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Collateralized Transactions (Tables)
 3 Months Ended
Feb. 28, 2015
Banking and Thrift [Abstract]  
Summary of Repurchase Agreements and Securities Borrowing and Lending Arrangements
The following tables provide information regarding repurchase agreements and securities borrowing and lending arrangements that are recognized in the Consolidated Statements of Financial Condition and 1) the extent to which, under enforceable master netting arrangements, such balances are presented net in the Consolidated Statements of Financial Condition as appropriate under GAAP and 2) the extent to which other rights of setoff associated with these arrangements exist and could have an effect on our financial position (in thousands). See Note 5, Derivative Financial Instruments, for information related to offsetting of derivatives.
 
February 28, 2015
 
Gross
Amounts
 
Netting in
Consolidated
Statement of
Financial
Condition
 
Net Amounts in
Consolidated
Statement of
Financial
Condition
 
Additional
Amounts
Available for
Setoff (1)
 
Available
Collateral (2)
 
Net Amount (3)
Assets
 
 
 
 
 
 
 
 
 
 
 
Securities borrowing arrangements
$
6,566,376

 
$
—

 
$
6,566,376

 
$
(526,142
)
 
$
(766,832
)
 
$
5,273,402

Reverse repurchase agreements
11,109,009

 
(7,363,321
)
 
3,745,688

 
(236,325
)
 
(3,450,577
)
 
58,786

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
3,173,512

 
$
—

 
$
3,173,512

 
$
(526,142
)
 
$
(2,616,154
)
 
$
31,216

Repurchase agreements
18,686,688

 
(7,363,321
)
 
11,323,367

 
(236,325
)
 
(10,039,131
)
 
1,047,911


 
 
November 30, 2014
 
Gross
Amounts
 
Netting in
Consolidated
Statement of
Financial
Condition
 
Net Amounts in
Consolidated
Statement of
Financial
Condition
 
Additional
Amounts
Available for
Setoff (1)
 
Available
Collateral (2)
 
Net Amount (4)
Assets
 
 
 
 
 
 
 
 
 
 
 
Securities borrowing arrangements
$
6,853,103

 
$
—

 
$
6,853,103

 
$
(680,222
)
 
$
(1,274,196
)
 
$
4,898,685

Reverse repurchase agreements
14,059,133

 
(10,132,275
)
 
3,926,858

 
(634,568
)
 
(3,248,817
)
 
43,473

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
2,598,487

 
$
—

 
$
2,598,487

 
$
(680,222
)
 
$
(1,883,140
)
 
$
35,125

Repurchase agreements
20,804,432

 
(10,132,275
)
 
10,672,157

 
(634,568
)
 
(8,810,770
)
 
1,226,819


(1)
Under master netting agreements with our counterparties, we have the legal right of offset with a counterparty, which incorporates all of the counterparty’s outstanding rights and obligations under the arrangement. These balances reflect additional credit risk mitigation that is available by counterparty in the event of a counterparty’s default, but which are not netted in the balance sheet because other netting provisions of U.S. GAAP are not met.
(2)
Includes securities received or paid under collateral arrangements with counterparties that could be liquidated in the event of a counterparty default and thus offset against a counterparty’s rights and obligations under the respective repurchase agreements or securities borrowing or lending arrangements.
(3)
Amounts include $5,241.5 million of securities borrowing arrangements, for which we have received securities collateral of $5,093.8 million, and $1,038.8 million of repurchase agreements, for which we have pledged securities collateral of $1,073.4 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable.
(4)
Amounts include $4,847.4 million of securities borrowing arrangements, for which we have received securities collateral of $4,694.0 million, and $1,201.9 million of repurchase agreements, for which we have pledged securities collateral of $1,238.4 million, which are subject to master netting agreements but we have not yet determined the agreements to be legally enforceable.