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Collateralized transactions (Tables)
 6 Months Ended
Sep. 30, 2018
Collateralized Transactions  
Offsetting of the transactions in the consolidated balance sheets

 

    Billions of yen  
    March 31, 2018  
    Assets     Liabilities  
    Reverse
repurchase
agreements		     Securities
borrowing
transactions		     Repurchase
agreements		     Securities
lending
transactions		  

Total gross balance(1)

  ¥ 29,975     ¥ 6,681     ¥ 34,880     ¥ 2,130  

Less: Amounts offset in the consolidated balance sheets(2)

    (20,121 )      (305 )      (20,121 )      (305 ) 
 

 

 

    

 

 

    

 

 

    

 

 

  

Total net amounts of reported on the face of the consolidated balance sheets(3)

  ¥ 9,854     ¥ 6,376     ¥ 14,759     ¥ 1,825  
 

 

 

    

 

 

    

 

 

    

 

 

  

Less: Additional amounts not offset in the consolidated balance sheets(4)

       

Financial instruments and non-cash collateral

     (8,657 )      (5,247 )      (11,886 )      (674 ) 

Cash collateral

     (33 )      —         3       —    
 

 

 

    

 

 

    

 

 

    

 

 

  

Net amount

   ¥ 1,164     ¥ 1,129     ¥ 2,876     ¥ 1,151  
 

 

 

    

 

 

    

 

 

    

 

 

  
    Billions of yen  
    September 30, 2018  
    Assets     Liabilities  
    Reverse
repurchase
agreements		     Securities
borrowing
transactions		     Repurchase
agreements		     Securities
lending
transactions		  

Total gross balance(1)

  ¥ 34,128     ¥ 4,489     ¥ 37,361     ¥ 1,691  

Less: Amounts offset in the consolidated balance sheets(2)

    (18,715 )      —         (18,715 )      —    
 

 

 

    

 

 

    

 

 

    

 

 

  

Total net amounts of reported on the face of the consolidated balance sheets(3)

  ¥ 15,413     ¥ 4,489     ¥ 18,646     ¥ 1,691  
 

 

 

    

 

 

    

 

 

    

 

 

  

Less: Additional amounts not offset in the consolidated balance sheets(4)

       

Financial instruments and non-cash collateral

     (13,524 )      (3,515 )      (13,576 )      (1,522 ) 

Cash collateral

     (4 )      —         —         —    
 

 

 

    

 

 

    

 

 

    

 

 

  

Net amount

   ¥ 1,885     ¥ 974     ¥ 5,070     ¥ 169  
 

 

 

    

 

 

    

 

 

    

 

 

  

 

(1)

Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2018, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,039 billion and ¥2,827 billion, respectively. As of March 31, 2018, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,049 billion and ¥177 billion, respectively. As of September 30, 2018, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥923 billion and ¥4,133 billion, respectively. As of September 30, 2018, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥890 billion and ¥153 billion, respectively.

(2)

Represents amounts offset through counterparty netting under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 210-20. Amounts offset include transactions carried at fair value through election of the fair value option.

(3)

Reverse repurchase agreements and securities borrowing transactions are reported within Collateralized agreements—Securities purchased under agreements to resell and Collateralized agreements—Securities borrowed in the consolidated balance sheets, respectively. Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported under securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets.

(4)

Represents amounts which are not permitted to be offset on the face of the balance sheet in accordance with ASC 210-20 but which provide Nomura with the right of offset in the event of counterparty default. Amounts relating to agreements where Nomura has not yet obtained sufficient evidence of enforceability of such offsetting rights are excluded.
Maturity analysis of repurchase agreements and securities lending transactions
     Billions of yen  
     March 31, 2018  
     Overnight
and open(1)		      Up to
30 days		      30 – 90
days		      90 days –
1 year		      Greater
than 1 year		      Total  

Repurchase agreements

    ¥ 13,237      ¥ 17,789      ¥ 2,099      ¥ 1,415      ¥ 340      ¥ 34,880  

Securities lending transactions

      1,495        227        182        156        70        2,130  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total gross recognized liabilities(2)

   ¥ 14,732      ¥ 18,016      ¥ 2,281      ¥ 1,571      ¥ 410      ¥ 37,010  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  
     Billions of yen  
     September 30, 2018  
     Overnight
and open(1)		      Up to
30 days		      30 – 90
days		      90 days –
1 year		      Greater
than 1 year		      Total  

Repurchase agreements

    ¥ 14,056      ¥ 18,495      ¥ 2,587      ¥ 1,880      ¥ 343      ¥ 37,361  

Securities lending transactions

      1,086        212        145        178        70        1,691  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total gross recognized liabilities(2)

   ¥ 15,142      ¥ 18,707      ¥ 2,732      ¥ 2,058      ¥ 413      ¥ 39,052  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(1)

Open transactions do not have an explicit contractual maturity date and are terminable on demand by Nomura or the counterparty.

