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Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2013
Financial Instruments [Abstract]  
Schedule Of Trading Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTMENTS - TRADING

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

September 30, 2013

 

December 31, 2012

U.S. government agency MBS and CMOs (1)

 

$
9,063 

 

$
34,592 

U.S. government agency debt securities

 

 
3,517 

 

 
21,066 

RMBS

 

 
2,935 

 

 
583 

CMBS

 

 
300 

 

 
12 

U.S. Treasury securities

 

 
182 

 

 
147 

Interests in securitizations (2)

 

 
344 

 

 
352 

SBA loans

 

 
29,272 

 

 
15,705 

Corporate bonds and redeemable preferred stock

 

 
27,241 

 

 
56,022 

Foreign government bonds

 

 
111 

 

 
448 

Municipal bonds

 

 
9,169 

 

 
37,745 

Exchange traded funds

 

 
6 

 

 

 -

Certificates of deposit

 

 
3,192 

 

 
8,934 

Equity securities

 

 
250 

 

 
533 

    Investments-trading

 

$
85,582 

 

$
176,139 

 

(1)Includes TBAs. See note 8. 

(2)Primarily comprised of CDOs, CLOs, and ABS.

Schedule Of Trading Securities Sold, Not Yet Purchased

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRADING SECURITIES SOLD, NOT YET PURCHASED

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

September 30, 2013

 

December 31, 2012

U.S. government agency MBS (1)

 

$
740 

 

$
13 

U.S. Treasury securities

 

 
33,265 

 

 
19,722 

RMBS

 

 
35 

 

 

 -

SBA loans

 

 
437 

 

 

 -

Corporate bonds and redeemable preferred stock

 

 
12,361 

 

 
21,976 

Foreign government bonds

 

 
8 

 

 

 -

Municipal bonds

 

 
120 

 

 
128 

Certificates of deposit

 

 
6,366 

 

 
2,325 

Equity securities

 

 

 -

 

 
3 

    Trading securities sold, not yet purchased

 

$
53,332 

 

$
44,167 

 

(1)Represents TBAs. See note 8. 

Schedule Of Other Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INVESTMENTS, AT FAIR VALUE

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2013

 

 

Cost

 

Carrying Value

 

Unrealized Gain(Loss)

Interests in securitizations (1)

 

$
217 

 

$
37 

 

$
(180)

Equity Securities:

 

 

 

 

 

 

 

 

 

EuroDekania

 

 
7,807 

 

 
2,275 

 

 
(5,532)

Star Asia

 

 
23,304 

 

 
21,118 

 

 
(2,186)

Star Asia Special Situations Fund

 

 
1,964 

 

 
3,203 

 

 
1,239 

Tiptree

 

 
5,561 

 

 
2,317 

 

 
(3,244)

Other securities

 

 
176 

 

 
37 

 

 
(139)

Total equity securities

 

 
38,812 

 

 
28,950 

 

 
(9,862)

Residential loans

 

 
163 

 

 
292 

 

 
129 

Foreign currency forward contracts

 

 

 -

 

 
(271)

 

 
(271)

    Other investments, at fair value

 

$
39,192 

 

$
29,008 

 

$
(10,184)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

Cost

 

Carrying Value

 

Unrealized Gain(Loss)

Interests in securitizations (1)

 

$
217 

 

$
77 

 

$
(140)

Equity Securities:

 

 

 

 

 

 

 

 

 

EuroDekania

 

 
7,807 

 

 
2,054 

 

 
(5,753)

Star Asia

 

 
23,304 

 

 
30,169 

 

 
6,865 

Star Asia Special Situations Fund

 

 
1,841 

 

 
2,503 

 

 
662 

Tiptree

 

 
5,561 

 

 
2,834 

 

 
(2,727)

Other securities

 

 
232 

 

 
431 

 

 
199 

Total equity securities

 

 
38,745 

 

 
37,991 

 

 
(754)

Residential loans

 

 
230 

 

 
255 

 

 
25 

    Other investments, at fair value

 

$
39,192 

 

$
38,323 

 

$
(869)

 

(1)Represents an interest in a CDO.