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GOVERNMENT AND GOVERNMENT-BACKED SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Agency and Treasury Securities by Designation and Purchases and Sales of Agency and Treasury Securities The following tables summarize Agency and Treasury securities by designation:
June 30, 2024December 31, 2023
Gross UnrealizedWeighted Average(As Restated)
Outstanding Face AmountGainsLosses
Carrying Value(A)
Number of SecuritiesCouponYield
Life (Years)(B)
Carrying
Value(A)
Securities designated as available for sale (“AFS”):
Agency(C)
$71,981 $— $— $62,998 1 3.5 %3.5 %10.7$65,496 
Securities measured at fair value through net income:
Agency(C)
9,489,312 3,291 (66,040)9,237,239 46 5.1 %5.2 %8.78,467,634 
Total/Weighted Average$9,561,293 $3,291 $(66,040)$9,300,237 47 5.6 %8.0 %8.6$8,533,130 
(A)Fair value is equal to the carrying value for all securities. See Note 19 regarding the fair value measurements.
(B)Based on the timing of expected principal reduction on the assets.
(C)All fixed-rate as of June 30, 2024.
The following table summarizes purchases and sales of Agency and Treasury securities:
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
(in millions)
Treasury(A)
Agency
Treasury(A)
Agency
Treasury(A)
AgencyTreasuryAgency
Purchases
Face$25.0 $— $1,000.0 $— $4,825.0 $1,287.0 $1,000.0 $2,162.4 
Purchase price24.7 — 973.8 — 4,798.6 1,255.9 973.8 2,154.4 
Sales
Face$3,000.0 $— $— $— $3,000.0 $— $— $1,462.4 
Amortized cost2,976.3 — — — 2,976.3 — — 1,442.8 
Sale price2,957.5 — — — 2,957.5 — — 1,395.9 
Realized gain (loss)(18.8)— — — (18.8)— — (46.9)
(A)Excludes treasury short sales. Refer to Note 17 for information regarding short sales.
Schedule of Agency and Treasury Securities, Held to Maturity
June 30, 2024December 31, 2023
Weighted Average
Outstanding Face AmountAmortized Cost / Carrying ValueFair ValueUnrecognized Gains/(Losses)Number of SecuritiesYieldLife (Years)Carrying
Value
Treasury Bills Designated as Held to Maturity (HTM):
Treasury$25,000 $24,860 $24,861  $1 2 5.4 %0.1$24,553