Resale and Repurchase Agreements

12 Months Ended

Dec. 31, 2011

Resale and Repurchase Agreements

Resale and Repurchase Agreements

NOTE 5. Resale and Repurchase Agreements

        At December 31, 2011 and 2010, the fair value of financial instruments held as collateral by the Company that it was permitted to deliver or repledge in connection with resale agreements was approximately $1.5 billion and $86.8 million, respectively, of which $1.5 billion was repledged in the form of repurchase agreements at December 31, 2011.

        The following table provides detail on the composition of the outstanding repurchase agreements at December 31, 2011:

(In thousands)	Overnight		On Demand		Total
Collateral Type
U.S. Government and federal agency obligations	$	1,204,641	$	273,440	$	1,478,081

        The Company had no outstanding repurchase agreements at December 31, 2010.