v3.19.1

Counterparty Risk (Tables) | 3 Months Ended
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Mar. 31, 2019
Risks and Uncertainties [Abstract] |
Schedules of Exposure to Counterparty Risk | The following table summarizes the Company's exposure to counterparty risk as of March 31, 2019.
|  | Amount of Exposure |  | Number of Counterparties with Exposure |  | Maximum Percentage of Exposure to a Single Counterparty(1)
|  | (In thousands) |  |  |  |
Cash and cash equivalents |  | $ | 55,876 |  |  | 7 |  |  | 55.9 | %
Collateral on repurchase agreements held by dealers(2) |  | 1,864,614 |  |  | 25 |  |  | 16.0 | %
Due from brokers |  | 58,145 |  |  | 17 |  |  | 24.9 | %
Receivable for securities sold(3) |  | 40,489 |  |  | 6 |  |  | 29.7 | %
(1) | Each counterparty is a large creditworthy financial institution.
(2) | Includes securities and loans as well as cash posted as collateral for repurchase agreements.
(3) | Included in Investment related receivables on the Condensed Consolidated Balance Sheet.
Schedule Of Percentage Of Total Collateral On Reverse Repurchase Agreements [Table Text Block] | The following table details the percentage of such collateral held by counterparties who hold greater than 15% of the aggregate $1.79 billion in collateral for various reverse repurchase agreements as of December 31, 2018. In addition to the below, unencumbered investments, on a settlement date basis, of approximately $13.3 million were held in custody at the Bank of New York Mellon Corporation as of December 31, 2018.
Dealer |  | % of Total Collateral on Reverse Repurchase Agreements
Royal Bank of Canada |  | 19%
% Of Total Deposits With Dealers Held As Collateral | The following table details the percentage of collateral amounts held by dealers who hold greater than 15% of the Company's Due from Brokers, included as of December 31, 2018:
Dealer |  | % of Total Due from Brokers
Morgan Stanley |  | 37%
J.P. Morgan Securities LLC |  | 30%
% Of Total Receivable For Securities Sold | The following table details the percentage of amounts held by dealers who hold greater than 15% of the Company's Receivable for securities sold as of December 31, 2018:
Dealer |  | % of Total Receivable for Securities Sold
J.P. Morgan Securities LLC |  | 25%
Bank of America Securities |  | 26%
CS First Boston Limited |  | 34%
Schedule of Cash and Cash Equivalents | In addition, the Company held cash and cash equivalents of $44.7 million as of March 31, 2018. The below table details the concentration of cash and cash equivalents held by each counterparty:
Counterparty |  | As of December 31, 2018
Bank of New York Mellon Corporation |  | 64%
Deutsche Bank Securities |  | 5%
Bank of America Securities |  | 2%
Morgan Stanley Institutional Liquidity Fund—Government Portfolio |  | 10%
BlackRock Liquidity Funds FedFund Portfolio |  | 9%
Goldman Sachs Financial Square Funds—Government Fund |  | 9%
Lakeland Bank Inc. |  | 1%

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