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Balance Sheet Offsetting (Tables)
6 Months Ended
Jun. 30, 2020
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

June 30, 2020

Securities borrowed:

Institutional counterparties

$

1,112,826

$

$

1,112,826

$

(1,070,763)

$

$

42,063

Reverse repurchase agreements:

Institutional counterparties

161,457

161,457

(160,658)

799

Forward MBS derivatives:

Institutional counterparties

 

15,779

 

 

15,779

 

(15,779)

 

 

$

1,290,062

$

$

1,290,062

$

(1,247,200)

$

$

42,862

December 31, 2019

Securities borrowed:

Institutional counterparties

$

1,634,782

$

$

1,634,782

$

(1,586,820)

$

$

47,962

Reverse repurchase agreements:

Institutional counterparties

59,031

59,031

(58,619)

412

Forward MBS derivatives:

Institutional counterparties

3,640

3,640

(3,640)

$

1,697,453

$

$

1,697,453

$

(1,649,079)

$

$

48,374

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

June 30, 2020

Securities loaned:

Institutional counterparties

$

982,070

$

$

982,070

$

(948,012)

$

$

34,058

Interest rate swaps:

Institutional counterparties

 

2,147

 

 

2,147

 

(1,946)

 

 

201

Repurchase agreements:

Institutional counterparties

 

347,344

 

 

347,344

 

(347,344)

 

 

Customer counterparties

 

4,806

 

 

4,806

 

(4,806)

 

 

Forward MBS derivatives:

Institutional counterparties

 

20,824

 

(211)

 

20,613

 

(928)

 

 

19,685

$

1,357,191

$

(211)

$

1,356,980

$

(1,303,036)

$

$

53,944

December 31, 2019

Securities loaned:

Institutional counterparties

$

1,555,964

$

$

1,555,964

$

(1,509,933)

$

$

46,031

Interest rate swaps:

Institutional counterparties

178

 

 

178

 

(112)

 

 

66

Repurchase agreements:

Institutional counterparties

 

586,651

 

 

586,651

 

(586,651)

 

 

Customer counterparties

25,474

 

 

25,474

 

(25,474)

 

 

Forward MBS derivatives:

Institutional counterparties

 

6,890

 

(667)

 

6,223

 

(2,384)

 

 

3,839

$

2,175,157

$

(667)

$

2,174,490

$

(2,124,554)

$

$

49,936

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 June 30, 2020 and December 31, 2019.

Remaining Contractual Maturities

Overnight and

Greater Than

June 30, 2020

Continuous

Up to 30 Days

30-90 Days

90 Days

Total

Repurchase agreement transactions:

U.S. Treasury and agency securities

$

4,806

$

46,260

$

46,061

$

$

97,127

Asset-backed securities

159,092

55,057

40,874

255,023

Securities lending transactions:

Corporate securities

113

113

Equity securities

981,957

981,957

Total

$

1,145,968

$

101,317

$

86,935

$

$

1,334,220

Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above

$

1,334,220

Amount related to agreements not included in offsetting disclosure above

$

Remaining Contractual Maturities

Overnight and

Greater Than

December 31, 2019

Continuous

Up to 30 Days

30-90 Days

90 Days

Total

Repurchase agreement transactions:

U.S. Treasury and agency securities

$

45,950

$

$

$

$

45,950

Asset-backed securities

257,396

12,892

295,887

566,175

Securities lending transactions:

Corporate securities

120

120

Equity securities

1,555,844

1,555,844

Total

$

1,859,310

$

12,892

$

295,887

$

$

2,168,089

Gross amount of recognized liabilities for repurchase agreement and securities lending transactions in offsetting disclosure above

$

2,168,089

Amount related to agreements not included in offsetting disclosure above

$