SECURED BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2020

Disclosure Of Repurchase Agreements [Abstract]

Schedule of Secured Borrowings

Secured borrowings (and related pledged collateral, including accrued interest receivable), classified by collateral type and remaining maturities, and related weighted average borrowing rates as of the indicated dates were as follows (dollars in thousands):

Collateral Type	Agency Securities Pledged		Accrued Interest Receivable		Cash Pledged		Borrowings Outstanding		Average Borrowing Rates
March 31, 2020
Borrowings under repurchase arrangements    with maturities of 30 days or less	$	4,879,606	$	13,875	$	59,471	$	4,654,152		1.08	%
Borrowings under repurchase arrangements     with maturities of 31 to 90 days		3,517,414		10,818		299,697		3,724,378		1.40
Similar borrowings secured by    collateral for structured financings		892	–		–			892		7.86
	$	8,497,912	$	24,693	$	359,168	$	8,379,422		1.22
December 31, 2019
Borrowings under repurchase arrangements    with maturities of 30 days or less	$	9,484,275	$	27,826	$	–	$	9,002,527		2.12	%
Borrowings under repurchase arrangements     with maturities of 31 to 90 days		1,344,437		3,742	–			1,271,971		1.98
Similar borrowings secured by    collateral for structured financings		915	–		–			915		7.99
	$	10,829,627	$	31,568	$	–	$	10,275,413		2.10