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Disclosures About Offsetting Assets And Liabilities
 9 Months Ended
Sep. 30, 2013
Disclosures About Offsetting Assets And Liabilities [Abstract]  
Disclosures About Offsetting Assets And Liabilities

NOTE 17 – Disclosures About Offsetting Assets and Liabilities

The following table provides information about financial assets and derivative assets that are subject to offset as of September 30, 2013 and December 31, 2012 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross amounts not offset in the Statement of Financial Condition

 

 

 

 

Gross amounts of recognized assets

 

Gross amounts offset in the Statement of Financial Condition

 

Net amounts presented in the Statement of Financial Condition

 

Financial instruments

 

Collateral received

 

Net amount

As of September 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities borrowing (1)

$

331,784

 

$

 -

 

$

331,784

 

$

 -

 

$
(331,784)

 

$

 -

Reverse repurchase agreements (2)

 

168,182

 

 

 -

 

 

168,182

 

 

 -

 

 
(168,182)

 

 

 -

Cash flow interest rate contracts

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

$

499,966

 

$

 -

 

$

499,966

 

$

 -

 

$
(499,966)

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities borrowing (1)

$
153,819 

 

$

 -

 

$

153,819

 

$

 -

 

$
(153,819)

 

$

 -

Reverse repurchase agreements (2)

 
158,695 

 

 

 -

 

 

158,695

 

 

 -

 

 
(158,695)

 

 

 -

Cash flow interest rate contracts

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

$
312,514 

 

$

 -

 

$
312,514 

 

$

 -

 

$
(312,514)

 

$

 -

(1) Securities borrowing transactions are included in receivables from brokers, dealers, and clearing organizations on the consolidated statements of financial condition. See Note 5 in the notes to our consolidated financial statements for additional information on receivables from brokers, dealers, and clearing organizations.

(2) Collateral received includes securities received by our company from the counterparty. These securities are not included on the consolidated statements of financial condition unless there is an event of default.

 

 

The following table provides information about financial liabilities and derivative liabilities that are subject to offset as of September 30, 2013 and December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross amounts not offset in the Statement of Financial Condition

 

 

 

 

Gross amounts of recognized liabilities

 

Gross amounts offset in the Statement of Financial Condition

 

Net amounts presented in the Statement of Financial Condition

 

Financial instruments

 

Collateral pledged

 

Net amount

As of September 30, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities lending (3)

$

169,283

 

$

 -

 

$

169,283

 

$

 -

 

$

(169,283)

 

$

 -

Repurchase agreements (4)

 

255,451

 

 

 -

 

 

255,451

 

 

 -

 

 

(255,451)

 

 

 -

Cash flow interest rate contracts

 
11,101 

 

 

 -

 

 
11,101 

 

 

 -

 

 
(11,101)

 

 

 -

 

$

435,835

 

$

 -

 

$

435,835

 

$

 -

 

$

(435,835)

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities lending (3)

$
19,218 

 

$

 -

 

$

19,218

 

$

 -

 

$

(19,218)

 

$

 -

Repurchase agreements (4)

 
140,346 

 

 

 -

 

 

140,346

 

 

 -

 

 
(140,346)

 

 

 -

Cash flow interest rate contracts

 
19,934 

 

 

 -

 

 
19,934 

 

 

 -

 

 
(19,934)

 

 

 -

 

$
179,498 

 

$

 -

 

$
179,498 

 

$

 -

 

$

(179,498)

 

$

 -

(3) Securities lending transactions are included in payables to from brokers, dealers, and clearing organizations on the consolidated statements of financial condition. See Note 5 in the notes to our consolidated financial statements for additional information on payables to brokers, dealers, and clearing organizations.

(4) Collateral pledged includes the fair value of securities pledged by our company to the counter party. These securities are included on the consolidated statements of financial condition unless we default.