Borrowed Funds (Tables)

6 Months Ended

Jun. 30, 2013

Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at June 30, 2013 and December 31, 2012:

(in thousands)	June 30, 2013			December 31, 2012
Wholesale borrowings:
FHLB advances		$	9,104,698		$	8,842,974
Repurchase agreements			3,425,000			4,125,000
Fed funds purchased			100,000			100,000
Total wholesale borrowings		$	12,629,698		$	13,067,974
Junior subordinated debentures			358,019			357,917
Preferred stock of subsidiaries			4,300			4,300
Total borrowed funds		$	12,992,017		$	13,430,191

Junior Subordinated Debentures Outstanding

The following junior subordinated debentures were outstanding at June 30, 2013:

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)
New York Community Capital Trust V (BONUSESSM Units)		6.000	%		$144,093		$137,742	Nov. 4, 2002	Nov. 1, 2051	Nov. 4, 2007 (1)
New York Community Capital Trust X		1.873			123,712		120,000	Dec. 14, 2006	Dec. 15, 2036	Dec. 15, 2011(2)
PennFed Capital Trust III		3.523			30,928		30,000	June 2, 2003	June 15, 2033	June 15, 2008  (2)
New York Community Capital Trust XI		1.924			59,286		57,500	April 16, 2007	June 30, 2037	June 30, 2012  (2)
Total junior subordinated debentures					$358,019		$345,242

(1) Callable subject to certain conditions as described in the prospectus filed with the SEC on November 4, 2002.

(2) Callable from this date forward.