Securities Purchased /Sold Under Agreements To Resell/Repurchase

12 Months Ended

Jun. 30, 2014

Securities Purchased /Sold Under Agreements To Resell/Repurchase [Abstract]

Securities Purchased /Sold under Agreements to Resell/Repurchase

8.SECURITIES PURCHASED/SOLD UNDER AGREEMENTS TO RESELL/REPURCHASE

At June  30, 2014 and 2013, SWS held reverse repurchase agreements collateralized by U.S. government and government agency obligations and securities sold under repurchase agreements.  These securities are reported on a gross basis in the Consolidated Statements of Financial Condition. 

Securities sold under repurchase agreements, which are secured borrowings, generally mature within one to four days from the transaction date.  Securities sold under repurchase agreements are reflected at the amount of cash received in connection with the transactions.  The Company may be required to provide additional collateral based on the fair value of the underlying securities.  The Company monitors the fair value of the underlying securities on a daily basis. Interest on these amounts is accrued and is included in the Consolidated Statements of Financial Condition in other liabilities.

The following table provides information about these instruments and any related collateral amounts at June 30, 2014 and 2013 (in thousands): 

June 30, 2014
				Gross amounts not offset in the statement of financial position
Description	Gross amounts of recognized assets/ liabilities	Gross amounts offset in the statement of financial position	Net amounts of assets presented in the statement of financial position	Financial instruments	Cash collateral	Net amount
Reverse
Repurchase
Agreements	$                  72,582	$                              -	$                       72,582	$         (72,346)	$                -	$            236
Repurchase
Agreements	39,343	-	39,343	(39,343)	-	-

June 30, 2013
				Gross amounts not offset in the statement of financial position
Description	Gross amounts of recognized assets/ liabilities	Gross amounts offset in the statement of financial position	Net amounts of assets presented in the statement of financial position	Financial instruments	Cash collateral	Net amount
Reverse
Repurchase
Agreements	$                  51,996	$                              -	$                       51,996	$         (51,808)	$                -	$            188
Repurchase
Agreements	37,012	-	37,012	(37,012)	-	-