Offsetting Derivative and Other Financial Instruments (Notes)

12 Months Ended

Jun. 30, 2019

Offsetting [Abstract]

Offsetting Derivative and Other Financial Instruments

Note 21: Offsetting Derivative and Other Financial Instruments

The Corporation’s derivative transactions are generally governed by International Swaps and Derivatives Association Master Agreements and similar arrangements, which include provisions governing the offset of assets and liabilities between the parties. When the Corporation has more than one outstanding derivative transaction with a single counterparty, the offset provisions contained within these agreements generally allow the non-defaulting party the right to reduce its liability to the defaulting party by amounts eligible for offset, including the collateral received as well as eligible offsetting transactions with that counterparty, irrespective of the currency, place of payment, or booking office. The Corporation’s policy is to present its derivative assets and derivative liabilities on the Consolidated Statements of Financial Condition on a net basis for each type of derivative. The derivative assets and liabilities are comprised of mandatory loan sale commitments, TBA MBS trades and option contracts.

The following tables present the gross and net amounts of derivative assets and liabilities and other financial instruments as reported in the Corporation’s Consolidated Statements of Financial Condition, and the gross amount not offset in the Corporation’s Consolidated Statements of Financial Condition as of the dates indicated.

As of June 30, 2019:

Net

Gross

Amount

Amount

of Assets

Gross Amount Not

Offset in the

Presented in

Offset in the Consolidated

Gross

Consolidated

the Consolidated

Statements of Financial Condition

Amount of

Statements

Statements

Cash

Recognized

of Financial

of Financial

Financial

Collateral

Net

(In Thousands)

Assets

Condition

Condition

Instruments

Received

Amount

Assets

Derivatives

$

—

$

—

$

—

$

—

$

—

$

—

Total

$

—

$

—

$

—

$

—

$

—

$

—

Net

Gross

Amount

Amount

of Liabilities

Gross Amount Not

Offset in the

Presented in

Offset in the Consolidated

Gross

Consolidated

the Consolidated

Statements of Financial Condition

Amount of

Statements

Statements

Cash

Recognized

of Financial

of Financial

Financial

Collateral

Net

(In Thousands)

Liabilities

Condition

Condition

Instruments

Pledged

Amount

Liabilities

Derivatives

$

—

$

—

$

—

$

—

$

—

$

—

Total

$

—

$

—

$

—

$

—

$

—

$

—

As of June 30, 2018:

Net

Gross

Amount

Amount

of Assets

Gross Amount Not

Offset in the

Presented in

Offset in the Consolidated

Gross

Consolidated

the Consolidated

Statements of Financial Condition

Amount of

Statements

Statements

Cash

Recognized

of Financial

of Financial

Financial

Collateral

Net

(In Thousands)

Assets

Condition

Condition

Instruments

Received

Amount

Assets

Derivatives

$

—

$

—

$

—

$

—

$

—

$

—

Total

$

—

$

—

$

—

$

—

$

—

$

—

					Net
			Gross		Amount
			Amount		of Liabilities		Gross Amount Not
			Offset in the		Presented in		Offset in the Consolidated
	Gross		Consolidated		the Consolidated		Statements of Financial Condition
	Amount of		Statements		Statements				Cash
	Recognized		of Financial		of Financial		Financial		Collateral		Net
(In Thousands)	Liabilities		Condition		Condition		Instruments		Pledged		Amount
Liabilities
Derivatives	$	440	$	—	$	440	$	—	$	—	$	440
Total	$	440	$	—	$	440	$	—	$	—	$	440