MBIA Inc., the bond insurer that was shut out of the business of backing municipal debt because of soured bets on home loans and commercial-mortgage securities, said it agreed to terminate $10.6 billion of trades since the end of September.

The wagers, largely tied to commercial real estate, brings to $23 billion the amount of guarantees on collateralized-debt obligations that the company has ended this year, the Armonk, New York-based insurer said in a statement Wednesday. Of that sum, MBIA terminated $8.5 billion in the third quarter, it said.

The company didn’t disclose the cost to end the trades. The amounts paid or expected to be paid “continue to be consistent with our loss reserves,” Chief Financial Officer Chuck Chaplin said in the statement. Kevin Brown, a spokesman for MBIA, declined to comment further.

The cost to protect against a default by the MBIA unit that sold the guarantees fell.

Credit-default swaps on MBIA Insurance Corp. declined 2 percentage points following the statement to a mid-price of 42 percent upfront as of 4:39 p.m. in New York, according to broker Phoenix Partners Group. That means it would cost $4.2 million initially and $500,000 annually to protect $10 million of obligations for five years.