SECURED FINANCING (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Repurchase Agreements Remaining Maturity and Weighted Average Rates

At March 31, 2015 and December 31, 2014, the repurchase agreements had the following remaining maturities and weighted average rates:

	March 31, 2015					December 31, 2014
	Repurchase Agreements		Weighted Average Rate			Repurchase Agreements		Weighted Average Rate
1 day	$	7,658,440		0.64	%	$	-		0.00	%
2 to 29 days		16,080,033		0.39	%		28,354,167		0.35	%
30 to 59 days		7,326,177		0.40	%		17,336,469		0.43	%
60 to 89 days		9,534,614		0.40	%		4,040,677		0.38	%
90 to 119 days		4,677,222		0.50	%		2,945,495		0.50	%
Over 120 days(1)		15,200,892		1.45	%		18,685,118		1.24	%
Total	$	60,477,378		0.70	%	$	71,361,926		0.61	%
(1) Approximately 18% and 16% of the total repurchase agreements had a remaining maturity over 1 year as of March 31, 2015 and December 31, 2014, respectively.

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, 2015 and December 31, 2014.

	March 31, 2015						December 31, 2014
	Reverse Repurchase Agreements			Repurchase Agreements			Reverse Repurchase Agreements			Repurchase Agreements
	(dollars in thousands)
Gross Amounts	$	1,700,000		$	62,077,378		$	700,000		$	71,961,926
Amounts Offset		(1,600,000	)		(1,600,000	)		(600,000	)		(600,000	)
Netted Amounts	$	100,000		$	60,477,378		$	100,000		$	71,361,926