Company: NLY-PF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001043219-25-000012
Chunk: 79

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 79
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 through a brokerage firm,  investors will be charged a commission or spread, which is the difference between the market price and cost of purchase, and sometimes a service fee. Spreads differ based on several factors including liquidity.TTangible Economic ReturnRefers to the Company’s change in tangible book value (calculated by summing common stock, additional paid-in capital, accumulated other comprehensive income (loss) and accumulated deficit less intangible assets) plus dividends declared divided by the prior period’s tangible book value.Target AssetsIncludes Agency mortgage-backed securities, to-be-announced forward contracts, CRT securities, MSR, non-Agency mortgage-backed securities, residential mortgage loans, and commercial real estate investments.Taxable REIT Subsidiary (“TRS”)An entity that is owned directly or indirectly by a REIT and has jointly elected with the REIT to be treated as a TRS for tax purposes. Annaly and certain of its direct and indirect subsidiaries have made separate joint elections to treat these subsidiaries as TRSs.Term SOFRThe term secured overnight financing rate published by the Chicago Mercantile Exchange, which is used as a benchmark for financial transactions.To-Be-Announced (“TBA”) SecuritiesA contract for the purchase or sale of a mortgage-backed security to be delivered at a predetermined price, face amount, issuer, coupon and stated maturity on an agreed-upon future date but does not include a specified pool number and number of pools.TBA Dollar Roll IncomeTBA dollar roll income is defined as the difference in price between two TBA contracts with the same terms but different settlement dates. The TBA contract settling in the later month typically prices at a discount to the earlier month contract with the difference in price commonly referred to as the “drop”. TBA dollar roll income represents the equivalent of interest income on the underlying security less an implied cost of financing.Total ReturnInvestment performance measure over a stated time period which includes coupon interest, interest on interest, and any realized and unrealized gains or losses.Total Return SwapA derivative instrument where one party makes payments at a predetermined rate (either fixed or variable) while receiving a return on a specific asset (generally an equity index, loan or bond) held by the counterparty.UUnencumbered AssetsAssets on our balance sheet which have not been pledged as collateral against an existing liability.U.S. Government-Sponsored Enterprise (“GSE”) ObligationsObligations of Agencies originally established or chartered by the U.S. government to serve public purposes as specified by the U.S. Congress