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Financial Guaranty Insurance Losses (BIG Transaction Loss Summary) (Details 5) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2012
risk
Dec. 31, 2011
risk
Present value of expected cash flows    
Less: net expected loss to be paid for FG VIEs $ 96  
Reserves (salvage)    
Effect of consolidating FG VIEs 153 196
Total 133 [1] 283 [1]
Financial guaranty
   
Reserves (salvage)    
Total 106 281
Financial guaranty | BIG 1
   
Number of risks    
Gross (in contracts) 153 [2] 171 [2]
Ceded (in contracts) (57) [2] (68) [2]
Remaining weighted average contract period    
Gross (in years) 11 years 10 years
Ceded (in years) 9 years 3 months 18 days 9 years 2 months 12 days
Principal    
Gross 8,533 9,675
Ceded (1,484) (1,378)
Interest    
Gross 4,357 4,309
Ceded (585) (486)
Total net outstanding exposure    
Gross 12,890 [3] 13,984 [3]
Ceded (2,069) [3] (1,864) [3]
Expected cash outflows (inflows)    
Gross 1,582 1,731
Ceded (677) (659)
Potential recoveries    
Gross (1,629) [4] (1,798) [4]
Ceded 653 [4] 664 [4]
Subtotal    
Gross (47) (67)
Ceded (24) 5
Discount    
Gross (1) 16
Ceded 9 (5)
Present value of expected cash flows    
Gross (48) (51)
Ceded (15) 0
Deferred premium revenue    
Gross 111 261
Ceded (24) (69)
Reserves (salvage)    
Gross (103) [5] (97) [5]
Ceded (4) [5] 7 [5]
Financial guaranty | BIG 2
   
Number of risks    
Gross (in contracts) 76 [2] 71 [2]
Ceded (in contracts) (22) [2] (26) [2]
Remaining weighted average contract period    
Gross (in years) 11 years 6 months 0 days 13 years 8 months 12 days
Ceded (in years) 15 years 3 months 18 days 20 years 6 months
Principal    
Gross 2,741 3,732
Ceded (135) (274)
Interest    
Gross 1,813 2,889
Ceded (131) (405)
Total net outstanding exposure    
Gross 4,554 [3] 6,621 [3]
Ceded (266) [3] (679) [3]
Expected cash outflows (inflows)    
Gross 863 1,833
Ceded (58) (121)
Potential recoveries    
Gross (509) [4] (1,079) [4]
Ceded 18 [4] 39 [4]
Subtotal    
Gross 354 754
Ceded (40) (82)
Discount    
Gross (107) (241)
Ceded 14 32
Present value of expected cash flows    
Gross 247 513
Ceded (26) (50)
Deferred premium revenue    
Gross 227 281
Ceded (15) (12)
Reserves (salvage)    
Gross 102 [5] 320 [5]
Ceded (18) [5] (42) [5]
Financial guaranty | BIG 3
   
Number of risks    
Gross (in contracts) 142 [2] 126 [2]
Ceded (in contracts) (51) [2] (48) [2]
Remaining weighted average contract period    
Gross (in years) 8 years 6 months 9 years 2 months 12 days
Ceded (in years) 5 years 9 months 18 days 6 years 4 months 24 days
Principal    
Gross 7,568 7,831
Ceded (540) (627)
Interest    
Gross 2,269 2,486
Ceded (137) (170)
Total net outstanding exposure    
Gross 9,837 [3] 10,317 [3]
Ceded (677) [3] (797) [3]
Expected cash outflows (inflows)    
Gross 3,052 2,423
Ceded (156) (133)
Potential recoveries    
Gross (2,639) [4] (2,041) [4]
Ceded 142 [4] 100 [4]
Subtotal    
Gross 413 382
Ceded (14) (33)
Discount    
Gross (202) (125)
Ceded 0 2
Present value of expected cash flows    
Gross 211 257
Ceded (14) (31)
Deferred premium revenue    
Gross 757 992
Ceded (90) (127)
Reserves (salvage)    
Gross (35) [5] (110) [5]
Ceded 11 [5] 7 [5]
Financial guaranty | Below investment grade (BIG)
   
Number of risks    
Total BIG, Net (in contracts) 371 [2] 368 [2]
Total (in contracts) 371 [2] 368 [2]
Remaining weighted average contract period    
Total BIG, Net (in years) 10 years 2 months 12 days 10 years 4 months 24 days
Total (in years) 10 years 2 months 12 days 10 years 4 months 24 days
Principal    
Total BIG, Net 16,683 18,959
Total 16,683 18,959
Interest    
Total BIG, Net 7,586 8,623
Total 7,586 8,623
Total net outstanding exposure    
Total BIG, Net 24,269 [3] 27,582 [3]
Total 24,269 [3] 27,582 [3]
Expected cash outflows (inflows)    
Total BIG, Net 4,606 5,074
Effect of Consolidating FG VIEs 738 (998)
Total 3,868 4,076
Potential recoveries    
Total BIG, Net 3,964 [4] (4,115) [4]
Effect of Consolidating FG VIEs 798 [4] 1,060 [4]
Total 3,166 [4] 3,055 [4]
Subtotal    
Total BIG, NET 642 959
Effect of Consolidating FG VIEs (60) (62)
Total 702 1,021
Discount    
Total BIG, Net (287) (321)
Effect of Consolidating FG VIEs 36 45
Schedule of Insured Financial Obligations with Credit Deterioration, Reductions of Gross Claim Liability, Net Discount (251) (276)
Present value of expected cash flows    
Net expected loss to be paid 355  
Less: net expected loss to be paid for FG VIEs 96 107
Total 451 745
Deferred premium revenue    
Total BIG, Net 966 1,326
Effect of Consolidating FG VIEs (251) (391)
Total 715 935
Reserves (salvage)    
Total BIG, Net (47) [5] 85 [5]
Effect of consolidating FG VIEs 153 [5] 196 [5]
Total $ 106 [5] $ 281 [5]
[1] (1) See “Components of Net Reserves (Salvage)” table for loss and LAE reserve and salvage and subrogation recoverable components.
[2] A risk represents the aggregate of the financial guaranty policies that share the same revenue source for purposes of making Debt Service payments. The ceded number of risks represents the number of risks for which the Company ceded a portion of its exposure.
[3] Includes BIG amounts related to FG VIEs.
[4] Includes estimated future recoveries for breaches of R&W as well as excess spread, and draws on HELOCs.
[5] See table “Components of net reserves (salvage).”