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Financial Guaranty Insurance Premiums (Tables)
 3 Months Ended
Mar. 31, 2013
Financial Guaranty Insurance Premiums [Abstract]  
Financial Guaranty Insurance Contracts, Net Earned Premiums [Table Text Block]
Net Earned Premiums
 
 
First Quarter
 
2013
 
2012
 
(in millions)
Scheduled net earned premiums
$
128

 
$
152

Acceleration of premium earnings
113

 
37

Accretion of discount on net premiums receivable
7

 
5

  Total financial guaranty insurance
248

 
194

Other
0

 
0

  Total net earned premiums(1)
$
248

 
$
194

 ___________________
(1)
Excludes $18 million and $17 million for First Quarter 2013 and 2012, respectively, related to consolidated FG VIEs.
Financial Guaranty Insurance Contracts, Net Unearned Premium Reserve [Table Text Block]
Components of Unearned Premium Reserve
 
 
As of March 31, 2013
 
As of December 31, 2012
 
Gross
 
Ceded
 
Net(1)
 
Gross
 
Ceded
 
Net(1)
 
(in millions)
Deferred premium revenue:
 
 
 
 
 
 
 
 
 
 
 
   Financial guaranty
$
5,090

 
$
558

 
$
4,532

 
$
5,349

 
$
586

 
$
4,763

   Other
7

 
—

 
7

 
7

 
—

 
7

Total deferred premium revenue
$
5,097

 
$
558

 
$
4,539

 
$
5,356

 
$
586

 
$
4,770

Contra-paid
(115
)
 
(23
)
 
(92
)
 
(149
)
 
(25
)
 
(124
)
Total
$
4,982

 
$
535

 
$
4,447

 
$
5,207

 
$
561

 
$
4,646

 ____________________
(1)
Excludes $244 million and $262 million of deferred premium revenue, and $72 million and $98 million of contra-paid related to FG VIEs as of March 31, 2013 and December 31, 2012, respectively.
Deferred Premium Revenue Roll Forward [Text Block]
Net Deferred Premium Revenue Roll Forward

 
First Quarter
 
2013
 
2012
 
(in millions)
Balance beginning of period
$
4,770

 
$
5,327

Premium written, net
14

 
13

Net premium earned, excluding accretion
(241
)
 
(189
)
Commutations and changes in expected premiums
1

 
130

Foreign exchange translation
(4
)
 
3

Consolidation of FG VIEs
(1
)
 
(5
)
Balance, end of period
$
4,539

 
$
5,279
Financial Guaranty Insurance Contracts, Premium Receivable Activity [Table Text Block]
Gross Premium Receivable, Net of Ceding Commissions Roll Forward
 
 
First Quarter
 
2013
 
2012
 
(in millions)
Balance beginning of period
$
1,005

 
$
1,003

Premium written, net of ceding commissions
17

 
56

Premium payments received, net of ceding commissions
(53
)
 
(86
)
Adjustments:
 
 
 
Changes in the expected term of financial guaranty insurance contracts
1

 
33

Accretion of discount, net of ceding commissions
9

 
6

Foreign exchange translation
(23
)
 
12

Consolidation of FG VIEs
0

 
(5
)
Balance, end of period (1)
$
956

 
$
1,019

____________________
(1)
Excludes $28 million and $33 million as of March 31, 2013 and March 31, 2012, respectively, related to consolidated FG VIEs.
Financial Guaranty Insurance Contracts, Premium Receivable Premium Expected to be Collected [Table Text Block]
Expected Collections of Gross Premiums Receivable,
Net of Ceding Commissions (Undiscounted)

 
March 31, 2013
 
(in millions)
2013 (April 1 – June 30)
$
53

2013 (July 1 – September 30)
26

2013 (October 1 – December 31)
29

2014
105

2015
93

2016
87

2017
80

2018-2022
315

2023-2027
197

2028-2032
135

After 2032
154

Total(1)
$
1,274

 ____________________
(1)
Excludes expected cash collections on FG VIEs of $35 million.
Schedule of Net Earned Premiums Financial Guaranty Contracts [Table Text Block]
Scheduled Net Earned Premiums
Financial Guaranty Insurance Contracts
 
 
As of March 31, 2013
 
(in millions)
2013 (April 1 - June 30)
$
121

2013 (July 1 - September 30)
118

2013 (October 1–December 31)
112

Subtotal 2013
351

2014
422

2015
371

2016
338

2017
303

2018 - 2022
1,164

2023 - 2027
732

2028 - 2032
437

After 2032
414

Total present value basis(1)
4,532

Discount
250

Total future value
$
4,782

 ____________________
(1)
Excludes scheduled net earned premiums on consolidated FG VIEs of $244 million.
Financial Guaranty Insurance Contracts, Policies Paid in Installments [Table Text Block]
Selected Information for Policies Paid in Installments

 
As of
March 31, 2013
 
As of
December 31, 2012
 
(dollars in millions)
Premiums receivable, net of ceding commission payable
$
956

 
$
1,005

Gross deferred premium revenue
1,788

 
1,908

Weighted-average risk-free rate used to discount premiums
3.6
%
 
3.5
%
Weighted-average period of premiums receivable (in years)
9.5

 
9.6