Securities Sold Under Agreements to Repurchase

9 Months Ended

Sep. 30, 2019

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

5.          Securities Sold Under Agreements to Repurchase

The Company enters into agreements to repurchase from time to time to facilitate the clearance of securities.

At September 30, 2019, securities sold from agreements to repurchase amounted to $24.9 million and related to an overnight repurchase agreement with a maturity date of October 1, 2019.

The following table provides additional information regarding this agreement to repurchase (in thousands):

	September 30,		December 31,
	2019		2018
Agreements to repurchase:
U.S. Treasury Note	$	24,938	$	—
Total agreements to repurchase	$	24,938	$	—
Gross amount of recognized liabilities for agreements to repurchase	$	24,938	$	—

Securities sold under agreements to repurchase are treated as collateralized financings and are presented on the consolidated statement of financial condition at the amounts of cash received, which approximates fair value.  Receivables and payables arising from these agreements are not offset on the statement of financial condition.