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Collateralized Securities Transactions | 12 Months Ended
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Dec. 31, 2015
Collateralized Securities Transactions [Abstract] |
Collateralized Securities Transactions | 11. COLLATERALIZED SECURITIES TRANSACTIONS R everse repurchase agreements and repurchase agreements, principally U.S. government and federal agency obligations and MBS, are treated as collateralized financing transactions and are recorded at their contracted resale or repurchase amounts plus accrued interest. The resulting interest income and expense are included in net trading in the consolidated statements of operations. See note 3-L. The Company enters into reverse repurchase agreements as part of its matched book repo financing business, to acquire securities to cover short positions, or as an investment. The Company enters into repurchase agreements as part of its matched book repo financing business or to finance the Company’s securities positions held in inventory. At December 31, 2015 and 2014, the Company held reverse repurchase agreements of $128,011 and $101,675, respectively, and the fair value of securities received as collateral under reverse repurchase agreements was $137,232 and $107,931, respectively. At December 31, 2015 and 2014, the Company had repurchase agreements of $127,913 and $101,856, respectively, and the fair value of securities pledged as collateral under repurchase agreements was $137,232 and $108,065, respectively. These amounts include collateral for reverse repurchase agreements that were re-pledged as collateral for repurchase agreements. The following table is a summary of the remaining contractual maturity of the gross obligations under repurchase agreements accounted for as secured borrowings segregated by the underlying collateral pledged.
Repurchase Agreements Accounted for as Secured Borrowings
(Dollars in Thousands)
December 31, 2015
| Remaining Contractual Maturity of the Agreements
| Overnight and Continuous |  | Up to 30 days |  | 30-90 days |  | Greater than 90 days |  | Total
Collateral Type: |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS | $ | - |  | $ | 127,913 |  | $ | - |  | $ | - |  | $ | 127,913
| $ | - |  | $ | 127,913 |  | $ | - |  | $ | - |  | $ | 127,913
Gross amount of recognized liabilities for repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  | $ | 127,913

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- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=55761124&loc=SL6224234-111729 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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