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Borrowed Funds (Tables)
 6 Months Ended
Jun. 30, 2012
Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at June 30, 2012 and December 31, 2011:

 

(in thousands)        June 30,    
2012		     December 31, 
2011

FHLB advances

       $ 7,847,283        $ 9,314,193  

Repurchase agreements

        4,125,000          4,125,000  

Fed funds purchased

        185,000          --  

Junior subordinated debentures

        427,029          426,936  

Senior notes

        --          89,984  

Preferred stock of subsidiaries

        4,300          4,300  
    

 

 

       

 

 

  

Total borrowed funds

       $ 12,588,612        $ 13,960,413  
    

 

 

       

 

 

  
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, 2012:

 

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               143,893          137,542      November 4, 2002   November 1, 2051   November 4, 2007 (2)

New York Community Capital Trust X

       2.074               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

       3.718               30,928          30,000      June 2, 2003   June 15, 2033   June 15, 2008 (3)

New York Community Capital Trust XI

       2.111               59,286          57,500      April 16, 2007   June 30, 2037   June 30, 2012 (3)
       

 

 

      

 

 

        
        $ 427,029        $ 412,092         
       

 

 

      

 

 

        

 

(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.