OTHER BORROWINGS

The following table details the components of other borrowings:



	March 31, 2015			September 30, 2014
	(in thousands)
Other borrowings:
FHLB advances	$	550,000	⁽¹⁾	$	500,000	⁽²⁾
Borrowings on secured lines of credit ⁽³⁾	171,600			154,700
Borrowings on ClariVest revolving credit facility ⁽⁴⁾	116			216
Borrowings on unsecured lines of credit ⁽⁵⁾	—			—
Total other borrowings	$	721,716		$	654,916

(1)

Borrowings from the FHLB as of March 31, 2015 are comprised of two floating-rate advances. One FHLB advance in the amount of $250 million, matures in September 2017, and has an interest rate which resets monthly. RJ Bank has the option to prepay this advance on each interest reset date without penalty. The other FHLB advance, in the amount of $300 million, matures in March 2017 and has an interest rate which resets quarterly. We use interest rate swaps to manage the risk of increases in interest rates associated with this floating-rate advance by converting a portion of the variable interest rate to a fixed interest rate. Refer to Note 12 for information regarding these interest rate swaps which are accounted for as hedging instruments. Both of the FHLB advances are secured by a blanket lien granted to the FHLB on RJ Bank’s residential mortgage loan portfolio. The weighted average interest rate on these advances is 0.27%.

(2)

Borrowings from the FHLB as of September 30, 2014 are comprised of two $250 million floating-rate advances. The weighted average interest rate on these advances is 0.20%. These advances are secured by a blanket lien granted to the FHLB on RJ Bank’s residential mortgage loan portfolio and mature in September, 2017. The interest rate resets on a monthly basis for one of the advances and a quarterly basis for the other. RJ Bank has the option to prepay each advance without penalty on each interest reset date.


(3)	Other than a $5 million borrowing outstanding on the Regions Credit Facility (as hereinafter defined) as of both March 31, 2015 and September 30, 2014, any borrowings on secured lines of credit are day-to-day and are generally utilized to finance certain fixed income securities.

As of both March 31, 2015 and September 30, 2014, a subsidiary of RJF (the “Borrower”) is a party to a Revolving Credit Agreement (the “Regions Credit Facility”) with Regions Bank. The Regions Credit Facility provides for a revolving line of credit and is subject to a guarantee in favor of Regions Bank provided by RJF. The proceeds from any borrowings under the line are used for working capital and general corporate purposes. The obligations under the Regions Credit Facility are secured by, subject to certain exceptions, all of the present and future ARS owned by the Borrower (the “Pledged ARS”). The amount of any borrowing under the Regions Credit Facility cannot exceed the lesser of 70% of the value of the Pledged ARS, or $100 million. The maximum amount available to borrow was $91 million and the outstanding borrowings were $5 million as of March 31, 2015. The Regions Credit Facility bears interest at a variable rate which is 2.75% over LIBOR. On April 2, 2015, the Regions Credit Facility expired, was not renewed, and the outstanding balance was paid to the Lender.

(4)

The outstanding balance on the revolving line of credit provided to ClariVest Asset Management, LLC (“ClariVest”), a subsidiary of Eagle, by a third party lender (the “ClariVest Facility”). The maximum amount available to borrow under ClariVest Facility is $500 thousand, bearing interest at a variable rate which is 1% over the lenders prime rate. The ClariVest Facility expires on September 10, 2018.


(5)	Any borrowings on unsecured lines of credit are day-to-day and are generally utilized for cash management purposes.

There were other collateralized financings outstanding in the amount of $277 million and $244 million as of March 31, 2015 and September 30, 2014, respectively. These other collateralized financings are included in securities sold under agreements to repurchase on the Condensed Consolidated Statements of Financial Condition. These financings are collateralized by non-customer, RJ&A-owned securities. See Note 13 for additional information regarding offsetting asset and liability balances as well as additional information regarding the collateral.