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Borrowed Funds (Tables)
 6 Months Ended
Jun. 30, 2011
Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at June 30, 2011 and December 31, 2010:

 

(in thousands)    June 30,
2011		      December 31,
2010		  

FHLB advances

    $ 7,856,912       $ 8,375,659   

Repurchase agreements

      4,125,000         4,125,000   

Junior subordinated debentures

      426,846         426,992   

Senior notes

      601,926         601,865   

Preferred stock of subsidiaries

      6,600         6,600   
  

 

 

     

 

 

  

Total borrowed funds

    $ 13,017,284       $ 13,536,116   
  

 

 

     

 

 

  
Junior Subordinated Debentures Outstanding

The following table provides a summary of the outstanding capital securities issued by each trust and the carrying amounts of the junior subordinated debentures issued by the Company to each trust as of June 30, 2011:

 

Issuer

    Interest Rate of
Capital Securities
and Debentures		     Junior
Subordinated
Debenture
Carrying
Amount		      Capital
Securities
Amount
Outstanding		      Date of
Original Issue		    Stated Maturity    First Optional
Redemption Date
           (dollars in thousands)                 

Haven Capital Trust II

      10.250 %    $ 23,333       $ 22,550       May 26, 1999    June 30, 2029    June 30, 2009(1)

Queens County Capital Trust I

      11.045        10,309         10,000       July 26, 2000    July 19, 2030    July 19, 2010(2)

Queens Statutory Trust I

      10.600        15,464         15,000       September 7, 2000    September 7, 2030    September 7, 2010(1)

New York Community Capital Trust V

      6.000        143,710         137,359       November 4, 2002    November 1, 2051    November 4, 2007(2)

New York Community Capital Trust X

      1.847        123,712         120,000       December 14, 2006    December 15, 2036    December 15, 2011(3)

LIF Statutory Trust I

      10.600        7,732         7,500       September 7, 2000    September 7, 2030    September 7, 2010(1)

PennFed Capital Trust II

      10.180        12,372         12,000       March 28, 2001    June 8, 2031    June 8, 2011(1)

PennFed Capital Trust III

      3.497        30,928         30,000       June 2, 2003    June 15, 2033    June 15, 2008(3)

New York Community Capital Trust XI

      1.896        59,286         57,500       April 16, 2007    June 30, 2037    June 30, 2012(3)
    

 

 

     

 

 

           
     $ 426,846       $ 411,909            
    

 

 

     

 

 

           

 

(1) Callable at a premium from this date forward.
(2) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.
(3) Callable from this date forward.