OFFSETTING ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2014

As of March 31, 2014

Offsetting of Financial Assets and Derivative Assets

					Net amounts of		Gross amounts not offset in the balance
			Gross amounts		assets presented		sheet
Description	Gross amounts of recognized assets		offset in the balance sheet		in the balance sheet		Financial instruments		Cash collateral received/(posted)(1)		Net amount

Derivatives	$	838,922	$	—	$	838,922	$	—	$	—	$	838,922
Total	$	838,922	$	—	$	838,922	$	—	$	—	$	838,922

As of December 31, 2013

Offsetting of Financial Assets and Derivative Assets

					Net amounts of		Gross amounts not offset in the balance
			Gross amounts		assets presented		sheet
Description	Gross amounts of recognized assets		offset in the balance sheet		in the balance sheet		Financial instruments		Cash collateral received/(posted)(1)		Net amount

Derivatives	$	8,244,355	$	—	$	8,244,355	$	—	$	—	$	8,244,355
Total	$	8,244,355	$	—	$	8,244,355	$	—	$	—	$	8,244,355

(1) Included in cash collateral held by broker on consolidated balance sheets.

As of March 31, 2014

Offsetting of Financial Liabilities and Derivative Liabilities

							Gross amounts not offset in the balance
					Net amounts of		sheet
Description	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheet		liabilities presented in the balance sheet		Financial instruments collateral		Cash collateral posted/(received)(1)		Net amount

Derivatives	$	10,411,959	$	—	$	10,411,959	$	—	$	10,411,959	$	—
Repurchase agreements	370,970,039		—		370,970,039		370,970,039		—		—
Total	$	381,381,998	$	—	$	381,381,998	$	370,970,039	$	10,411,959	$	—

As of December 31, 2013

Offsetting of Financial Liabilities and Derivative Liabilities

							Gross amounts not offset in the balance
					Net amounts of		sheet
Description	Gross amounts of recognized liabilities		Gross amounts offset in the balance sheet		liabilities presented in the balance sheet		Financial instruments collateral		Cash collateral posted/(received)(1)		Net amount

Derivatives	$	7,031,033	$	—	$	7,031,033	$	—	$	7,031,033	$	—
Repurchase agreements	609,834,793		—		609,834,793		609,834,793		—		—
Total	$	616,865,826	$	—	$	616,865,826	$	609,834,793	$	7,031,033	$	—

(1) Included in cash collateral held by broker on consolidated balance sheets.