(2)

Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported for securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. The total gross recognized liabilities reported for repurchase agreements and securities lending transactions are consistent with the total gross balances reported in the offsetting disclosures above.

 
Securities transferred in repurchase agreements and securities lending transactions
     Billions of yen  
     March 31, 2018  
     Repurchase
agreements		      Securities
lending
transactions		      Total  

Equities and convertible securities

    ¥ 187      ¥ 1,556      ¥ 1,743  

Japanese government, agency and municipal securities

      980        306        1,286  

Foreign government, agency and municipal securities

      27,818        135        27,953  

Bank and corporate debt securities

      2,334        34        2,368  

Commercial mortgage-backed securities (“CMBS”)

      2        —          2  

Residential mortgage-backed securities (“RMBS”)(1)

     3,421        —          3,421  

Collateralized debt obligations (“CDOs”) and other

      130        —          130  

Investment trust funds and other

      8        99        107  
  

 

 

     

 

 

     

 

 

  

Total gross recognized liabilities(2)

   ¥ 34,880      ¥ 2,130      ¥ 37,010  
  

 

 

     

 

 

     

 

 

  
     Billions of yen  
     September 30, 2018  
     Repurchase
agreements		      Securities
lending
transactions		      Total  

Equities and convertible securities

    ¥ 109      ¥ 1,369      ¥ 1,478  

Japanese government, agency and municipal securities

      1,407        —          1,407  

Foreign government, agency and municipal securities

      28,389        34        28,423  

Bank and corporate debt securities

      2,455        91        2,546  

Commercial mortgage-backed securities (“CMBS”)

      14        —          14  

Residential mortgage-backed securities (“RMBS”)(1)

     4,863        —          4,863  

Collateralized debt obligations (“CDOs”) and other

      109        —          109  

Investment trust funds and other

      15        197        212  
  

 

 

     

 

 

     

 

 

  

Total gross recognized liabilities(2)

   ¥ 37,361      ¥ 1,691      ¥ 39,052  
  

 

 

     

 

 

     

 

 

  

 

(1)

Includes ¥3,351 billion as of March 31, 2018 and ¥4,752 billion as of September 30, 2018 of U.S. government sponsored agency mortgage pass-through securities and collateralized mortgage obligations.

(2)

Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported for securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. The total gross recognized liabilities reported for repurchase agreements and securities lending transactions are consistent with the total gross balances reported in the offsetting disclosures above.
Fair value of securities received as collateral available to sell or repledge
     Billions of yen  
     March 31, 2018        September 30, 2018  

The fair value of securities received as collateral, securities borrowed as collateral and securities borrowed without collateral where Nomura is permitted by contract or custom to sell or repledge the securities

    ¥          48,434        ¥              49,097  

The portion of the above that has been sold (reported within Trading liabilities in the consolidated balance sheets) or repledged

      40,420          39,742  
Assets owned, pledged as collateral
     Millions of yen  
     March 31, 2018        September 30, 2018  

Trading assets:

        

Equities and convertible securities

    ¥ 156,429        ¥ 155,946  

Government and government agency securities

      956,089          1,258,903  

Bank and corporate debt securities

      65,864          94,324  

Commercial mortgage-backed securities (“CMBS”)

      1          1  

Residential mortgage-backed securities (“RMBS”)

      2,618,336          3,527,573  

Collateralized debt obligations (“CDO”) and other(1)

     30,497          7,175  

Investment trust funds and other

      7,689          13,544  
  

 

 

       

 

 

  
   ¥     3,834,905        ¥         5,057,466  
  

 

 

       

 

 

  

Non-trading debt securities

    ¥ 23,566        ¥ 1,032  

Investments in and advances to affiliated companies

    ¥ 12,042        ¥ 12,506  

 

(1)

Includes CLOs and ABS such as those secured on credit card loans, auto loans and student loans.
Assets subject to lien
     Millions of yen  
     March 31, 2018        September 30, 2018  

Loans and receivables

    ¥            15,573        ¥                28,442  

Trading assets

      1,456,140          1,451,973  

Office buildings, land, equipment and facilities

      5,585          144  

Non-trading debt securities

      192,046          142,277  

Other

      112          69  
  

 

 

       

 

 

  
   ¥     1,669,456        ¥         1,622,905