XML 57 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value Of Financial Instruments (Changes In Level 3 Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Detail) - Fair Value Inputs Level 3 [Member] - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets $ 638 $ 669 $ 649 $ 637
Total gains/(losses) included in earnings, assets 35 5 27 47
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets (4) (9) (7) (19)
Sales, assets 0 (49) 0 (49)
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 (3) [2] 0 (3) [2]
Ending balance, fair value assets 669 613 669 613
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets 33 4 26 43
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Beginning balance, fair value liabilities 424 532 500 513
Total gains/(losses) included in earnings, liabilities 15 16 (4) 52
Unrealized gains/(losses) included in OCI, liabilities (4) 9 (51) [3] (1)
Purchases, liabilities 0 0 0 0
Issuances, liabilities 0 0 0 4
Settlements, liabilities (3) (8) (13) (19)
Sales, liabilities 0 (60) 0 (60)
Transfers into Level 3, liabilities 0 0 [2] 0 0 [2]
Transfers out of Level 3, liabilities 0 0 [2] 0 0 [2]
Ending balance, fair value liabilities 432 489 432 489
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities 14 17 (7) 43
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held (4) [4]   (50) [3]  
Residential Prime Financing Receivable [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets 98 206 136 172
Total gains/(losses) included in earnings, assets 22 1 (13) 43
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets (4) (5) (7) (13)
Sales, assets 0 (48) 0 (48)
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 0 [2] 0 0 [2]
Ending balance, fair value assets 116 154 116 154
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets 20 (1) (14) 38
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Loan Repurchase Commitments [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets 506 420 486 418
Total gains/(losses) included in earnings, assets 18 8 38 10
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets 0 0 0 0
Sales, assets 0 0 0 0
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 0 [2] 0 0 [2]
Ending balance, fair value assets 524 428 524 428
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets 18 8 38 10
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Corporate Obligations [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets   5   5
Total gains/(losses) included in earnings, assets   0   0
Unrealized gains/(losses) included in OCI, assets   0   0
Purchases, assets   0   0
Issuances, assets   0   0
Settlements, assets   (2)   (2)
Sales, assets   0   0
Transfers into level 3, assets [2]   0   0
Transfers out of level 3, assets [2]   (3)   (3)
Ending balance, fair value assets   0   0
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets   0   0
Commercial Mortgage Backed Securities [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets   6   7
Total gains/(losses) included in earnings, assets   0   0
Unrealized gains/(losses) included in OCI, assets   0   0
Purchases, assets   0   0
Issuances, assets   0   0
Settlements, assets   (2)   (3)
Sales, assets   0   0
Transfers into level 3, assets [2]   0   0
Transfers out of level 3, assets [2]   0   0
Ending balance, fair value assets   4   4
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets   0   0
Collateralized Debt Obligations [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets   1   1
Total gains/(losses) included in earnings, assets   0   0
Unrealized gains/(losses) included in OCI, assets   0   0
Purchases, assets   0   0
Issuances, assets   0   0
Settlements, assets   0   0
Sales, assets   (1)   (1)
Transfers into level 3, assets [2]   0   0
Transfers out of level 3, assets [2]   0   0
Ending balance, fair value assets   0   0
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets   0   0
Other Asset Backed [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets 1 2 1 3
Total gains/(losses) included in earnings, assets 0 (1) 0 (1)
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets 0 0 0 (1)
Sales, assets 0 0 0 0
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 0 [2] 0 0 [2]
Ending balance, fair value assets 1 1 1 1
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets 0 0 0 0
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Medium Term Notes [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value liabilities 98 106 108 102
Total gains/(losses) included in earnings, liabilities (1) (3) 1 5
Unrealized gains/(losses) included in OCI, liabilities (1) 10 (13) [3] 6
Purchases, liabilities 0 0 0 0
Issuances, liabilities 0 0 0 0
Settlements, liabilities 0 (3) 0 (3)
Sales, liabilities 0 0 0 0
Transfers into Level 3, liabilities 0 0 [2] 0 0 [2]
