SECURED FINANCING (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Repurchase Agreements Remaining Maturity ,Collateral Types and Weighted Average Rates

At June 30, 2024 and December 31, 2023, the repurchase agreements had the following remaining maturities and collateral types:


June 30, 2024
	Agency Mortgage-Backed Securities		CRTs		Non-Agency Mortgage-Backed Securities		Residential Mortgage Loans		Commercial Mortgage-Backed Securities				Total Repurchase Agreements
	(dollars in thousands)
1 day	$	20,898,019	$	47,794	$	88,066	$	—	$	—			$	21,033,879
2 to 29 days	14,107,044		315,802		644,301		—		100,617				15,167,764
30 to 59 days	17,110,329		—		711,446		—		—				17,821,775
60 to 89 days	3,329,272		273,174		542,254		—		—				4,144,700
90 to 119 days	460,761		—		66,755		330,994		—				858,510
Over 119 days (1)	2,750,361		—		320,691		701,685		—				3,772,737
Total	$	58,655,786	$	636,770	$	2,373,513	$	1,032,679	$	100,617			$	62,799,365

Amounts offset in accordance with netting arrangements.											$	(2,011,371)
Net amounts of Repurchase agreements as presented in the Consolidated Statements of Financial Condition.											$	60,787,994


December 31, 2023
	Agency Mortgage-Backed Securities		CRTs		Non-Agency Mortgage-Backed Securities		Residential Mortgage Loans		Commercial Mortgage-Backed Securities				Total Repurchase Agreements
	(dollars in thousands)
1 day	$	—	$	—	$	—	$	—	$	—			$	—
2 to 29 days	33,492,952		555,568		840,400		—		191,276				35,080,196
30 to 59 days	18,090,265		—		528,341		—		—				18,618,606
60 to 89 days	6,479,206		139,952		579,611		—		—				7,198,769
90 to 119 days	—		—		39,714		207,592		—				247,306
Over 119 days (1)	2,511,003		—		169,697		644,259		—				3,324,959
Total	$	60,573,426	$	695,520	$	2,157,763	$	851,851	$	191,276			$	64,469,836

Amounts offset in accordance with netting arrangements.											$	(2,268,293)
Net amounts of Repurchase agreements as presented in the Consolidated Statements of Financial Condition.											$	62,201,543

(1) Less than 1% of repurchase agreements had a remaining maturity over 1 year at June 30, 2024. No repurchase agreements had a remaining maturity over 1 year at December 31, 2023.

Summary of Gross Amounts, Amounts Offset and Net Amounts of Repurchase Agreement and Reverse Repurchase Agreement

The following table summarizes the gross amounts of reverse repurchase agreements and repurchase agreements, amounts offset in accordance with netting arrangements and net amounts of repurchase agreements and reverse repurchase agreements as presented in the Consolidated Statements of Financial Condition at June 30, 2024 and December 31, 2023. Refer to the “Derivative Instruments” Note for information related to the effect of netting arrangements on the Company’s derivative instruments.


	June 30, 2024				December 31, 2023
	Reverse Repurchase Agreements		Repurchase Agreements		Reverse Repurchase Agreements		Repurchase Agreements
	(dollars in thousands)
Gross amounts	$	2,011,371	$	62,799,365	$	2,268,293	$	64,469,836
Amounts offset	(2,011,371)		(2,011,371)		(2,268,293)		(2,268,293)
Netted amounts	$	—	$	60,787,994	$	—	$	62,201,543