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Borrowings under Repurchase Agreements (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2015
USD ($)
counterparties
Dec. 31, 2014
USD ($)
counterparties
Reverse Repurchase Agreements [Line Items]    
Non Mark-to-Market Reverse Repurchase Agreement Facility $ 150,000  
Cancellation Notice Period Under Non-Mark-to-Market Financing Facility 6 months  
Number of Counterparties with Outstanding Reverse Repurchase Agreements | counterparties 17 16
Concentration Risk, Reverse Repurchase Agreements 30.00% 23.00%
Number Counterparties With Concentration Risk, Reverse Repurchase Agreements | counterparties 1 1
Forward Starting Reverse Repurchase Agreements $ 23,500 $ 50,100
Reverse repurchase agreements [1] 1,360,408 1,669,433
Investments held with dealers as collateral 1,560,000 1,930,000
Pledged Financial Instruments, Not Separately Reported, Securities For Repurchase Agreements Unsettled $ 34,700 $ 145,500
Minimum [Member]    
Reverse Repurchase Agreements [Line Items]    
Reverse Repurchase Agreements Maturity 30 days  
Reverse Repurchase Agreements Remaining Terms 6 days 2 days
Reverse Repurchase Agreements Interest Rate 0.00% (1.50%)
Maximum [Member]    
Reverse Repurchase Agreements [Line Items]    
Reverse Repurchase Agreements Maturity 180 days  
Reverse Repurchase Agreements Remaining Terms 450 days 631 days
Reverse Repurchase Agreements Interest Rate 2.54% 2.42%
Agency residential mortgage-backed securities [Member]    
Reverse Repurchase Agreements [Line Items]    
Reverse repurchase agreements $ 1,091,000 $ 1,146,000
Reverse Repurchase Agreements [Member]    
Reverse Repurchase Agreements [Line Items]    
Cash Collateral (Received) Pledged [2],[3] 38,393 14,245
Security Owned and Pledged as Collateral, Fair Value $ 17,000 $ 12,500
[1] In the Company's Consolidated Statement of Assets, Liabilities, and Equity, all balances associated with repurchase agreements, reverse repurchase agreements, and financial derivatives are presented on a gross basis.
[2] For the purpose of this presentation, for each row the total amount of financial instruments transferred or pledged and cash collateral (received) or pledged may not exceed the applicable gross amount of assets or (liabilities) as presented here. Therefore, the Company has reduced the amount of financial instruments transferred or pledged as collateral related to the Company's reverse repurchase agreements and cash collateral pledged on the Company's financial derivative liabilities. Total financial instruments transferred or pledged as collateral on the Company's reverse repurchase agreements as of June 30, 2015 and December 31, 2014 were $1.58 billion and $1.94 billion, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative assets excludes excess net cash collateral pledged of $30.5 million and $22.7 million, respectively. As of June 30, 2015 and December 31, 2014, total cash collateral on financial derivative liabilities excludes excess cash collateral pledged of $28.7 million and $23.2 million, respectively.
[3] When collateral is pledged to or pledged by a counterparty, it is often pledged or posted with respect to all positions with such counterparty, and in such cases such collateral cannot be specifically identified as relating to a specific asset or liability. As a result, in preparing the above tables, the Company has made assumptions in allocating pledged or posted collateral among the various rows.