Axos Financial, Inc.
For the period ended Jun 30, 2025. Filed Aug 21, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Aug 21, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
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, 2025 | |||||
|---|---|---|---|---|---|
| (Dollars in thousands) | Gross Assets / Liabilities | Amounts Offset | Net Balance Sheet Amount | Amounts Not Offset2 | Net Assets / Liabilities |
| Assets: | |||||
| Securities borrowed | $139,396 | $— | $139,396 | $139,396 | $— |
| Other assets — derivative instruments1 | 17,734 | — | 17,734 | 11,174 | 6,560 |
| Liabilities: | |||||
| Securities loaned | $139,426 | $— | $139,426 | $139,426 | $— |
| Accounts payable and other liabilities — derivative instruments | 68,497 | — | 68,497 | 6,122 | 62,375 |
| 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 instruments1 | 106,796 | — | 106,796 | 18,524 | 88,272 |
| Liabilities: | |||||
| Securities loaned | $74,177 | $— | $74,177 | $74,177 | $— |
| Accounts payable and other liabilities — derivative instruments | 102,949 | — | 102,949 | 414 | 102,535 |
1 Other Assets - Derivative Assets as of June 30, 2025 are presented net of $55.4 million of variation margin on centrally-cleared derivatives. As of June 30, 2024, gross derivative assets are presented gross of $85.2 million of variation margin on centrally-cleared derivatives as a result of an $87.9 million receivable from the FDIC related to the novation of certain interest rate swaps.
2 Amounts not offset reflect cash collateral received on Derivative Assets of $6.3 million and $18.1 million as of June 30, 2025 and June 30, 2024, respectively, and cash collateral placed on Derivative Liabilities of $1.3 million as of June 30, 2025. 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.