Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Offsetting [Abstract]

Schedule of information about certain assets that are subject to master netting arrangements (or similar agreements)

The following tables present information about certain assets and liabilities that are subject to master netting arrangements (or similar agreements) and can potentially be offset on the Company’s consolidated balance sheets at September 30, 2014 and December 31, 2013:

Offsetting of Financial Assets and Derivative Assets

	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in  the Consolidated Balance Sheets					Net Amount
(In Thousands)							Financial Instruments			Cash  Collateral  Received
September 30, 2014
Swaps, at fair value	$	4,322	$	—	$	4,322	$	(4,322	)	$	—	$	—
Total	$	4,322	$	—	$	4,322	$	(4,322	)	$	—	$	—
December 31, 2013
Swaps, at fair value	$	13,000	$	—	$	13,000	$	(13,000	)	$	—	$	—
Total	$	13,000	$	—	$	13,000	$	(13,000	)	$	—	$	—

Schedule of information about certain liabilities that are subject to master netting arrangements (or similar agreements)

Offsetting of Financial Liabilities and Derivative Liabilities

	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the  Consolidated Balance Sheets						Net Amount
(In Thousands)							Financial  Instruments (1)			Cash  Collateral  Pledged (1)
September 30, 2014
Swaps, at fair value (2)	$	35,493	$	—	$	35,493	$	(142	)	$	(35,351	)	$	—
Repurchase agreements (3)	8,125,723		—		8,125,723		(8,117,323		)	(8,400		)	—
Total	$	8,161,216	$	—	$	8,161,216	$	(8,117,465	)	$	(43,751	)	$	—
December 31, 2013
Swaps, at fair value (2)	$	28,217	$	—	$	28,217	$	—		$	(28,217	)	$	—
Repurchase agreements (3)	8,339,297		—		8,339,297		(8,339,297		)	—			—
Total	$	8,367,514	$	—	$	8,367,514	$	(8,339,297	)	$	(28,217	)	$	—

(1) Amounts disclosed in the Financial Instruments column of the table above represents collateral pledged that is available to be offset against liability balances associated with repurchase agreement and derivative transactions.  Amounts disclosed in the Cash Collateral Pledged column of the table above represents amounts pledged as collateral against derivative transactions and repurchase agreements, and excludes excess collateral of $9.3 million at December 31, 2013.

(2) The fair value of securities pledged against the Company’s Swaps was $67.4 million and $73.9 million at September 30, 2014 and December 31, 2013, respectively.

(3) The fair value of securities pledged against the Company’s repurchase agreements was $9.595 billion and $10.116 billion at September 30, 2014 and December 31, 2013, respectively.