Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Significant Accounting Policies Offsetting Assets and Liabilities (Tables)

v2.4.0.8
Basis of Presentation and Significant Accounting Policies Offsetting Assets and Liabilities (Tables)
6 Months Ended
Jun. 30, 2014
Offsetting [Abstract]  
Offsetting Assets and Liabilities [Table Text Block]
The following tables present information about the Company’s assets and liabilities that are subject to master netting arrangements or similar agreements and can potentially be offset on the Company’s condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013:
 
June 30, 2014
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Condensed Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
371,007

 
$
(39,406
)
 
$
331,601

 
$
(17,097
)
 
$

 
$
314,504

Total Assets
$
371,007

 
$
(39,406
)
 
$
331,601

 
$
(17,097
)
 
$

 
$
314,504

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(11,391,187
)
 
$

 
$
(11,391,187
)
 
$
11,391,187

 
$

 
$

Federal Home Loan Bank advances
(1,500,000
)
 

 
(1,500,000
)
 
1,500,000

 

 

Derivative liabilities
(56,503
)
 
39,406

 
(17,097
)
 
17,097

 

 

Total Liabilities
$
(12,947,690
)
 
$
39,406

 
$
(12,908,284
)
 
$
12,908,284

 
$

 
$

 
December 31, 2013
 
 
 
 
 
 
 
Gross Amounts Not Offset with Financial Assets (Liabilities) in the Condensed Consolidated Balance Sheets (1)
 
 
(in thousands)
Gross Amounts of Recognized Assets (Liabilities)
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amounts of Assets (Liabilities) Presented in the Condensed Consolidated Balance Sheets
 
Financial Instruments
 
Cash Collateral (Received) Pledged
 
Net Amount
Assets
 
 
 
 
 
 
 
 
 
 
 
Derivative assets
$
572,050

 
$
(22,191
)
 
$
549,859

 
$
(22,081
)
 
$

 
$
527,778

Total Assets
$
572,050

 
$
(22,191
)
 
$
549,859

 
$
(22,081
)
 
$

 
$
527,778

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Repurchase agreements
$
(12,250,450
)
 
$

 
$
(12,250,450
)
 
$
12,250,450

 
$

 
$

Derivative liabilities
(44,272
)
 
22,191

 
(22,081
)
 
22,081

 

 

Total Liabilities
$
(12,294,722
)
 
$
22,191

 
$
(12,272,531
)
 
$
12,272,531

 
$

 
$

____________________
(1)
Amounts presented are limited in total to the net amount of assets or liabilities presented in the condensed consolidated balance sheets by instrument. Excess cash collateral or financial assets that are pledged to counterparties may exceed the financial liabilities subject to a master netting arrangement or similar agreement, or counterparties may have pledged excess cash collateral to the Company that exceed the corresponding financial assets. These excess amounts are excluded from the table above, although separately reported within restricted cash, due from counterparties, or due to counterparties in the Company’s condensed consolidated balance sheets.