Other Liabilities

The following table shows the components of other liabilities as of the dates indicated:



(In thousands)	March 31, 2018		December 31, 2017
Current federal income taxes	$	133,500	$	96,740
Deferred ceding commission	89,710		89,907
Amount payable on the return of cash collateral under securities lending agreements	39,077		19,357
Accrued compensation	32,069		67,687
FHLB advances	25,550		—
Other	92,887		80,154
Total other liabilities	$	412,793	$	353,845

FHLB Advances

In August 2016, Radian Guaranty and Radian Reinsurance became members of the FHLB. As members, they may borrow from the FHLB, subject to certain conditions, which include the need to post collateral and the requirement to maintain a minimum investment in FHLB stock, in part depending on the level of their outstanding FHLB advances. These FHLB advances may be used to provide low-cost, supplemental liquidity for various purposes, including to fund incremental investments.

As of March 31, 2018, we had $25.6 million of fixed-rate advances outstanding with a weighted average interest rate of 2.08%. Interest on the FHLB advances is payable quarterly, or at maturity if the term of the advance is less than 90 days. As of March 31, 2018, $19.0 million of the FHLB advances mature in 2018 and $6.6 million mature in 2019. Principal is due at maturity. For obligations with maturities greater than or equal to 90 days, we may prepay the debt at any time, subject to a prepayment fee calculation.

The FHLB advances are required to be collateralized by eligible assets whose market value must be maintained at a minimum of approximately 103% to 105% of the principal balance of the FHLB advances, based on the eligible collateral we have provided at March 31, 2018, which consisted of an aggregate amount of $28.1 million in U.S. government and agency securities and RMBS from fixed-maturities available for sale within our investment securities portfolio.

Amount Payable on the Return of Cash Collateral under Securities Lending Agreements

We participate in a securities lending program whereby we loan certain securities in our investment portfolio to Borrowers for short periods of time. These securities lending agreements, whereby we transfer securities to third parties through an intermediary in exchange for cash or other securities, are considered collateralized financing arrangements. Amounts payable on the return of cash collateral under securities lending agreements are classified as other liabilities in our condensed consolidated balance sheets. See Note 5 for additional information.

Revolving Credit Facility

On October 16, 2017, Radian Group entered into a three-year, $225 million unsecured revolving credit facility with a syndicate of bank lenders. Terms of the credit facility include an option to increase the amount during the term of the agreement, subject to our obtaining the necessary increased commitments from the lenders, up to a total of $300 million. Borrowings under the credit facility may be used for working capital and general corporate purposes, including, without limitation, capital contributions to Radian Group’s insurance and reinsurance subsidiaries as well as growth initiatives.

The credit facility contains customary representations, warranties, covenants, terms and conditions. Our ability to borrow under the credit facility is conditioned on the satisfaction of certain financial and other covenants, including covenants related to minimum net worth and statutory surplus, a maximum debt-to-capitalization level, limits on certain types of indebtedness and liens, minimum liquidity levels and Radian Guaranty’s eligibility as a private mortgage insurer with the GSEs. See Note 12 of Notes to Consolidated Financial Statements in our 2017 Form 10-K. At March 31, 2018, Radian Group was in compliance with all the covenants, although there were no amounts outstanding under this revolving credit facility.