		0		52		52
	Receivable for investments sold⁽¹⁾		0		22		0		22		22
	Net cash collateral pledged⁽¹⁾		24		0		0		24		24
Assets of consolidated VIEs:
	Investments held-to-maturity		0		0		2,651		2,651		2,801
Total assets		$	24	$	74	$	2,655	$	2,753	$	2,904
Liabilities:
	Investment agreements	$	0	$	0	$	814	$	814	$	700
	Medium-term notes		0		0		927		927		1,224
	Long-term debt		0		1,412		0		1,412		1,702
	Payable for investments purchased⁽²⁾		0		31		0		31		31
Liabilities of consolidated VIEs:
	Variable interest entity notes		0		0		2,751		2,751		2,930
Total liabilities		$	0	$	1,443	$	4,492	$	5,935	$	6,587
Financial Guarantees:
	Gross	$	0	$	0	$	2,843	$	2,843	$	2,388
	Ceded		0		0		71		71		76
__________
(1) - Reported within "Other assets" on MBIA's consolidated balance sheets.
(2) - Reported within "Other liabilities" on MBIA's consolidated balance sheets.

		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)		2012		2012
Assets:
	Other investments	$	0	$	0	$	9	$	9	$	9
	Accrued investment income⁽¹⁾		0		43		0		43		43
	Receivable for investments sold⁽¹⁾		0		17		0		17		17
	Net cash collateral pledged⁽¹⁾		66		0		0		66		66
Assets of consolidated VIEs:
	Investments held-to-maturity		0		0		2,674		2,674		2,829
Total assets		$	66	$	60	$	2,683	$	2,809	$	2,964
Liabilities:
	Investment agreements	$	0	$	0	$	1,175	$	1,175	$	944
	Medium-term notes		0		0		860		860		1,433
	Long-term debt		0		711		0		711		1,732
	Payable for investments purchased⁽²⁾		0		50		0		50		50
Liabilities of consolidated VIEs:
	Variable interest entity notes		0		0		3,147		3,147		3,465
Total liabilities		$	0	$	761	$	5,182	$	5,943	$	7,624
Financial Guarantees:
	Gross	$	0	$	0	$	650	$	650	$	143
	Ceded		0		0		97		97		91
__________
(1) - Reported within "Other assets" on MBIA's consolidated balance sheets.
(2) - Reported within "Other liabilities" on MBIA's consolidated balance sheets.

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, 2013
																									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		2013
Assets:
Foreign governments	$	3	$	0	$	0	$	0	$	0	$	10	$	0	$	(16)	$	0	$	18	$	(3)	$	12	$	0
Corporate obligations		76		(5)		7		13		0		1		0		(16)		(28)		1		(1)		48		7
Residential mortgage-
backed agency		0		0		0		0		0		0		0		(1)		0		20		(19)		0		0
Residential mortgage-
backed non-agency		4		0		0		0		0		0		0		(2)		0		5		(1)		6		0
Commercial
mortgage-backed		28		0		0		4		0		0		0		(1)		(19)		3		(1)		14		0
Collateralized debt
obligations		31		(2)		1		12		0		61		0		(17)		(5)		31		(30)		82		1
Other asset-backed		26		0		0		(3)		0		3		0		(10)		0		47		(5)		58		0
State and municipal
bonds		103		2		0		(1)		0		0		0		(5)		(13)		42		(109)		19		0
Perpetual debt and equity securities		14		0		0		0		0		0		0		0		0		0		(3)		11		0
Assets of
consolidated VIEs:
Corporate obligations		78		(4)		(7)		6		0		0		0		(4)		(24)		3		0		48		0
Residential mortgage-
backed non-agency		6		0		6		0		0		0		0		(7)		0		3		(4)		4		0
Commercial
mortgage-backed		7		0		0		0		0		0		0		0		(24)		20		0		3		1
Collateralized debt
obligations		125		0		(8)		5		0		0		0		(5)		(85)		4		(14)		22		1
Other asset-backed		64		0		(9)		0		0		0		0		(14)		(2)		21		(6)		54		2
Loans receivable		1,881		0		180		0		0		0		0		(275)		(174)		0		0		1,612		166
Loan repurchase
commitments		1,086		0		172		0		0		0		0		(899)		0		0		0		359		172
Total assets	$	3,532	$	(9)	$	342	$	36	$	0	$	75	$	0	$	(1,272)	$	(374)	$	218	$	(196)	$	2,352	$	350

Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Year Ended December 31, 2012
																									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		2012
Assets:
Foreign governments	$	11	$	0	$	0	$	0	$	1	$	21	$	0	$	(29)	$	(4)	$	3	$	0	$	3	$	0
Corporate obligations		207		(15)		10		27		0		17		0		(29)		(141)		25		(25)		76		9
Residential mortgage-
backed agency		0		0		0		0		0		0		0		0		0		4		(4)		0		0
Residential mortgage-
backed non-agency		17		(1)		0		0		0		0		0		(13)		(5)		31		(25)		4		0
Commercial
mortgage-backed		32		0		0		6		0		1		0		0		0		1		(12)		28		0
Collateralized debt
obligations		60		(9)		0		20		0		1		0		(15)		(10)		18		(34)		31		0
Other asset-backed		317		(46)		0		73		0		3		0		(29)		(285)		4		(11)		26		0
State and municipal
bonds		28		0		0		(1)		0		0		0		(7)		0		83		0		103		0
Perpetual debt and equity securities		11		0		1		2		0		0		0		0		0		3		(3)		14		0
Assets of
consolidated VIEs:
Corporate obligations		69		0		(19)		(6)		0		27		0		(5)		0		15		(3)		78		3
Residential mortgage-
backed non-agency		21		0		6		0		0		0		0		(7)		(16)		6		(4)		6		3
Commercial
mortgage-backed		22		0		4		0		0		0		0		(4)		(9)		5		(11)		7		1
Collateralized debt
obligations		203		0		(25)		2		0		0		0		(12)		(74)		56		(25)		125		5
Other asset-backed		67		0		6		0		0		4		0		(11)		(36)		34		0		64		7
Loans receivable		2,046		0		114		0		0		0		0		(277)		(2)		0		0		1,881		114
Loan repurchase
commitments		1,077		0		9		0		0		0		0		0		0		0		0		1,086		9
Total assets	$	4,188	$	(71)	$	106	$	123	$	1	$	74	$	0	$	(438)	$	(582)	$	288	$	(157)	$	3,532	$	151

Changes In Level 3 Liabilities Measured At Fair Value On A Recurring Basis

																									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		2013
Liabilities:
Medium-term notes	$	165	$	0	$	29	$	0	$	9	$	0	$	0	$	0	$	0	$	0	$	0	$	203	$	38
Credit derivatives, net		2,921		1,548		(1,778)		0		0		0		0		(1,548)		0		4		0		1,147		87
Interest rate
derivatives, net		(1)		0		2		0		0		0		0		0		0		0		(1)		0		(18)
Currency
derivatives, net		1		0		0		0		0		0		0		0		0		0		(1)		0		0
Liabilities of
consolidated VIEs:
VIE notes		1,932		0		180		0		0		0		0		(277)		(1,076)		181		0		940		92
Currency derivatives,
net		21		0		(10)		0		0		0		0		0		0		0		0		11		(10)
Total liabilities	$	5,039	$	1,548	$	(1,577)	$	0	$	9	$	0	$	0	$	(1,825)	$	(1,076)⁽²⁾	$	185	$	(2)	$	2,301	$	189
_______________
(1) - Transferred in and out at the end of the period.
(2) - Primarily relates to the deconsolidation of VIEs.

