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Financial Guaranty Insurance Losses - Financial Guaranty Insurance BIG Transaction Loss Summary (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 31, 2014
risk
Dec. 31, 2013
risk
Reserves (salvage)    
Effect of consolidating FG VIEs $ 73 $ 18
Total, Net 380 [1] 401 [1]
Financial guaranty insurance
   
Reserves (salvage)    
Total, Net 367 389
Financial guaranty insurance | BIG 1
   
Number of risks    
Gross (in contracts) 193 185
Ceded (in contracts) (74) (72)
Remaining weighted average contract period    
Gross (in years) 10 years 2 months 10 years 6 months
Ceded (in years) 7 years 10 months 8 days 8 years 1 month
Principal    
Gross 14,981 15,132
Ceded (2,739) (2,741)
Interest    
Gross 7,836 8,114
Ceded (1,107) (1,144)
Total net outstanding exposure    
Gross 22,817 23,246
Ceded (3,846) (3,885)
Expected cash outflows (inflows)    
Gross 1,901 1,853
Ceded (528) (528)
Potential recoveries    
Gross, Undiscounted R&W (174) [2] (105)
Ceded, Undiscounted R&W 10 [2] 1
Gross, Other (1,780) [2] (1,774) [2]
Ceded, Other 506 [2] 513 [2]
Gross 1,954 1,879
Ceded 516 514
Subtotal    
Gross (53) (26)
Ceded (12) (14)
Discount    
Gross 13 13
Ceded 1 0
Present value of expected cash flows    
Gross (40) (13)
Ceded (11) (14)
Deferred premium revenue    
Gross 521 517
Ceded (93) (90)
Reserves (salvage)    
Gross (137) (114)
Ceded 5 1
Financial guaranty insurance | BIG 2
   
Number of risks    
Gross (in contracts) 80 80
Ceded (in contracts) (23) (24)
Remaining weighted average contract period    
Gross (in years) 8 years 3 months 6 days 8 years 3 months
Ceded (in years) 5 years 7 months 5 years 11 months
Principal    
Gross 2,412 2,483
Ceded (159) (160)
Interest    
Gross 1,139 1,181
Ceded (52) (53)
Total net outstanding exposure    
Gross 3,551 3,664
Ceded (211) (213)
Expected cash outflows (inflows)    
Gross 727 1,038
Ceded (33) (40)
Potential recoveries    
Gross, Undiscounted R&W (108) [2] (201)
Ceded, Undiscounted R&W 4 [2] 8
Gross, Other (255) [2] (470) [2]
Ceded, Other 17 [2] 19 [2]
Gross 363 671
Ceded 21 27
Subtotal    
Gross 364 367
Ceded (12) (13)
Discount    
Gross (120) (126)
Ceded 3 3
Present value of expected cash flows    
Gross 244 241
Ceded (9) (10)
Deferred premium revenue    
Gross 148 163
Ceded (7) (7)
Reserves (salvage)    
Gross 133 117
Ceded (5) (4)
Financial guaranty insurance | BIG 3
   
Number of risks    
Gross (in contracts) 109 119
Ceded (in contracts) (32) (34)
Remaining weighted average contract period    
Gross (in years) 10 years 9 years 9 months
Ceded (in years) 8 years 6 months 7 years 2 months
Principal    
Gross 2,980 3,189
Ceded (108) (158)
Interest    
Gross 1,197 1,244
Ceded (40) (52)
Total net outstanding exposure    
Gross 4,177 4,433
Ceded (148) (210)
Expected cash outflows (inflows)    
Gross 1,695 1,681
Ceded (59) (62)
Potential recoveries    
Gross, Undiscounted R&W (374) [2] (356)
Ceded, Undiscounted R&W 14 [2] 13
Gross, Other (302) [2] (351) [2]
Ceded, Other 18 [2] 19 [2]
Gross 676 707
Ceded 32 32
Subtotal    
Gross 1,019 974
Ceded (27) (30)
Discount    
Gross (366) (352)
Ceded 6 5
Present value of expected cash flows    
Gross 653 622
Ceded (21) (25)
Deferred premium revenue    
Gross 262 303
Ceded (17) (27)
Reserves (salvage)    
Gross 458 420
Ceded (14) (13)
Financial guaranty insurance | Below investment grade (BIG)
   
Number of risks    
Total BIG, Net (in contracts) 382 384
Total (in contracts) 382 384
Remaining weighted average contract period    
Total BIG, Net (in years) 10 years 4 months 8 days 10 years 6 months
Total (in years) 10 years 4 months 8 days 10 years 6 months
Principal    
Total BIG, Net 17,367 17,745
Total 17,367 17,745
Interest    
Total BIG, Net 8,973 9,290
Total 8,973 9,290
Total net outstanding exposure    
Total BIG, Net 26,340 27,035
Total 26,340 27,035
Expected cash outflows (inflows)    
Total BIG, Net 3,703 3,942
Effect of Consolidating FG VIEs (358) (690)
Total 3,345 3,252
Potential recoveries    
Total BIG, Net, Undiscounted R&W (628) [2] (640)
Effect of Consolidating FG VIEs, Undiscounted R&W 15 [2] 72
Total, Undiscounted R&W 613 [2] 568
Total BIG, Other (1,796) [2] (2,044) [2]
Effect of Consolidating FG VIEs, Other 191 [2] 507 [2]
Total, Other (1,605) [2] (1,537) [2]
Total BIG, Net 2,424 2,684
Effect of Consolidating FG VIEs (206) (579)
Total (2,218) (2,105)
Subtotal    
Total BIG, NET 1,279 1,258
Effect of Consolidating FG VIEs (152) (111)
Total 1,127 1,147
Discount    
Total BIG, Net (463) (457)
Effect of Consolidating FG VIEs 44 51
Total (419) (406)
Present value of expected cash flows    
Net expected loss to be paid 816 801
Less: net expected loss to be paid for FG VIEs (108) (60)
Total 708 741
Deferred premium revenue    
Total BIG, Net 814 859
Effect of Consolidating FG VIEs (128) (178)
Total 686 681
Reserves (salvage)    
Total BIG, Net 440 407
Effect of consolidating FG VIEs (73) (18)
Total, Net $ 367 $ 389
[1] (1)See “Components of Net Reserves (Salvage)” table for loss and LAE reserve and salvage and subrogation recoverable components.
[2] Includes excess spread and draws on HELOCs.