Securities Purchased under Resale Agreements and Sold under Repurchase Agreements (Tables)

3 Months Ended

Mar. 31, 2020

RESALE AND REPURCHASE AGREEMENTS [Abstract]

Schedule of balance sheet offsetting for resale and repurchase agreements

The following tables present the resale and repurchase agreements included on the Consolidated Balance Sheet as of March 31, 2020 and December 31, 2019:




($ in thousands)	March 31, 2020
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts of Assets Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet				Net Amount
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet				Collateral Received				Net Amount
Resale agreements	$	860,000	$	—	$	860,000	$	(859,842	)	⁽¹⁾	$	158

Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet		Net Amounts of Liabilities Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet				Net Amount
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet				Collateral Pledged				Net Amount
Repurchase agreements	$	450,000	$	—	$	450,000	$	(441,246	)	⁽²⁾	$	8,754




($ in thousands)	December 31, 2019
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Assets Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet				Net Amount
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet					Collateral Received				Net Amount
Resale agreements	$	1,110,000	$	(250,000	)	$	860,000	$	(856,058	)	⁽¹⁾	$	3,942

Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Liabilities Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet				Net Amount
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet					Collateral Pledged				Net Amount
Repurchase agreements	$	450,000	$	(250,000	)	$	200,000	$	(200,000	)	⁽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. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.


(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 due to each counterparty. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.