Transfers out of Level 3, liabilities 0 0 [2] 0 0 [2]
Ending balance, fair value liabilities 96 110 96 110
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities (1) (2) 1 4
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held (1) [4]   (13) [3]  
Credit Derivatives [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value liabilities 8 19 7 33
Total gains/(losses) included in earnings, liabilities 0 1 1 (13)
Unrealized gains/(losses) included in OCI, liabilities 0 0 0 [3] 0
Purchases, liabilities 0 0 0 0
Issuances, liabilities 0 0 0 0
Settlements, liabilities 0 (2) 0 (2)
Sales, liabilities 0 0 0 0
Transfers into Level 3, liabilities 0 0 [2] 0 0 [2]
Transfers out of Level 3, liabilities 0 0 [2] 0 0 [2]
Ending balance, fair value liabilities 8 18 8 18
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities 0 0 1 (14)
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held 0 [4]   0 [3]  
Other Derivatives Liabilities [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value liabilities 37 7 34 7
Total gains/(losses) included in earnings, liabilities 0 9 3 9
Unrealized gains/(losses) included in OCI, liabilities 0 0 0 [3] 0
Purchases, liabilities 0 0 0 0
Issuances, liabilities 0 0 0 0
Settlements, liabilities 0 0 0 0
Sales, liabilities 0 0 0 0
Transfers into Level 3, liabilities 0 0 [2] 0 0 [2]
Transfers out of Level 3, liabilities 0 0 [2] 0 0 [2]
Ending balance, fair value liabilities 37 16 37 16
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities 0 9 3 9
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held 0 [4]   0 [3]  
Variable Interest Entity Notes [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held (3) [4]   (37) [3]  
Variable Interest Entity Notes [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value liabilities 281 397 347 366
Total gains/(losses) included in earnings, liabilities 16 9 (9) 50
Unrealized gains/(losses) included in OCI, liabilities (3) (1) (38) [3] (7)
Purchases, liabilities 0 0 0 0
Issuances, liabilities 0 0 0 4
Settlements, liabilities (3) (3) (9) (11)
Sales, liabilities 0 (60) 0 (60)
Transfers into Level 3, liabilities 0 0 [2] 0 0 [2]
Transfers out of Level 3, liabilities 0 0 [2] 0 0 [2]
Ending balance, fair value liabilities 291 342 291 342
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities 15 10 (12) 43
Currency Derivatives [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets 18 14 8 17
Total gains/(losses) included in earnings, assets (4) (3) 6 (6)
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets 0 0 0 0
Sales, assets 0 0 0 0
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 0 [2] 0 0 [2]
Ending balance, fair value assets 14 11 14 11
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets (4) (3) 6 (6)
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Other Assets [Member] | Variable Interest Entity Primary Beneficiary [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value assets 15 15 18 14
Total gains/(losses) included in earnings, assets (1) 0 (4) 1
Unrealized gains/(losses) included in OCI, assets 0 0 0 [1] 0
Purchases, assets 0 0 0 0
Issuances, assets 0 0 0 0
Settlements, assets 0 0 0 0
Sales, assets 0 0 0 0
Transfers into level 3, assets 0 0 [2] 0 0 [2]
Transfers out of level 3, assets 0 0 [2] 0 0 [2]
Ending balance, fair value assets 14 15 14 15
Change in unrealized gains/(losses) for the period included in earnings for assets still held, assets (1) 0 (4) 1
Change in unrealized gains/(losses) for the period included in OCI for Liabilities still held [1] 0   0  
Other Payable [Member]        
Accounts Notes And Loans Receivable [Line Items]        
Beginning balance, fair value liabilities   3 4 5
Total gains/(losses) included in earnings, liabilities   0 0 1
Unrealized gains/(losses) included in OCI, liabilities   0 0 [3] 0
Purchases, liabilities   0 0 0
Issuances, liabilities   0 0 0
Settlements, liabilities   0 (4) (3)
Sales, liabilities   0 0 0
Transfers into Level 3, liabilities   0 [2] 0 0 [2]
Transfers out of Level 3, liabilities   0 [2] 0 0 [2]
Ending balance, fair value liabilities $ 0 3 0 3
Change in unrealized gains/(losses) for the period included in earnings for liabilities still held, liabilities   $ 0 0 $ 1
Change in Unrealized (Gains)/ Losses for the Period Included in OCI for Liabilities still held [3]     $ 0  
[1] Reported within the “Unrealized gains (losses) on available-for-sale securities” on MBIA’s Consolidated Statement of Comprehensive Income/Loss.
[2] Transferred in and out at the end of the period.
[3] Reported within the “Instrument-specific credit risk of liabilities measured at fair value” on MBIA’s Consolidated Statement of Comprehensive Income/Loss.
[4] Reported within the “Instrument-specific credit risk of liabilities measured at fair value” on MBIA’s Consolidated Statement of Comprehensive Income/Loss