XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Securities Sold Under Agreements to Repurchase | 9 Months Ended
--- | ---
Sep. 30, 2022
Federal Funds Purchased And Securities Sold Under Agreements To Repurchase [Abstract] |
Securities Sold Under Agreements to Repurchase | 7. Securities Sold Under Agreements to Repurchase The Company enters into sales of securities with simultaneous agreements to repurchase (repurchase agreements). The Company utilizes repurchase agreements to facilitate the needs of customers and to facilitate secured short-term funding needs. Repurchase agreements are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis and may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents. The table below presents the remaining contractual maturities of repurchase agreements outstanding at September 30, 2022 and December 31, 2021, in addition to the various types of marketable securities that have been pledged as collateral for these borrowings (in thousands):
|  | As of September 30, 2022 |
|  | Remaining Contractual Maturities of the Agreements |
|  | 2-29 Days |  |  | 30-90 Days |  |  | Over 90 Days |  |  | Total |
Repurchase agreements, secured by: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury |  | $ | 259,082 |  |  | $ | — |  |  | $ | — |  |  | $ | 259,082 |
U.S. Agencies |  |  | 1,698,034 |  |  |  | 301,112 |  |  |  | 1,500 |  |  |  | 2,000,646 |
Total repurchase agreements |  | $ | 1,957,116 |  |  | $ | 301,112 |  |  | $ | 1,500 |  |  | $ | 2,259,728 |
|  | As of December 31, 2021 |
|  | Remaining Contractual Maturities of the Agreements |
|  | 2-29 Days |  |  | 30-90 Days |  |  | Over 90 Days |  |  | Total |
Repurchase agreements, secured by: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Agencies |  | $ | 2,820,788 |  |  | $ | 404,800 |  |  | $ | 250 |  |  | $ | 3,225,838 |
Total repurchase agreements |  | $ | 2,820,788 |  |  | $ | 404,800 |  |  | $ | 250 |  |  | $ | 3,225,838 |

X
- References No definition available. + Details
Name: | us-gaap_FederalFundsPurchasedAndSecuritiesSoldUnderAgreementsToRepurchaseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI https://asc.fasb.org/topic&trid=2197590 + Details
Name: | us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration