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Collateral Positions | 9 Months Ended
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Sep. 30, 2020
Collateral Positions |
Collateral Positions | Collateral Positions The Company pledges securities or cash as collateral to its counterparties in relation to certain of its financing arrangements. In addition, the Company receives securities or cash as collateral pursuant to financing provided under reverse repurchase agreements. The Company exchanges collateral with its counterparties based on changes in the fair value, notional amount and term of the associated financing arrangements and Swap contracts, as applicable. In connection with these margining practices, either the Company or its counterparty may be required to pledge cash or securities as collateral. When the Company’s pledged collateral exceeds the required margin, the Company may initiate a reverse margin call, at which time the counterparty may either return the excess collateral or provide collateral to the Company in the form of cash or equivalent securities. The Company’s assets pledged as collateral are described in Notes 2(f) - Restricted Cash, 5(c) - Derivative Instruments and 6 - Repurchase Agreements. The total fair value of assets pledged as collateral with respect to the Company’s borrowings under its financing arrangements and/or derivative hedging instruments was $5.2 billion and $11.3 billion at September 30, 2020 and December 31, 2019, respectively. An aggregate of $35.8 million and $57.2 million of accrued interest on those assets had also been pledged as of September 30, 2020 and December 31, 2019, respectively.

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- Definition Disclosure of both assets pledged as collateral, and assets held as collateral. Assets pledged as collateral are financial instruments held by the entity for its own account for trading or investment purposes and pledged to counterparties as collateral for financing transactions. Assets held as collateral are financial instruments that have been pledged by counterparties sunder financing and lending arrangements, pursuant to which the entity has the right by agreement or custom to sell or re-pledge such securities. + References No definition available. + Details
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