																									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		2012
Liabilities:
Medium-term notes	$	165	$	0	$	(3)	$	0	$	3	$	0	$	0	$	0	$	0	$	0	$	0	$	165	$	(3)
Credit derivatives, net		4,790		407		(1,869)		0		0		0		0		(407)		0		0		0		2,921		(927)
Interest rate
derivatives, net		(3)		0		(2)		0		0		0		0		0		0		4		0		(1)		18
Currency
derivatives, net		0		0		0		0		0		0		0		0		0		1		0		1		0
Liabilities of
consolidated VIEs:
VIE notes		2,889		0		465		0		0		0		0		(439)		(983)		0		0		1,932		409
Credit derivatives, net		80		0		2		0		0		0		0		0		(82)		0		0		0		0
Currency derivatives,
net		17		0		4		0		0		0		0		0		0		0		0		21		4
Total liabilities	$	7,938	$	407	$	(1,403)	$	0	$	3	$	0	$	0	$	(846)	$	(1,065)⁽²⁾	$	5	$	0	$	5,039	$	(499)
_______________
(1) - Transferred in and out at the end of the period.
(2) - Primarily relates to the deconsolidation of VIEs.

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,

		2013		2012		2011		2013		2012		2011

Revenues:
	Net investment income	$	0	$	0	$	(5)	$	0	$	0	$	0
	Unrealized gains (losses) on
	insured derivatives		1,778		1,869		(440)		(87)		927		(2,702)
	Realized gains (losses) and other
	settlements on insured derivatives		(1,548)		(407)		(2,373)		0		0		0
	Net gains (losses) on financial instruments
	at fair value and foreign exchange		(37)		13		(87)		(12)		(6)		(90)
	Net investment losses related to
	other-than-temporary impairments		0		(68)		(60)		0		0		0
	Revenues of consolidated VIEs:
	Net gains (losses) on financial instruments
	at fair value and foreign exchange		160		(376)		230		260		(271)		347
Total		$	353	$	1,031	$	(2,735)	$	161	$	650	$	(2,445)

Changes In Fair Value Included In The Company's Consolidated Statements Of Operations

		Net Gains (Losses) on Financial
		Instruments at Fair Value
		and Foreign Exchange
In millions		2013		2012		2011
Fixed-maturity securities held at fair value		$	(74)	$	(55)	$	(484)
Loans receivable at fair value:
	Residential mortgage loans		(107)		(107)		(143)
	Other loans		13		(56)		(19)
Loan repurchase commitments			172		9		242
Variable interest entity notes			155		107		594

Difference Between Aggregate Fair Value And The Aggregate Remaining Contractual Principal Balance Outstanding

		As of December 31, 2013							As of December 31, 2012
		Contractual						Contractual
		Outstanding		Fair				Outstanding		Fair
In millions		Principal		Value		Difference		Principal		Value		Difference
Loans receivable at fair value:
	Residential mortgage loans	$	1,846	$	1,562	$	284	$	2,307	$	1,735	$	572
	Residential mortgage loans (90 days or more past due)		231		50		181		244		54		190
	Other loans		0		0		0		22		22		0
	Other loans (90 days or more past due)		0		0		0		197		70		127
Total loans receivable at fair value		$	2,077	$	1,612	$	465	$	2,770	$	1,881	$	889

Variable interest entity notes		$	3,787	$	2,356	$	1,431	$	9,021	$	3,659	$	5,362

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, provide the aggregate carrying amount of ineligible items included in each line item in the balance sheet, if any; (b) the difference between the aggregate fair value and the aggregate unpaid principal balance (assuming contractual principal amounts and fair value option elected) of: (i) loans and long-term receivables (other than securities otherwise reported at fair value) and (ii) long-term debt instruments; (c) for loans held as assets for which the fair value option has been elected: (i) the aggregate fair value of loans that are 90 days or more past due, (ii) if the policy is to recognize interest income separately from other changes in fair value, the aggregate fair value of loans in nonaccrual status, and (iii) the difference between the aggregate fair value and the aggregate unpaid principal balance for loans that are 90 days or more past due, in nonaccrual status, or both; (2) for items included in the income statement: (a) the amounts of gains and losses from fair value changes included in earnings and in which line in the income statement those gains and losses are reported whether or not combined with gains and losses from items required to be accounted for at fair value; (b) for loans and other receivables held as assets, the estimated amount of gains or losses included in earnings attributable to changes in instrument-specific credit risk; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk, the estimated amount of gains and losses from fair value changes included in earnings that are attributable to changes in the instrument-specific credit risk; and (3) certain other disclosures as required or determined to be provided.

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