SECURED FINANCING (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of Repurchase Agreements Remaining Maturity and Weighted Average Rates

At March 31, 2014 and December 31, 2013, the repurchase agreements had the following remaining maturities and weighted average rates:

	March 31, 2014					December 31, 2013
	Repurchase Agreements		Weighted Average Rate			Repurchase Agreements		Weighted Average Rate
	(dollars in thousands)
1 day	$	6,065,530		0.29	%	$	-		0.00	%
2 to 29 days		12,308,123		0.34	%		21,171,574		0.36	%
30 to 59 days		17,122,926		0.43	%		13,373,921		0.43	%
60 to 89 days		3,842,791		0.42	%		3,592,266		0.44	%
90 to 119 days		6,941,938		0.55	%		4,010,334		0.52	%
Over 120 days(1)		18,262,641		1.26	%		19,632,906		1.29	%
Total	$	64,543,949		0.65	%	$	61,781,001		0.68	%

Summary of Gross Amounts, Amounts Offset and net Amounts of Repurchase Agreement and Reverse Repurchase Agreement

The following table summarizes the gross amounts of reverse repurchase agreements and repurchase agreements, amounts offset in accordance with netting arrangements and net amounts of repurchase agreements and reverse repurchase agreements as presented in the Consolidated Statements of Financial Condition as of March 31, 2014 and December 31, 2013.

	March 31, 2014						December 31, 2013
	Reverse Repurchase Agreements			Repurchase Agreements			Reverse Repurchase Agreements			Repurchase Agreements
	(dollars in thousands)
Gross Amounts	$	1,766,563		$	65,866,137		$	2,524,980		$	64,205,981
Amounts Offset		(1,322,188	)		(1,322,188	)		(2,424,980	)		(2,424,980	)
Netted Amounts	$	444,375		$	64,543,949		$	100,000		$	61,781,001