Securities purchased under agreements to resell

12 Months Ended

Dec. 31, 2016

Disclosure Text Block

Securities Purchased Under Agreements To Resell

Note 7- Securities purchased under agreements to resell

The securities purchased underlying the agreements to resell were delivered to, and are held by, the Corporation. The counterparties to such agreements maintain effective control over such securities. The Corporation is permitted by contract to repledge the securities, and has agreed to resell to the counterparties the same or substantially similar securities at the maturity of the agreements.

The fair value of the collateral securities held by the Corporation on these transactions at December 31, was as follows:

(In thousands)		2016		2015
Not repledged	$	27,388	$	111,545
Total	$	27,388	$	111,545

The repledged securities were used as underlying securities for repurchase agreement transactions.