Offsetting Assets and Liabilties

9 Months Ended

Sep. 30, 2015

Offsetting Assets And Liabilities [Abstract]

Offsetting Assets and Liabilities [Text Block]

NOTE 5. OFFSETTING ASSETS AND LIABILITIES

The Company’s derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis.

The following table presents information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of September 30, 2015 and December 31, 2014.

(in thousands)

Offsetting of Assets

Gross Amount Not Offset

in the Balance Sheet

Net Amount

Financial

Gross Amount

Gross Amount

of Assets

Instruments

Cash

of Recognized

Offset in the

Presented in the

Received as

Received as

Net

Assets

Balance Sheet

Balance Sheet

Collateral

Collateral

Amount

December 31, 2014

Derivative asset - Payer swaption

$

1,217

$

-

$

1,217

$

-

$

(1,217)

$

-

(in thousands)
Offsetting of Liabilities
							Gross Amount Not Offset
							in the Balance Sheet
					Net Amount		Financial
	Gross Amount		Gross Amount		of Liabilities		Instruments
	of Recognized		Offset in the		Presented in the		Posted as		Cash Posted		Net
	Liabilities		Balance Sheet		Balance Sheet		Collateral		Collateral		Amount
September 30, 2015
Repurchase Agreements	$	1,943,299	$	-	$	1,943,299	$	(1,941,253)	$	(2,046)	$	-
December 31, 2014
Repurchase Agreements	$	1,436,651	$	-	$	1,436,651	$	(1,434,035)	$	(2,616)	$	-

The amounts disclosed for collateral received by or posted to the same counterparty up to and not exceeding the net amount of the asset or liability presented in the balance sheet. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Notes 3 and 4 for a discussion of collateral posted or received against or for repurchase obligations and derivative instruments.