GUARANTEES AND COLLATERAL (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Guarantor Obligations [Table Text Block]

The following table summarizes guarantees, by type, at June 30, 2013 and December 31, 2012:

	June 30, 2013				December 31, 2012
(in thousands)	Maximum Exposure		Carrying Amount		Maximum Exposure		Carrying Amount
Indemnification contracts	$	26,178	$	1,365	$	26,178	$	1,531
Other		-		-		376		34
Total	$	26,178	$	1,365	$	26,554	$	1,565

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

The following table summarizes the Company’s assets that are either pledged or restricted for the Company’s use at June 30, 2013 and December 31, 2012:

		June 30, 2013
(in thousands)	Note Ref.	Restricted Cash		Bonds Available- for-sale		Real Estate Held-for- Use		Investment in Preferred stock		Other Assets		Total
Senior interests in and debt owed to securitization trusts	A	$	1,668	$	815,033	$	2,619	$	-	$	-	$	819,320
Notes payable	B		116		-		1,735		-		12,126		13,977
Other	C		19,094		53,635		13,643		31,371		331		118,074
CFVs	D		56,098		-		153,427		-		22,768		232,293
Total		$	76,976	$	868,668	$	171,424	$	31,371	$	35,225	$	1,183,664

		December 31, 2012
(in thousands)	Note Ref.	Restricted Cash		Bonds Available- for-sale		Real Estate Held-for- Use		Other Assets		Total
Senior interests in and debt owed to securitization trusts	A	$	2	$	865,992	$	2,619	$	-	$	868,613
Notes payable	B		13		-		1,735		14,302		16,050
Other	C		1,341		59,354		13,402		389		74,486
CFVs	D		53,957		-		111,931		17,568		183,456
Total		$	55,313	$	925,346	$	129,687	$	32,259	$	1,142,605

A. Includes assets held by bond securitization trusts as well as assets pledged as collateral for bond securitizations.

B. The Company pledges bonds, loans, investments in preferred stock, investments in solar facilities and an investment in a mixed-use real estate development as collateral for notes payable.

C. The Company pledges collateral in connection with secured borrowings, derivative transactions, other liabilities, guarantee exposure and leases. The Company may elect to pledge collateral on behalf of the Company’s customers in order to facilitate credit and other collateral requirements. In addition, cash may be restricted for funding obligations.

D. These are assets held by non-profit entities which are consolidated by the Company. The real estate serves as collateral to bonds eliminated in consolidation.