Company: NLY-PF
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023811
Chunk: 113

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 113
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. SECURED FINANCINGReverse Repurchase and Repurchase Agreements – The Company finances a significant portion of its assets with repurchase agreements. At the inception of each transaction, the Company assessed each of the specified criteria in ASC 860, Transfers and Servicing, and has determined that each of the financing agreements should be treated as a secured financing.The Company enters into reverse repurchase agreements to earn a yield on excess cash balances. To mitigate credit exposure, the Company monitors the market value of these securities and delivers or obtains additional collateral based on changes in market value of these securities. Generally, the Company receives or posts collateral with a fair value approximately equal to or greater than the value of the secured financing. Reverse repurchase agreements and repurchase agreements with the same counterparty and the same maturity are presented net in the Consolidated Statements of Financial Condition when the terms of the agreements meet the criteria to permit netting. The Company reports cash flows on repurchase agreements as financing activities and cash flows on reverse repurchase agreements as investing activities in the Consolidated Statements of Cash Flows.The Company had outstanding $61.7 billion and $65.7 billion of repurchase agreements with weighted average remaining maturities of 50 days and 32 days and weighted average rates of 4.56% and 4.76% at March 31, 2025 and December 31, 2024, respectively. In connection with its residential mortgage loans, the Company has select arrangements with counterparties to enter into repurchase agreements for $3.9 billion with remaining capacity of $2.2 billion at March 31, 2025.At March 31, 2025 and December 31, 2024, the repurchase agreements had the following remaining maturities and collateral types: March 31, 2025 Agency Mortgage-Backed SecuritiesCRTsNon-Agency Mortgage-Backed SecuritiesResidential Mortgage LoansCommercial Mortgage-Backed SecuritiesTotal Repurchase Agreements (dollars in thousands)1 day$22,600,000 $— $— $— $— $22,600,000 2 to 29 days2,056,765 257,622 861,199 — 52,559 3,228,145 30 to 59 days14,680,029 51,904 709,891 — — 15,441,824 60 to 89 days20,336,079