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Offsetting Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2013
Offsetting Assets and Liabilities  
Schedule of information about certain assets that are subject to master netting arrangements (or similar agreements)

 

 

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in 
the Consolidated Balance Sheet

 

 

 

(In Thousands) 

 

Amounts of
Recognized 
Assets

 

 Offset in the 
Consolidated
 Balance Sheet

 

Assets Presented in
the Consolidated
Balance Sheet

 

Financial
Instruments

 

Cash 
Collateral 
Received

 

Net Amount

 

March 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative hedging instruments, at fair value

 

$

324

 

$

—

 

$

324

 

$

(324

)

$

—

 

$

—

 

Total

 

$

324

 

$

—

 

$

324

 

$

(324

)

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative hedging instruments, at fair value

 

$

203

 

$

—

 

$

203

 

$

(203

)

$

—

 

$

—

 

Total

 

$

203

 

$

—

 

$

203

 

$

(203

)

$

—

 

$

—

 

 
Schedule of information about certain liabilities that are subject to master netting arrangements (or similar agreements)

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in the 
Consolidated Balance Sheet

 

 

 

(In Thousands)

 

Amounts of 
Recognized 
Liabilities

 

Offset in the 
Consolidated 
Balance Sheet

 

Liabilities Presented in 
the Consolidated
Balance Sheet

 

Financial 
Instruments (1)

 

Cash 
Collateral 
Pledged (1)

 

Net Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative hedging instruments, at fair value (2)

 

$

50,839

 

$

—

 

$

50,839

 

$

(45,822

)

$

(5,017

)

$

—

 

Repurchase agreements (3)

 

8,902,827

 

—

 

8,902,827

 

(8,902,827

)

—

 

—

 

Total

 

$

8,953,666

 

$

—

 

$

8,953,666

 

$

(8,948,649

)

$

(5,017

)

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative hedging instruments, at fair value (2)

 

$

63,034

 

$

—

 

$

63,034

 

$

(58,018

)

$

(5,016

)

$

—

 

Repurchase agreements (3)

 

8,752,472

 

—

 

8,752,472

 

(8,752,472

)

—

 

—

 

Total

 

$

8,815,506

 

$

—

 

$

8,815,506

 

$

(8,810,490

)

$

(5,016

)

$

—

 

 

 

(1) Amounts disclosed in the Financial Instruments column of the table above represents collateral pledged that is available to be offset against liability balances associated with repurchase agreement and derivative transactions.  Amounts disclosed in the Cash Collateral Pledged column of the table above represents amounts pledged as collateral against derivative transactions.

(2) The fair value of securities pledged against the Company’s Swaps was $57.1 million and $68.9 million at March 31, 2013 and December 31, 2012, respectively.

(3) The fair value of securities pledged against the Company’s repurchase agreements was $10.908 billion and $10.550 billion at March 31, 2013 and December 31, 2012, respectively.