Axos Financial Inc
For the period ended Dec 31, 2024. Filed Jan 28, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2024 · Filed Jan 28, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
6. Offsetting of Derivatives and Securities Financing Agreements
- OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS
The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements”in the 2024 Form 10-K.
The following tables present information about the offsetting of these instruments and related collateral amounts:
| December 31, 2024 | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Amounts Not Offset2 | Net Assets / Liabilities |
| Assets: | |||||
| Securities borrowed | $114,672 | $— | $114,672 | $114,672 | $— |
| Other Assets — Derivative Assets1 | 16,363 | — | 16,363 | 15,221 | 1,142 |
| Liabilities: | |||||
| Securities loaned | $135,258 | $— | $135,258 | $135,258 | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 83,957 | — | 83,957 | 1,147 | 82,810 |
| June 30, 2024 | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Amounts Not Offset2 | Net Assets / Liabilities |
| Assets: | |||||
| Securities borrowed | $67,212 | $— | $67,212 | $67,212 | $— |
| Other Assets — Derivative Assets | 106,796 | — | 106,796 | 18,524 | 88,272 |
| Liabilities: | |||||
| Securities loaned | $74,177 | $— | $74,177 | $74,177 | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 102,949 | — | 102,949 | 414 | 102,535 |
1 Other Assets - Derivative Assets are presented net of $78.0 million of variation margin on centrally-cleared derivatives as of December 31, 2024.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $14.2 million and $18.1 million as of December 31, 2024 and June 30, 2024, respectively, and cash collateral placed on Derivative Liabilities of $0.1 million as of December 31, 2024. There wasno cash collateral placed on Derivative Liabilities as of June 30, 2024.
The securities loaned transactions represent equities with an overnight and open maturity classification as of both periods presented.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.