eTrade 2001 Annual Report Download - page 130

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loans with a market value of $2,039 million, which it can sell or repledge. Of this amount, $804million has been pledged or sold as of
December 31, 2001 in connection with securities loans, bank borrowings and deposits with clearing organizations. Included in deposits
paid for securities borrowed and deposits received for securities loaned at December31, 2001 are amounts from transactions involving
MJKClearing and three other brokers. The parties in this transaction have a dispute over the amounts owed, as more fully described in
Note 23 “Commitments, Contingencies and Other Regulatory Matters.” Payable to customers and non-customers represents free credit
balances and other customer and non-customer funds pending completion of securities transactions. The Company pays interest on
certain customer and non-customer credit balances.
113
Table of Contents
6.MORTGAGE-BACKED SECURITIES
The amortized cost basis and estimated fair values of available-for-sale mortgage-backed securities at December 31, 2001 and
September 30, 2000 are shown as follows (in thousands):
Amortized Cost Gross Unrealized
Gains Gross Unrealized Losses Estimated Fair Values
December 31, 2001:
Private issuer and other $ 68,974 $ 1,077 $ (971 ) $ 69,080
U.S. government sponsored enterprise
obligations
1,686,329 4,375 (41,615 ) 1,649,089
Collateralized mortgage obligations 1,865,353 8,531 (35,434 ) 1,838,450
Total $ 3,620,656 $ 13,983 $ (78,020 ) $ 3,556,619
September 30, 2000:
Private issuer and other $ 49,590 $ 138 $ (2,356 ) $ 47,372
U.S. government sponsored enterprise
obligations
780,684 2,299 (5,299 ) 777,684
Collateralized mortgage obligations 3,396,622 8,529 (41,654 ) 3,363,497
Total $ 4,226,896 $ 10,966 $ (49,309 ) $ 4,188,553
The contractual principal maturities, excluding any anticipated prepayments, of available-for-sale mortgage-backed securities at
December 31, 2001 are shown as follows (in thousands):
Amortized Cost Estimated Fair Values
Due within one to five years $ 35 $ 37
Due within five to ten years 1,407 1,404
Due after ten years 3,619,214 3,555,178
Total $ 3,620,656 $ 3,556,619
2002. EDGAR Online, Inc.