XML 49 R33.htm IDEA: XBRL DOCUMENT

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

12 Months Ended

Dec. 31, 2017

RESALE AND REPURCHASE AGREEMENTS

Schedule of balance sheet offsetting for resale agreements and repurchase agreements

The following tables present the resale and repurchase agreements included on the Consolidated Balance Sheet as of December 31, 2017 and 2016:




($ in thousands)		As of December 31, 2017
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								Financial Instruments				Collateral Received				Net Amount
Resale agreements		$	1,450,000			$	(400,000	)		$	1,050,000			$	—			$	(1,045,696	)	⁽²⁾	$	4,304

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								Financial Instruments				Collateral Pledged				Net Amount
Repurchase agreements		$	450,000			$	(400,000	)		$	50,000			$	—			$	(50,000	)	⁽³⁾	$	—




($ In thousands)		As of December 31, 2016
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								Financial Instruments				Collateral Received				Net Amount
Resale agreements		$	2,100,000			$	(100,000	)		$	2,000,000			$	(150,000	)	⁽¹⁾	$	(1,839,120	)	⁽²⁾	$	10,880

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								Financial Instruments				Collateral Pledged				Net Amount
Repurchase agreements		$	450,000			$	(100,000	)		$	350,000			$	(150,000	)	⁽¹⁾	$	(200,000	)	⁽³⁾	$	—


(1)	Represents financial instruments subject to enforceable master netting arrangements that are not eligible to be offset under ASC 210-20-45-11 but would be eligible for offsetting to the extent that an event of default has occurred.


(2)	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.


(3)	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.