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Borrowed Funds (Tables)
 6 Months Ended
Jun. 30, 2017
Summary of Borrowed Funds

The following table summarizes the Company’s borrowed funds at the dates indicated:

 

(in thousands)    June 30,
2017		      December 31,
2016		  

Wholesale Borrowings:

      

FHLB advances

    $ 11,554,500      $ 11,664,500  

Repurchase agreements

      450,000        1,500,000  

Federal funds purchased

      —          150,000  
  

 

 

     

 

 

  

Total wholesale borrowings

    $ 12,004,500      $ 13,314,500  

Junior subordinated debentures

      359,026        358,879  
  

 

 

     

 

 

  

Total borrowed funds

    $ 12,363,526      $ 13,673,379  
  

 

 

     

 

 

  

 
Summary of Repurchase Agreements Accounted for Secured Borrowings

The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at June 30, 2017:

 

     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

    $ —        $ —        $ —        $ 450,000  
  

 

 

     

 

 

     

 

 

     

 

 

  

 
Junior Subordinated Debentures Outstanding

The following junior subordinated debentures were outstanding at June 30, 2017:

 

(dollars in thousands)

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		  

New York Community Capital Trust V (BONUSESSM Units)

      6.000 %    $ 145,100      $ 138,749        Nov. 4, 2002        Nov. 1, 2051        Nov. 4, 2007  (1) 

New York Community Capital Trust X

      2.846       123,712        120,000        Dec. 14, 2006        Dec. 15, 2036        Dec. 15, 2011  (2) 

PennFed Capital Trust III

      4.496       30,928        30,000        June 2, 2003        June 15, 2033        June 15, 2008  (2) 

New York Community Capital Trust XI

      2.946       59,286        57,500        April 16, 2007        June 30, 2037        June 30, 2012  (2) 
    

 

 

     

 

 

           

Total junior subordinated debentures

      $ 359,026      $ 346,249           
    

 

 

     

 

 

           

 

(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.