Balance Sheet Offsetting (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016
Securities borrowed:
Institutional counterparties	$	1,315,940	$	—	$	1,315,940	$	(1,315,940)	$	—	$	—
Interest rate swaps and swaptions:
Institutional counterparties		3,114		(404)		2,710		—		—		2,710
Reverse repurchase agreements:
Institutional counterparties		96,646		—		96,646		(96,462)		—		184
Forward MBS derivatives:
Institutional counterparties		23,811		—		23,811		(23,811)		—		—
	$	1,439,511	$	(404)	$	1,439,107	$	(1,436,213)	$	—	$	2,894
December 31, 2015
Securities borrowed:
Institutional counterparties	$	1,307,741	$	—	$	1,307,741	$	(1,307,741)	$	—	$	—
Interest rate swaps and swaptions:
Institutional counterparties		1,526		(393)		1,133		—		—		1,133
Reverse repurchase agreements:
Institutional counterparties		105,660		—		105,660		(105,412)		—		248
Forward MBS derivatives:
Institutional counterparties		1,377		—		1,377		(1,377)		—		—
	$	1,416,304	$	(393)	$	1,415,911	$	(1,414,530)	$	—	$	1,381

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

							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
	Liabilities		Balance Sheet		Balance Sheet		Instruments		Pledged		Amount
March 31, 2016
Securities loaned:
Institutional counterparties	$	1,222,522	$	—	$	1,222,522	$	(1,222,522)	$	—	$	—
Interest rate swaps and swaptions:
Institutional counterparties		1,106		—		1,106		(2,518)		—		(1,412)
Repurchase agreements:
Institutional counterparties		164,647		—		164,647		(164,647)		—		—
Customer counterparties		155,374		—		155,374		(155,374)		—		—
Forward MBS derivatives:
Institutional counterparties		23,582		(288)		23,294		(11,882)		—		11,412
	$	1,567,231	$	(288)	$	1,566,943	$	(1,556,943)	$	—	$	10,000
December 31, 2015
Securities loaned:
Institutional counterparties	$	1,235,466		—		1,235,466		(1,235,466)		—		—
Interest rate swaps and swaptions:
Institutional counterparties		643		—		643		(2,519)		—		(1,876)
Repurchase agreements:
Institutional counterparties		69,748		—		69,748		(69,748)		—		—
Customer counterparties		148,000		—		148,000		(148,000)		—		—
Forward MBS derivatives:
Institutional counterparties		4,385		(1,769)		2,616		(1,420)		—		1,196
	$	1,458,242	$	(1,769)	$	1,456,473	$	(1,457,153)	$	—	$	(680)

Schedule of contractual maturities of repurchase agreements and secured borrowing transactions

The following tables present the remaining contractual maturities of repurchase agreement and securities lending transactions accounted for as secured borrowings (in thousands). The Company had no repurchase-to-maturity transactions outstanding at both March 31, 2016 and December 31, 2015.

	Remaining Contractual Maturities
	Overnight and						Greater Than
March 31, 2016	Continuous		Up to 30 Days		30-90 Days		90 Days		Total
Repurchase agreement transactions:
U.S. Treasury and agency securities	$	232,974	$	87,047	$	—	$	—	$	320,021
Securities lending transactions:
Corporate securities		11,582		—		—		—		11,582
Equity securities		1,210,928		—		—		—		1,210,928
Other		12		—		—		—		12
Total	$	1,455,496	$	87,047	$	—	$	—	$	1,542,543
Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above									$	1,542,543
Amount related to agreements not included in offsetting disclosure above									$	—
	Remaining Contractual Maturities
	Overnight and						Greater Than
December 31, 2015	Continuous		Up to 30 Days		30-90 Days		90 Days		Total
Repurchase agreement transactions:
U.S. Treasury and agency securities	$	201,090	$	16,658	$	—	$	—	$	217,748
Securities lending transactions:
U.S. Treasury and agency securities		12,646		—		—		—		12,646
Corporate securities		5,993		—		—		—		5,993
Equity securities		1,216,827		—		—		—		1,216,827
Total	$	1,436,556	$	16,658	$	—	$	—	$	1,453,214
Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above									$	1,453,214
Amount related to agreements not included in offsetting disclosure above									$	—