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Note 17 - Accounts Payable and Other Liabilities

12 Months Ended

Dec. 31, 2021

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

17. ACCOUNTS PAYABLE AND OTHER LIABILITIES

Accounts payable and other liabilities consisted of the following.

ACCOUNTS PAYABLE AND OTHER LIABILITIES
(Dollars in Thousands)

	As of December 31,
	2021		2020
Accounts payable	$	122	$	162
Redeemable financial instruments accrued interest		291		316
Accrued income tax		61		99
Accrued interest payable		558		630
Accrued interest on securities sold, not yet purchased		704		435
Payroll taxes payable		1,548		1,048
Counterparty cash collateral		17,320		41,119
Accrued expense and other liabilities		2,097		2,442
Accounts payable and other liabilities	$	22,701	$	46,251

The redeemable financial instrument accrued interest represents accrued interest on the JKD Capital Partners I LTD and the CBF redeemable financial instruments. See note 19 and 20.

When the Company enters into a reverse repo, the Company obtains collateral in excess of the principal of the reverse repo. The Company accepts collateral in the form of liquid securities or cash. To the extent the Company receives cash collateral, the Company includes it as a component of other liabilities (counterparty cash collateral) in the table above. See note 11.

When the Company enters into repo transactions, the Company provides collateral to the Company’s repo counterparty in excess of the principal balance of the repo. If the value of the securities the Company provides as collateral increases, the Company may request a return of its collateral with a value equal to such increase. In some cases, the repo counterparty will return cash instead of securities. In that case, the Company includes the cash returned as a component of other liabilities (counterparty cash collateral) in the table above. See note 11.