SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

McLoughlin Thomas G

(Last)

(First)

(Middle)

C/O MBIA

113 KING STREET

(Street)

ARMONK

10504

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/04/2005

3. Issuer Name and Ticker or Trading Symbol
MBIA INC [ MBI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Member, Exec. Policy Committee

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	750⁽¹⁾	D
Common Stock	2,060.92⁽²⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Options (right to buy)	12/04/2001	12/04/2006	Common Stock	1,020	$33.959	D
Employee Stock Options (right to buy)	12/11/2002	12/11/2007	Common Stock	1,020	$42.792	D
Employee Stock Options (right to buy)	12/09/2003	12/09/2008	Common Stock	2,970	$42.5	D
Employee Stock Options (right to buy)	12/09/2004	12/09/2009	Common Stock	5,505	$32.542	D
Employee Stock Options (right to buy)	⁽³⁾	12/12/2010	Common Stock	4,140	$48.583	D
Employee Stock Options (right to buy)	12/12/2005	12/12/2010	Common Stock	7,500	$48.583	D
Employee Stock Options (right to buy)	07/31/2006	07/31/2011	Common Stock	10,000	$56.16	D
Employee Stock Options (right to buy)	⁽⁴⁾	02/07/2012	Common Stock	4,000	$52.81	D
Employee Stock Options (right to buy)	10/07/2007	10/07/2012	Common Stock	5,000	$36.72	D
Employee Stock Option (right to buy)	⁽⁵⁾	02/12/2013	Common Stock	3,500	$36.69	D
Employee Stock Options (right to buy)	⁽⁶⁾	02/10/2014	Common Stock	4,000	$64.84	D

Explanation of Responses:

1. Restricted Stock granted under 16(b)-3 exemption. Vests on 2/10/08 (fourth anniversary of date of grant).

2. Reporting Person's share balance in the MBIA Employees' 401(k) Plan.

3. Vests 40% on second anniversary of date of grant and 20% on each anniversary thereafter. Date of grant is 12/12/2000.

4. Vests 40% on second anniversary of date of grant and 20% on each anniversary thereafter. Date of grant is 2/07/2002.

5. Vests 40% on second anniversary of date of grant and 20% on each anniversary thereafter. Date of grant is 2/12/2003.

6. Vests 25% annually beginning on the first anniversary of the date of grant. Date of grant is 2/10/2004.

	/s/Leonard I. Chubinsky, Attorney-in-Fact	02/14/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.