SECURITIES PURCHASED UNDER RESALE AGREEMENTS AND SOLD UNDER REPURCHASE AGREEMENTS (Tables)

6 Months Ended

Jun. 30, 2016

RESALE AND REPURCHASE AGREEMENTS

Schedule of resale and repurchase agreements

The following tables present resale and repurchase agreements included on the Consolidated Balance Sheets as of June 30, 2016 and December 31, 2015:

($ in thousands)	As of June 30, 2016
	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheets			Net Amounts of Assets Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Assets								Financial Instruments		Collateral Received				Net Amount
Resale agreements	$	2,100,000	$	(250,000	)	$	1,850,000	$	—	$	(1,849,189	)	(1)	$	811
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheets			Net Amounts of Liabilities Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Liabilities								Financial Instruments		Collateral  Posted				Net Amount
Repurchase agreements	$	450,000	$	(250,000	)	$	200,000	$	—	$	(200,000	)	(2)	$	—

($ in thousands)	As of December 31, 2015
	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheets			Net Amounts of Assets Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Assets								Financial Instruments		Collateral Received				Net Amount
Resale agreements	$	2,050,000	$	(450,000	)	$	1,600,000	$	—	$	(1,593,503	)	(1)	$	6,497
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheets			Net Amounts of Liabilities Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Liabilities								Financial Instruments		Collateral  Posted				Net Amount
Repurchase agreements	$	450,000	$	(450,000	)	$	—	$	—	$	—		(2)	$	—

(1) Represents the fair value of securities the Company has received under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty.

(2) Represents the fair value of securities the Company has pledged under repurchase agreements, limited for table presentation purposes to the amount of the recognized liability owed to each counterparty.