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OFFSETTING OF SECURITIES FINANCING AGREEMENTS | 12 Months Ended
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Jun. 30, 2022
Offsetting [Abstract] |
OFFSETTING OF SECURITIES FINANCING AGREEMENTS | OFFSETTING OF SECURITIES FINANCING AGREEMENTS The Company enters into securities borrowed and securities loaned transactions. The Company executes these transactions to facilitate customer match-book activity, cover short positions and customer securities lending. The Company manages credit exposure from certain transactions by entering into master securities lending agreements. The relevant agreements allow for the efficient closeout of transactions, liquidation and set-off of collateral against the net amount owed by the counterparty following a default. Default events generally include, among other things, failure to pay, insolvency or bankruptcy of a counterparty. The following table presents information about the offsetting of these instruments and related collateral amounts as of:
| June 30, 2022
(Dollars in thousands) | Gross Assets / Liabilities |  | Amounts Offset |  | Net Balance Sheet Amount |  | Financial Collateral |  | Net Assets / Liabilities
Assets: |  |  |  |  |  |  |  |  |
Securities borrowed | $ | 338,980 |  |  | $ | — |  |  | $ | 338,980 |  |  | $ | 338,980 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |
Securities loaned | $ | 474,400 |  |  | $ | — |  |  | $ | 474,400 |  |  | $ | 474,400 |  |  | $ | — |
| June 30, 2021
(Dollars in thousands) | Gross Assets / Liabilities |  | Amounts Offset |  | Net Balance Sheet Amount |  | Financial Collateral |  | Net Assets / Liabilities
Assets: |  |  |  |  |  |  |  |  |
Securities borrowed | $ | 619,088 |  |  | $ | — |  |  | $ | 619,088 |  |  | $ | 619,088 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |
Securities loaned | $ | 728,988 |  |  | $ | — |  |  | $ | 728,988 |  |  | $ | 728,988 |  |  | $ | — |
The securities loaned transactions represent equities with an overnight and open maturity classification.

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