SECURED BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Repurchase Agreements [Abstract]

Schedule of Secured Borrowings

Secured borrowings (and related pledged collateral, including accrued interest receivable), classified by collateral type and remaining maturities, and related weighted average borrowing rates as of the indicated dates were as follows (dollars in thousands):

Collateral Type	Agency Securities Pledged		Accrued Interest Receivable		Borrowings Outstanding		Average Borrowing Rates
September 30, 2020
Borrowings under repurchase arrangements    with maturities of 30 days or less	$	6,065,774	$	15,052	$	5,743,751		0.23	%
Borrowings under repurchase arrangements     with maturities of 31 to 90 days		1,469,324		3,733		1,400,246		0.23
Borrowings under repurchase arrangements     with maturities of greater than 90 days		521,844		1,176		500,000		0.29
Similar borrowings secured by    collateral for structured financings		833	–			833		7.94
	$	8,057,775	$	19,961	$	7,644,830		0.24
December 31, 2019
Borrowings under repurchase arrangements    with maturities of 30 days or less	$	9,484,275	$	27,826	$	9,002,527		2.12	%
Borrowings under repurchase arrangements     with maturities of 31 to 90 days		1,344,437		3,742		1,271,971		1.98
Similar borrowings secured by    collateral for structured financings		915	–			915		7.99
	$	10,829,627	$	31,568	$	10,275,413		2.10