Borrowed Funds (Tables)

9 Months Ended

Sep. 30, 2016

Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at September 30, 2016 and December 31, 2015:

(in thousands)	September 30, 2016		December 31, 2015
Wholesale Borrowings:
FHLB advances	$	11,583,000	$	13,463,800
Repurchase agreements		1,500,000		1,500,000
Fed funds purchased		560,000		426,000
Total wholesale borrowings	$	13,643,000	$	15,389,800
Junior subordinated debentures		358,809		358,605
Total borrowed funds	$	14,001,809	$	15,748,405

Summary of Repurchase Agreements Accounted for Secured Borrowings

The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at September 30, 2016:

	Remaining Contractual Maturity of the Agreements
(in thousands)	Overnight and Continuous		Up to 30 Days		30–90 Days		Greater than 90 Days
GSE debentures and mortgage-related securities	$	—	$	—	$	—	$	1,500,000

Junior Subordinated Debentures Outstanding

The following junior subordinated debentures were outstanding at September 30, 2016:

Issuer	Interest Rate of Capital Securities and Debentures			Junior Subordinated Debentures Amount Outstanding		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	%	$	144,883	$	138,532		Nov. 4, 2002		Nov. 1, 2051		Nov. 4, 2007 (1)
New York Community Capital Trust X		2.450			123,712		120,000		Dec. 14, 2006		Dec. 15, 2036		Dec. 15, 2011 (2)
PennFed Capital Trust III		4.100			30,928		30,000		June 2, 2003		June 15, 2033		June 15, 2008 (2)
New York Community Capital Trust XI		2.488			59,286		57,500		April 16, 2007		June 30, 2037		June 30, 2012 (2)
Total junior subordinated debentures				$	358,809	$	346,032

(1) Callable subject to certain conditions as described in the prospectus filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 4, 2002.

(2) Callable from this date forward.