7. Receivables from and Payables to Others

Amounts Receivable from and Payable to Others consist of the following:

(In thousands of dollars)	March 31, 2013		December 31, 2012
Principal paydowns — Agency mortgage-backed securities	$	5,354	$	5,744
Interest receivable	2,211		4,370
Loans and advances	294		234
Management fees receivable	198		189
Investment banking and advisory fees receivable	155		144
Others	1,866		1,882
Total receivables from others	$	10,078	$	12,563
Payable to employees for the Employee Investment Funds (Refer to Note 10)	$	971	$	941
Draft payables	1,068		133
Others	645		1,177
Total payables to others	$	2,684	$	2,251

The Company maintains a group of “zero balance” bank accounts which are included in Payable to others on the Consolidated Statements of Financial Condition. Drafts payable represent the balance in these accounts related to outstanding checks that have not yet been presented for payment at the bank. The Company has sufficient funds on deposit to clear these checks, and these funds will be transferred to the “zero-balance” accounts upon presentment.