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Balance Sheet Offsetting
9 Months Ended
Sep. 30, 2014
Balance Sheet Offsetting  
Balance Sheet Offsetting

16. Balance Sheet Offsetting

 

Certain financial instruments, including resale and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheets and/or subject to master netting arrangements or similar agreements. The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands).

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in

 

 

 

 

 

 

 

 

 

Net Amounts

 

the Balance Sheet

 

 

 

 

 

Gross Amounts

 

Gross Amounts

 

of Assets

 

 

 

Cash

 

 

 

 

 

of Recognized

 

Offset in the

 

Presented in the

 

Financial

 

Collateral

 

Net

 

 

 

Assets

 

Balance Sheet

 

Balance Sheet

 

Instruments

 

Pledged

 

Amount

 

September 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities borrowed:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

$

210,590

 

$

 

$

210,590

 

$

(210,590

)

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps and swaptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

409

 

 

409

 

 

 

409

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward MBS derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

9

 

 

9

 

 

 

9

 

 

 

$

211,008

 

$

 

$

211,008

 

$

(210,590

)

$

 

$

418

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities borrowed:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

$

107,365

 

$

 

$

107,365

 

$

(107,365

)

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward MBS derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

11,489

 

(76

)

11,413

 

 

(286

)

11,127

 

 

 

$

118,854

 

$

(76

)

$

118,778

 

$

(107,365

)

$

(286

)

$

11,127

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts Not Offset in

 

 

 

 

 

 

 

 

 

Net Amounts

 

the Balance Sheet

 

 

 

 

 

Gross Amounts

 

Gross Amounts

 

of Liabilities

 

 

 

Cash

 

 

 

 

 

of Recognized

 

Offset in the

 

Presented in the

 

Financial

 

Collateral

 

Net

 

 

 

Liabities

 

Balance Sheet

 

Balance Sheet

 

Instruments

 

Pledged

 

Amount

 

September 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities loaned:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

$

157,212

 

$

 

$

157,212

 

$

(157,212

)

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase agreements:

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer counterparties

 

134,134

 

 

134,134

 

(134,134

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward MBS derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

4,163

 

(446

)

3,717

 

 

(1,749

)

1,968

 

 

 

$

295,509

 

$

(446

)

$

295,063

 

$

(291,346

)

$

(1,749

)

$

1,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities loaned:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

$

74,913

 

$

 

$

74,913

 

$

(74,913

)

$

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Repurchase agreements:

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer counterparties

 

107,462

 

 

107,462

 

(107,462

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forward MBS derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional counterparties

 

30

 

 

30

 

 

(17

)

13

 

 

 

$

182,405

 

$

 

$

182,405

 

$

(182,375

)

$

(17

)

$

13