This excerpt taken from the C 10-Q filed Oct 31, 2008.
State and Municipal Debt Securities
The increase in gross unrealized losses on state and municipal debt securities during the quarter ended September 30, 2008 was a result of market disruption late in the quarter causing reduced liquidity and an increase in short-term yields. The Company continues to believe that receipt of all principal and interest on these securities is probable.
For further disclosures regarding available-for-sale investments, see footnote 10 on 100.