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Collateralized Transactions (Tables)
 12 Months Ended
Dec. 31, 2013
Text Block [Abstract]  
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Lending Transactions

The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of December 31, 2013 and 2012:

 

As of December 31, 2013

  
(Expressed in thousands)                                        
                         Gross Amounts Not Offset
on the Balance Sheet		         
     Gross
Amounts of
Recognized
Assets		      Gross
Amounts
Offset in the
Statement of
Financial
Position		     Net Amounts
of Assets
Presented on
the Balance
Sheet		      Financial
Instruments		     Cash
Collateral
Received		      Net Amount  

Reverse repurchase agreements

    $ 389,438       $ (204,614 )    $ 184,824       $ (183,305 )    $ —         $ 1,519   

Securities borrowed (1)

      274,127         —          274,127         (265,936 )      —           8,191   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 663,565       $ (204,614 )    $ 458,951       $ (449,241 )    $ —         $ 9,710   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

 

(1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet.

 

                         Gross Amounts Not Offset
on the Balance Sheet		         
     Gross
Amounts of
Recognized
Liabilities		      Gross
Amounts
Offset in the
Statement of
Financial
Position		     Net Amounts
of Liabilities
Presented on
the Balance
Sheet		      Financial
Instruments		     Cash
Collateral
Pledged		      Net Amount  

Repurchase agreements

    $ 962,105       $ (204,614 )    $ 757,491       $ (753,003 )    $ —         $ 4,488   

Securities loaned (2)

      211,621         —          211,621         (204,971 )      —           6,650   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 1,173,726       $ (204,614 )    $ 969,112       $ (957,974 )    $ —         $ 11,138   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

 

(2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.

 

 

As of December 31, 2012

  
(Expressed in thousands)                                        
                         Gross Amounts Not Offset
on the Balance Sheet		         
     Gross
Amounts of
Recognized
Assets		      Gross
Amounts
Offset in the
Statement of
Financial
Position		     Net Amounts
of Assets
Presented on
the Balance
Sheet		      Financial
Instruments		     Cash
Collateral
Received		      Net Amount  

Reverse repurchase agreements

    $ 1,160,239       $ (1,160,239 )    $ —         $ —        $ —         $ —     

Securities borrowed (1)

      365,642         —          365,642         (353,341 )      —           12,301   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 1,525,881       $ (1,160,239 )    $ 365,642       $ (353,341 )    $ —         $ 12,301   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

 

(1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet.

 

                          Gross Amounts Not Offset
on the Balance Sheet		         
     Gross
Amounts of
Recognized
Liabilities		      Gross
Amounts
Offset in the
Statement of
Financial
Position		      Net Amounts
of Liabilities
Presented on
the Balance
Sheet		      Financial
Instruments		     Cash
Collateral
Pledged		      Net Amount  

Repurchase agreements

    $ 1,552,630       $ 1,160,239       $ 392,391       $ (377,737 )    $ —         $ 14,654   

Securities loaned (2)

      190,387         —           190,387         (187,787 )      —           2,600   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

  

Total

    $ 1,743,017       $ 1,160,239       $ 582,778       $ (565,524 )    $ —         $ 17,254   
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

  

 

(2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.