XML 45 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Collateralized Transactions (Tables)
 3 Months Ended
Feb. 29, 2016
Banking and Thrift [Abstract]  
Schedule of Collateralized Financing Transactions
The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by class of collateral pledged (in thousands):
 
 
February 29, 2016
 
 
Securities Lending Arrangements
 
Repurchase Agreements
 
Total
Collateral Pledged:
 
 
 
 
 
 
    Corporate equity securities
 
$
2,102,900

 
$
169,750

 
$
2,272,650

    Corporate debt securities
 
524,824

 
1,542,462

 
2,067,286

    Mortgage- and asset-backed securities
 
—

 
2,956,153

 
2,956,153

    U.S. government and federal agency securities
 
42,887

 
7,543,014

 
7,585,901

    Municipal securities
 
—

 
429,167

 
429,167

    Sovereign obligations
 
—

 
1,897,266

 
1,897,266

    Loans and other receivables
 
—

 
441,170

 
441,170

           Total
 
$
2,670,611

 
$
14,978,982

 
$
17,649,593

 
 
November 30, 2015
 
 
Securities Lending Arrangements
 
Repurchase Agreements
 
Total
Collateral Pledged:
 
 
 
 
 
 
    Corporate equity securities
 
$
2,195,912

 
$
275,880

 
$
2,471,792

    Corporate debt securities
 
748,405

 
1,752,222

 
2,500,627

    Mortgage- and asset-backed securities
 
—

 
3,537,812

 
3,537,812

    U.S. government and federal agency securities
 
34,983

 
12,006,081

 
12,041,064

    Municipal securities
 
—

 
357,350

 
357,350

    Sovereign obligations
 
—

 
1,804,103

 
1,804,103

    Loans and other receivables
 
—

 
462,534

 
462,534

           Total
 
$
2,979,300

 
$
20,195,982

 
$
23,175,282


The following tables set forth the carrying value of securities lending arrangements and repurchase agreements by remaining contractual maturity (in thousands):
 
February 29, 2016
 
Overnight and Continuous
 
Up to 30 Days
 
30-90 Days
 
Greater than 90 Days
 
Total
Securities lending arrangements
$
1,391,681

 
$
—

 
$
1,278,930

 
$
—

 
$
2,670,611

Repurchase agreements
7,216,429

 
2,937,670

 
3,856,051

 
968,832

 
14,978,982

        Total
$
8,608,110

 
$
2,937,670

 
$
5,134,981

 
$
968,832

 
$
17,649,593

 
November 30, 2015
 
Overnight and Continuous
 
Up to 30 Days
 
30-90 Days
 
Greater than 90 Days
 
Total
Securities lending arrangements
$
1,522,475

 
$
—

 
$
973,201

 
$
483,624

 
$
2,979,300

Repurchase agreements
7,850,791

 
5,218,059

 
5,291,729

 
1,835,403

 
20,195,982

        Total
$
9,373,266

 
$
5,218,059

 
$
6,264,930

 
$
2,319,027

 
$
23,175,282
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 U.S. 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).
 
February 29, 2016
 
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
$
7,347,587

 
$
—

 
$
7,347,587

 
$
(533,115
)
 
$
(623,574
)
 
$
6,190,898

Reverse repurchase agreements
10,253,312

 
(6,726,626
)
 
3,526,686

 
(151,575
)
 
(3,345,710
)
 
29,401

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
2,670,611

 
$
—

 
$
2,670,611

 
$
(533,115
)
 
$
(2,096,442
)
 
$
41,054

Repurchase agreements
14,978,982

 
(6,726,626
)
 
8,252,356

 
(151,575
)
 
(6,323,605
)
 
1,777,176

 
November 30, 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 (4)
Assets
 
 
 
 
 
 
 
 
 
 
 
Securities borrowing arrangements
$
6,975,136

 
$
—

 
$
6,975,136

 
$
(478,991
)
 
$
(667,099
)
 
$
5,829,046

Reverse repurchase agreements
14,048,860

 
(10,191,554
)
 
3,857,306

 
(83,452
)
 
(3,745,215
)
 
28,639

Liabilities
 
 
 
 
 
 
 
 
 
 
 
Securities lending arrangements
$
2,979,300

 
$
—

 
$
2,979,300

 
$
(478,991
)
 
$
(2,464,395
)
 
$
35,914

Repurchase agreements
20,195,982

 
(10,191,554
)
 
10,004,428

 
(83,452
)
 
(8,103,468
)
 
1,817,508


(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 $6,158.2 million of securities borrowing arrangements, for which we have received securities collateral of $5,970.0 million, and $1,767.0 million of repurchase agreements, for which we have pledged securities collateral of $1,823.3 million, which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.
(4)
Amounts include $5,796.1 million of securities borrowing arrangements, for which we have received securities collateral of $5,613.3 million, and $1,807.2 million of repurchase agreements, for which we have pledged securities collateral of $1,875.3, which are subject to master netting agreements but we have not determined the agreements to be legally enforceable.