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Borrowed Funds (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Borrowed Funds

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

(in thousands)		March 31, 2019				December 31, 2018
Wholesale Borrowings:
FHLB advances		$	11,803,661			$	13,053,661
Repurchase agreements			800,000				500,000
Total wholesale borrowings		$	12,603,661			$	13,553,661
Junior subordinated debentures			359,594				359,508
Subordinated notes			294,655				294,697
Total borrowed funds		$	13,257,910			$	14,207,866

Summary of Repurchase Agreements Accounted for Secured Borrowings

The following table summarizes the Company’s repurchase agreements accounted for as secured borrowings at March 31, 2019:
 

		Remaining Contractual Maturity of the Agreements
(in thousands)		Overnight and Continuous				Up to 30 Days				30–90 Days				Greater than 90 Days
GSE obligations		$	—			$	—			$	—			$	800,000

Junior Subordinated Debentures Outstanding

The following junior subordinated debentures were outstanding at March 31, 2019:

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	%		$	145,668			$	139,317				Nov. 4, 2002				Nov. 1, 2051				Nov. 4, 2007 (1)
New York Community Capital Trust X			4.202				123,712				120,000				Dec. 14, 2006				Dec. 15, 2036				Dec. 15, 2011 (2)
PennFed Capital Trust III			5.861				30,928				30,000				June 2, 2003				June 15, 2033				June 15, 2008 (2)
New York Community Capital Trust XI			4.242				59,286				57,500				April 16, 2007				June 30, 2037				June 30, 2012 (2)
Total junior subordinated debentures						$	359,594			$	346,817

(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.

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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- Definition

Tabular disclosure of the nature and risks of short-term collateralized financing obtained through repurchase agreements, securities lending transactions and repurchase-to-maturity transactions, accounted for as secured borrowings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-SubTopic 30
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109249958&loc=SL34722452-111729

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