Balance Sheet Offsetting (Tables)

3 Months Ended

Mar. 31, 2015

Balance Sheet Offsetting

Schedule of the assets subject to an enforceable master netting arrangement or repurchase agreements

The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands).

							Gross Amounts Not Offset in
					Net Amounts		the Balance Sheet
	Gross Amounts		Gross Amounts		of Assets					Cash
	of Recognized		Offset in the		Presented in the		Financial			Collateral		Net
	Assets		Balance Sheet		Balance Sheet		Instruments			Pledged		Amount
March 31, 2015
Securities borrowed:
Institutional counterparties	$	1,990,598	$	—	$	1,990,598	$	(1,990,598	)	$	—	$	—
Interest rate swaps and swaptions:
Institutional counterparties	1,454		—		1,454		—			—		1,454
Reverse repurchase agreements:
Institutional counterparties	67,227		—		67,227		(67,132		)	—		95
Forward MBS derivatives:
Institutional counterparties	6,239		—		6,239		(6,239		)	—		—
	$	2,065,518	$	—	$	2,065,518	$	(2,063,969	)	$	—	$	1,549
December 31, 2014
Securities borrowed:
Institutional counterparties	$	152,899	$	—	$	152,899	$	(152,899	)	$	—	$	—
Interest rate swaps and swaptions:
Institutional counterparties	425		—		425		—			—		425
Forward MBS derivatives:
Institutional counterparties	41		—		41		—			—		41
	$	153,365	$	—	$	153,365	$	(152,899	)	$	—	$	466

Schedule of the liabilities subject to an enforceable master netting arrangement or repurchase agreements

The following tables present the assets and liabilities subject to enforceable master netting arrangements, repurchase agreements, or similar agreements with offsetting rights (in thousands).

								Gross Amounts Not Offset in
						Net Amounts		the Balance Sheet
	Gross Amounts		Gross Amounts			of Liabilities					Cash
	of Recognized		Offset in the			Presented in the		Financial			Collateral			Net
	Liabities		Balance Sheet			Balance Sheet		Instruments			Pledged			Amount
March 31, 2015
Securities loaned:
Institutional counterparties	$	1,853,366	$	—		$	1,853,366	$	(1,853,366	)	$	—		$	—
Interest rate swaps and swaptions:
Institutional counterparties		888		—			888		(1,564	)		—			(676	)
Repurchase agreements:
Institutional counterparties	241,822		—			241,822		(241,822		)	—			—
Customer counterparties	132,355		—			132,355		(132,355		)	—			—
Forward MBS derivatives:
Institutional counterparties	21,149		(482		)	20,667		(6,239		)	(6,573		)	7,855
	$	2,249,580	$	(482	)	$	2,249,098	$	(2,235,346	)	$	(6,573	)	$	7,179
December 31, 2014
Securities loaned:
Institutional counterparties	$	117,822	$	—		$	117,822	$	(117,822	)	$	—		$	—
Repurchase agreements:
Customer counterparties	136,396		—			136,396		(136,396		)	—			—
Forward MBS derivatives:
Institutional counterparties	12,829		(223		)	12,606		—			(6,137		)	6,469
	$	267,047	$	(223	)	$	266,824	$	(254,218	)	$	(6,137	)	$	6,469