Credit Risk and Interest Rate Risk (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Offsetting Assets and Liabilities

The following table presents information about our assets and liabilities that are subject to such arrangements and can potentially be offset on our consolidated statements of financial condition as of September 30, 2024 and December 31, 2023.


	September 30, 2024
	(dollars in thousands)
	Gross Amounts of Recognized Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(3,228,748)	$	—	$	(3,228,748)	$	4,553,156	$	13,449	$	1,337,857
Interest Rate Swaps - Gross Assets	5,960		(5,960)		—		—		—		—


Interest Rate Swaps - Gross Liabilities	—		—		—		—		(4,779)		(4,779)
Treasury Futures - Gross Liabilities	—		—		—		—		—		—
Swaptions - Gross Assets	1,027		(930)		97		—		—		97


Total	$	(3,221,761)	$	(6,890)	$	(3,228,651)	$	4,553,156	$	8,670	$	1,333,175

(1) Included in other assets


	December 31, 2023
	(dollars in thousands)
	Gross Amounts of Recognized Assets (Liabilities)		Gross Amounts Offset in the Consolidated Statements of Financial Position		Net Amounts Offset in the Consolidated Statements of Financial Position		Gross Amounts Not Offset with Financial Assets (Liabilities) in the Consolidated Statements of Financial Position
							Financial Instruments		Cash Collateral (Received) Pledged (1)		Net Amount
Secured financing agreements	$	(2,432,115)	$	—	$	(2,432,115)	$	3,539,416	$	22,930	$	1,130,231
Interest Rate Swaps - Gross Assets	7,455		(7,455)		—		—		(11,306)		(11,306)



Swaptions - Gross Assets	11,362		(11,362)		—		—		(58)		(58)


Total	$	(2,413,298)	$	(18,817)	$	(2,432,115)	$	3,539,416	$	11,566	$	1,118,867

(1) Included in other assets