OFFSETTING OF ASSETS AND LIABILITIES

9 Months Ended

Sep. 30, 2013

OFFSETTING OF ASSETS AND LIABILITIES

11. OFFSETTING OF ASSETS AND LIABILITIES

The following tables present the offsetting of assets and liabilities as of September 30, 2013:

	Gross and Net Amounts of Assets Presented in the Statement of Financial Condition		Gross Amounts Not Offset in the Statement of Financial Condition
			Financial Instruments		Cash Collateral Received		Net Amount
Assets
Freestanding Derivatives	$	46,035	$	2,629	$	30,743	$	12,663
Reverse Repurchase Agreements		95,977		95,761		—		216
Total	$	142,012	$	98,390	$	30,743	$	12,879

	Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition		Gross Amounts Not Offset in the Statement of Financial Condition				Net Amount
			Financial Instruments		Cash Collateral Pledged
Liabilities
Freestanding Derivatives	$	10,605	$	2,629	$	7,976	$	—
Repurchase Agreements		68,505		68,449		—		56
Total	$	79,110	$	71,078	$	7,976	$	56

The following tables present the offsetting of assets and liabilities as of December 31, 2012:

	Gross and Net Amounts of Assets Presented in the Statement of Financial Condition		Gross Amounts Not Offset in the Statement of Financial Condition
			Financial Instruments		Cash Collateral Received		Net Amount
Assets
Freestanding Derivatives	$	55,344	$	3,983	$	36,748	$	14,613
Reverse Repurchase Agreements		248,018		248,018		—		—
Total	$	303,362	$	252,001	$	36,748	$	14,613

	Gross and Net Amounts of Liabilities Presented in the Statement of Financial Condition		Gross Amounts Not Offset in the Statement of Financial Condition
			Financial Instruments		Cash Collateral Pledged		Net Amount
Liabilities
Freestanding Derivatives	$	4,197	$	3,983	$	—	$	214
Repurchase Agreements		142,266		142,266		—		—
Total	$	146,463	$	146,249	$	—	$	214

Reverse Repurchase Agreements and Repurchase Agreements are presented separately on the Statements of Financial Condition. Freestanding Derivative assets are included in Other Assets in the Statements of Financial Condition. The following table presents the components of Other Assets:

	September 30, 2013		December 31, 2012
Furniture, Equipment and Leasehold Improvements, Net	$	138,433	$	142,390
Prepaid Expenses		50,933		81,498
Other Assets		76,994		97,140
Freestanding Derivatives		46,035		55,344
	$	312,395	$	376,372

Freestanding Derivative liabilities are included in Accounts Payable, Accrued Expenses and Other Liabilities in the Statements of Financial Condition and are not a significant component thereof.