eTrade 2001 Annual Report Download - page 104
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Mortgage-backed securities,
available-for-sale and trading 3,627,470 27.98 %
273,579 287,366 857,804 2,208,721
Investment securities,
available-for-sale and FHLB stock 1,035,660 7.99 %
306,672 122,792 378,881 227,315
Federal funds sold and
interest-bearing
deposits
288,674 2.23 %
288,674 — — —
Total interest-earning banking assets 12,962,261 100.00 %
$ 1,663,156 $ 1,689,901 $ 4,738,442 $ 4,870,762
Non-interest-earning banking assets 499,963
Total banking assets $ 13,462,224
Interest-bearing banking liabilities:
Savings deposits $ 2,857,048 23.32 %
$ — $ — $ 2,857,048 $ —
Time deposits 5,225,811 42.65 %
1,261,157 2,745,118 1,218,538 998
FHLB advances 906,300 7.39 %
806,300 — 50,000 50,000
Other borrowings 3,264,195 26.64 %
3,264,195 — — —
Total interest-bearing banking
liabilities 12,253,354 100.00 %
$ 5,331,652 $ 2,745,118 $ 4,125,586 $ 50,998
Non-interest-bearing banking
liabilities 420,612
Total banking liabilities 12,673,966
Minority interest in subsidiary 69,503
Stockholders’ equity 718,755
Total liabilities and stockholders’
equity $ 13,462,224
Periodic gap $ (3,668,496 ) $ (1,055,217 ) $ 612,856 $ 4,819,764
Cumulative gap $ (3,668,496 ) $ (4,723,713 ) $ (4,110,857 ) $ 708,907
Cumulative gap to total assets (27.3 )
% (35.1 )% (30.5 )
% 5.3 %
Cumulative gap to total assets hedge
affected 11.6 % 12.0 % (26.9 )
% 5.3 %
As of September 30, 2000:
Cumulative gap to total assets (36.9 )
% (49.1 )% (24.0 )
% 6.5 %
Cumulative gap to total assets hedge
affected 1.1 % (12.8 )% (21.5 )
% 6.5 %
89
Table of Contents
Derivative Financial Instruments
The Bank employs derivative financial instruments to help manage the Bank’ s interest rate risk exposure to acceptable levels. Interest
rate swaps are used to lower the duration of specific fixed-rate assets or increase the duration of specific adjustable-rate liabilities.
2002. EDGAR Online, Inc.