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Trading Securities, at Fair Value (Notes)
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12 Months Ended |
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Dec. 31, 2011
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| Trading Securities, at Fair Value [Abstract] | |
| Trading Securities, at Fair Value |
Trading Securities, at Fair Value
During the year ended December 31, 2011, the Company acquired and sold U.S. Treasuries in its taxable REIT subsidiary and classified these securities as trading instruments due to its short-term investment objectives. As of December 31, 2011 and December 31, 2010, the Company held U.S. Treasuries with an amortized cost of $1.0 billion and $0.2 billion and a fair value of $1.0 billion and $0.2 billion, respectively, classified as trading securities. The unrealized gains and losses included within trading securities was a positive $3.1 million as of December 31, 2011 and a negative $0.5 million as of December 31, 2010.
For the years ended December 31, 2011 and December 31, 2010, the Company sold trading securities for $1.2 billion and $58.5 million with an amortized cost of $1.2 billion and $58.2 million resulting in realized gains of $3.3 million and $0.3 million, respectively, on the sale of these investment securities. For the years ended December 31, 2011 and December 31, 2010, trading securities experienced unrealized gains of $3.5 million and unrealized losses of $0.5 million, respectively. Both realized and unrealized gains and losses are recorded as a component of gains on investment securities, net in the Company's consolidated statements of operations and comprehensive income (loss).
At December 31, 2011, the Company pledged trading securities with a carrying value of $1.0 billion as collateral for repurchase agreements. See Note 11 - Repurchase Agreements.
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- Details
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- Definition
Tabular disclosure of trading securities (and certain trading assets) which consist of all investments in certain debt and equity securities (and other assets) that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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