	December 31,
	2014		2013
	(In thousands)
Cash pledged as collateral to other financial institutions to secure:
Securities sold under agreements to repurchase	$	-	$	67,029
Derivatives		2,980		2,980
Obligations under agreement of loans sold with recourse		5,427		12,190
	$	8,407	$	82,199

At December 31, 2014, OIB and Oriental Overseas, each, held unencumbered certificates of deposit in the amount of $300 thousand as the legal reserve required for international banking entities under Puerto Rico law. Each certificate of deposit cannot be withdrawn by OIB or Oriental Overseas without the OCFI's prior written approval.

The Company delivers cash as collateral to meet margin calls for some long term securities sold under agreements to repurchase. At December 31, 2014 there was no cash pledged as collateral. At December 31, 2013, the Company had cash pledged as collateral for securities sold under agreements to repurchase amounting to $67.0 million.

As part of its derivative activities, the Company has entered into collateral agreements with certain financial counterparties. At both December 31, 2014 and 2013, the Company had delivered $3.0 million of cash as collateral for such derivatives activities.

The Company's bank subsidiary, Oriental Bank, is required by law to maintain average weekly reserve balances to cover demand deposits. The amount of those minimum average reserve balances for the week that covered December 31, 2014 was $141.5 million (December 31, 2013 - $27.5 million). As of December 31, 2014 and 2013, the Bank complied with the requirement. Cash and due from bank as well as other short-term, highly liquid securities are used to cover the required average reserve balances.