Axos Financial, Inc.
For the period ended Jun 30, 2026. Filed Aug 20, 2026.
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FY2026 · Filed Aug 20, 2026
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7. Offsetting of 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 and foreign exchange 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. The Company manages credit exposure from certain of these transactions by entering into master netting agreements. The relevant agreements allow for the efficient closeout of transactions, liquidation and set-off of collateral against the net amount owed by the counterparty following a default. Default events generally include failure to pay, insolvency or bankruptcy of a counterparty.
The following tables present information about the offsetting of these instruments and related collateral amounts:
| June 30, 2026 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $163,462 | $— | $163,462 | $163,462 | $— | $— |
| Other Assets — Derivative Assets1 | 16,941 | — | 16,941 | 1,297 | 12,040 | 3,604 |
| Liabilities: | ||||||
| Securities loaned | $194,729 | $— | $194,729 | $194,729 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 52,509 | — | 52,509 | 1,104 | 291 | 51,114 |
| June 30, 2025 | ||||||
|---|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Financial Collateral | Cash Collateral | Net Assets / Liabilities |
| Assets: | ||||||
| Securities borrowed | $139,396 | $— | $139,396 | $139,396 | $— | $— |
| Other Assets — Derivative Assets1 | 17,734 | — | 17,734 | 4,782 | 6,392 | 6,560 |
| Liabilities: | ||||||
| Securities loaned | $139,426 | $— | $139,426 | $139,426 | $— | $— |
| Accounts Payable and Other Liabilities — Derivative Liabilities | 68,497 | — | 68,497 | 4,782 | 1,340 | 62,375 |
1 Gross amounts of Other Assets - Derivative Assets are presented net of $52.3 million and $55.4 million of variation margin on centrally-cleared derivatives as of June 30, 2026 and June 30, 2025, respectively.
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.