SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



       Date of Report (Date of earliest event reported): October 26, 2006


                                    MBIA INC.
             (Exact name of registrant as specified in its charter)


          Connecticut                  1-9583                     06-1185706
(State or other jurisdiction        (Commission                 (IRS Employer
      of incorporation)             File Number)             Identification No.)


                     113 King Street,
                     Armonk, New York                    10504
         (Address of principal executive offices)     (Zip Code)


               Registrant's telephone number, including area code:
                                  914-273-4545


                                 Not Applicable
          (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))

--------------------------------------------------------------------------------



Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

The following information, including the Exhibit to this Form 8-K, is being
furnished pursuant to Item 2.02 - Results of Operations and Financial Condition
of Form 8-K.

On October 26, 2006, MBIA Inc. issued a press release announcing its results of
operations for the quarter ended September 30, 2006. A copy of the press release
is attached as Exhibit 99.1 to this Form 8-K and is incorporated by reference to
this Item 2.02 as if fully set forth herein.


Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

99.1    Press Release issued by MBIA Inc. dated October 26, 2006.

This information is not deemed to be "filed" for the purposes of Section 18 of
the Securities Exchange Act of 1934 and is not incorporated by reference into
any Securities Act registration statements.









                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                      MBIA INC.



                                                      By: /s/ Ram D. Wertheim
                                                          ----------------------
                                                          Ram D. Wertheim
                                                          General Counsel

Date: October 26, 2006








                   EXHIBIT INDEX TO CURRENT REPORT ON FORM 8-K
                             Dated October 26, 2006




Exhibit 99.1    Press Release issued by MBIA Inc. dated October 26, 2006.