XML 44 R31.htm IDEA: XBRL DOCUMENT v3.7.0.1
Collateralized Transactions (Tables)
 6 Months Ended
May 31, 2017
Banking and Thrift [Abstract]  
Schedule of Collateralized Financing Transactions
The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by class of collateral pledged (in thousands):
 
May 31, 2017
 
Securities Lending Arrangements
 
Repurchase Agreements
 
Total
Collateral Pledged:
 
 
 
 
 
Corporate equity securities
$
2,862,228

 
$
217,080

 
$
3,079,308

Corporate debt securities
572,028

 
2,135,355

 
2,707,383

Mortgage- and asset-backed securities
—

 
2,612,660

 
2,612,660

U.S. government and federal agency securities
12,597

 
9,315,643

 
9,328,240

Municipal securities
—

 
398,605

 
398,605

Sovereign obligations
—

 
2,032,359

 
2,032,359

Loans and other receivables
—

 
605,630

 
605,630

Total
$
3,446,853

 
$
17,317,332

 
$
20,764,185

 
November 30, 2016
 
Securities Lending Arrangements
 
Repurchase Agreements
 
Total
Collateral Pledged:
 
 
 
 
 
Corporate equity securities
$
2,046,243

 
$
66,291

 
$
2,112,534

Corporate debt securities
731,276

 
1,907,888

 
2,639,164

Mortgage- and asset-backed securities
—

 
2,171,480

 
2,171,480

U.S. government and federal agency securities
41,613

 
9,232,624

 
9,274,237

Municipal securities
—

 
553,010

 
553,010

Sovereign obligations
—

 
2,625,079

 
2,625,079

Loans and other receivables
—

 
455,960

 
455,960

Total
$
2,819,132

 
$
17,012,332

 
$
19,831,464

The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by remaining contractual maturity (in thousands):
 
May 31, 2017
 
Overnight and Continuous
 
Up to 30 Days
 
31-90 Days
 
Greater than 90 Days
 
Total
Securities lending arrangements
$
2,247,140

 
$
37,112

 
$
693,014

 
$
469,587

 
$
3,446,853

Repurchase agreements
9,215,374

 
3,994,002

 
2,666,364

 
1,441,592

 
17,317,332

Total
$
11,462,514

 
$
4,031,114

 
$
3,359,378

 
$
1,911,179

 
$
20,764,185

 
November 30, 2016
 
Overnight and Continuous
 
Up to 30 Days
 
31-90 Days
 
Greater than 90 Days
 
Total
Securities lending arrangements
$
2,131,891

 
$
39,673

 
$
104,516

 
$
543,052

 
$
2,819,132

Repurchase agreements
9,147,176

 
2,008,119

 
3,809,533

 
2,047,504

 
17,012,332

Total
$
11,279,067

 
$
2,047,792

 
$
3,914,049

 
$
2,590,556

 
$
19,831,464
Summary of Repurchase Agreements and Securities Borrowing and Lending Arrangements
The following tables provide information regarding repurchase agreements and securities borrowing and lending arrangements that are recognized in our Consolidated Statements of Financial Condition and 1) the extent to which, under enforceable master netting arrangements, such balances are presented net in our Consolidated Statements of Financial Condition as appropriate under U.S. GAAP and 2) the extent to which other rights of setoff associated with these arrangements exist and could have an effect on our financial position (in thousands).
 
May 31, 2017
 
Gross Amounts
 
Netting in Consolidated Statement of Financial Condition
 
Net Amounts in Consolidated Statement of Financial Condition
 
Additional Amounts Available for Setoff (1)
 
Available Collateral (2)
 
Net Amount (3)
Assets:
 
 
 
 
 
 
 
 
 
 
 
Securities borrowing arrangements
$
7,900,395

 
$
—

 
$
7,900,395

 
$
(765,075
)
 
$
(1,291,875
)
 
$
5,843,445

Reverse repurchase agreements
13,041,366

 
(8,695,905
)
 
4,345,461

 
(587,698
)
 
(3,698,540
)
 
59,223

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
3,446,853

 
$
—

 
$
3,446,853

 
$
(765,075
)
 
$
(2,622,311
)
 
$
59,467

Repurchase agreements
17,317,332

 
(8,695,905
)
 
8,621,427

 
(587,698
)
 
(6,617,668
)
 
1,416,061

 
November 30, 2016
 
Gross Amounts
 
Netting in Consolidated Statement of Financial Condition
 
Net Amounts in Consolidated Statement of Financial Condition
 
Additional Amounts Available for Setoff (1)
 
Available Collateral (2)
 
Net Amount (4)
Assets:
 
 
 
 
 
 
 
 
 
 
 
Securities borrowing arrangements
$
7,743,562

 
$
—

 
$
7,743,562

 
$
(710,611
)
 
$
(647,290
)
 
$
6,385,661

Reverse repurchase agreements
14,083,144

 
(10,220,656
)
 
3,862,488

 
(176,275
)
 
(3,591,654
)
 
94,559

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
2,819,132

 
$
—

 
$
2,819,132

 
$
(710,611
)
 
$
(2,064,299
)
 
$
44,222

Repurchase agreements
17,012,332

 
(10,220,656
)
 
6,791,676

 
(176,275
)
 
(5,780,909
)
 
834,492

(1)
Under master netting agreements with our counterparties, we have the legal right of offset with a counterparty, which incorporates all of the counterparty’s outstanding rights and obligations under the arrangement. These balances reflect additional credit risk mitigation that is available by counterparty in the event of a counterparty’s default, but which are not netted in the balance sheet because other netting provisions of U.S. GAAP are not met.
(2)
Includes securities received or paid under collateral arrangements with counterparties that could be liquidated in the event of a counterparty default and thus offset against a counterparty’s rights and obligations under the respective repurchase agreements or securities borrowing or lending arrangements.
(3)
Amounts include $5,793.7 million of securities borrowing arrangements, for which we have received securities collateral of $5,620.1 million, and $1,396.9 million of repurchase agreements, for which we have pledged securities collateral of $1,438.0 million, which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.
(4)
Amounts include $6,337.5 million of securities borrowing arrangements, for which we have received securities collateral of $6,146.0 million, and $810.4 million of repurchase agreements, for which we have pledged securities collateral of $834.2 million, which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.