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Offsetting assets and liabilities (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of effect of offsetting recognized assets and liabilities


							Gross amounts not offset in the Consolidated Balance Sheets⁽¹⁾
(in thousands)	Gross amounts of Assets / Liabilities		Gross amounts offset		Balance in Consolidated Balance Sheets		Financial Instruments		Cash Collateral Received / Paid		Net Amount
September 30, 2022
Assets
FX forwards	$	3,065	$	—	$	3,065	$	—	$	—	$	3,065
TBA Agency Securities		9,226		42		9,184		—		—		9,184
Interest rate swaps		56,787		42,824		13,963		—		—		13,963
Total	$	69,078	$	42,866	$	26,212	$	—	$	—	$	26,212
Liabilities
IRLCs	$	4,345	$	—	$	4,345	$	—	$	—	$	4,345
TBA Agency Securities		42		42		—		—		—		—
Secured borrowings		3,348,249		—		3,348,249		3,348,249		—		—
Paycheck Protection Program Liquidity Facility		305,797		—		305,797		275,761		—		30,036
Total	$	3,658,433	$	42	$	3,658,391	$	3,624,010	$	—	$	34,381
December 31, 2021
Assets
IRLCs	$	2,340	$	—	$	2,340	$	—	$	—	$	2,340
FX forwards		606		—		606		—		—		606
TBA Agency Securities		128		128		—		—		—		—
Interest rate swaps		6,076		2,000		4,076		—		—		4,076
Total	$	9,150	$	2,128	$	7,022	$	—	$	—	$	7,022
Liabilities
Interest rate swaps	$	3,830	$	3,830	$	—	$	—	$	—	$	—
TBA Agency Securities		538		128		410		—		—		410
Secured borrowings		2,517,600		—		2,517,600		2,517,600		—		—
Paycheck Protection Program Liquidity Facility		941,505		—		941,505		870,349		—		71,156
Total	$	3,463,473	$	3,958	$	3,459,515	$	3,387,949	$	—	$	71,566

(1)

Amounts presented in these columns are limited in total to the net amount of assets or liabilities presented in the prior column by instrument. In certain cases, there is excess cash collateral or financial assets we have pledged to a counterparty that exceed the financial liabilities subject to a master netting repurchase arrangement or similar agreement. Additionally, in certain cases, counterparties may have pledged excess cash collateral to us that exceeds our corresponding financial assets. In each case, any of these excess amounts are excluded from the table although they are separately reported in our consolidated balance sheets as assets or liabilities, respectively.