When I look this morning three month 10-year swaption was up 53 basis points. The stock was acquired at an average cost of $5.56 per share, with a total value of $1,112,000.00. I didn't in the prepared comments. Annaly Capital Management, Inc. (NYSE:NYSE:NLY) Q2 2020 Earnings Conference Call July 30, 2020, 09:00 AM ET Company Participants Purvi Kamdar - Head, IR David Finkelstein - CEO & Chief. So that could change but derivatives without achieving a little bit as well as MSR for it to be more attractive. So the NIM itself is not reflective of TBAs at all to your dollar role at all? Currently, Dr. Hannan serves on the Board of Directors of Otis Elevator Co., Gingko Bioworks and Carpenter Technology Corporation, is Chairman of the Board of Trustees and a member of the Executive Committee of the Smithsonian National Museum of the American Indian, is a Trustee of the Committee for Economic Development in Washington D.C., and is an active member of Women Corporate Directors. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. Our next question comes from Kenneth Lee with RBC Capital Markets. Under the standard an entity recognizes its estimate of lifetime expected credit losses as an allowance, which the fed believes will result in more timely recognition of such losses and while changes in economic scenarios and asset performance in the future will impact Cecil reserves in subsequent quarters, current reserve levels should not be considered as a pervasive credit issue within the portfolio or an indication of what reserves may be recorded in the future. Ms. Wolfe is a Certified Public Accountant in the states of New York, California, Illinois and Pennsylvania. in Finance from the University of Dayton. Look, first of all I'll talk about the footprint and agency derivatives for example and what we're talking about here Eric is the difference between balance sheet leverage and instructional leverage. But nonetheless it's a more balanced hedge profile now with a slight steepening bias and we took advantage of near zero rates at the front end of the curve, which we think has very limited downside potential in terms of those hedges losing money because it's not our view that we end up in a negative rate scenarios negative policy rate scenario that is. in Economics and Political Science from the University of Pennsylvania and a J.D. Mr. Campbell received a B.B.A. Mr. Finkelstein received a B.A. biography. From 2015 until 2018, Dr. Hannan served as a Senior Advisor for KPMGs Board Leadership Center and National Leader Total Impact Strategy and, from 2009 until 2015, as KPMGs National Managing Partner of Diversity and Corporate Responsibility. The report demonstrates Annalys continued focus on setting and measuring progress on environmental, social and governance (ESG) goals, as well as its commitment to providing increased disclosure and transparency. He began his career in 1979 in the commercial lending program at Philadelphia National Bank. Wallmine is a radically better financial terminal. . Mr. Campbell currently serves on the Advisory Board for the Fitzgerald Institute of Real Estate at the University of Notre Dame. History of Analytic Philosophy. Liquidity tools have sufficiently supported funding markets and credit facilities have opened channels to credit for businesses, households and local governments, the temporary adjustments to regulations have somewhat encouraged bank lending and most impactful to Annaly's portfolio the asset purchases have supported the smooth functioning of treasury and agency markets. Our next question comes from Doug Harter with Credit Suisse. I was wondering if you could talk a little bit more about the thought process around the hedge repositioning in the quarter, adding more hedges on the short end of the curve and then I guess should we expect more options hedging going forward. Is this happening to you frequently? Annaly Capital Management, Inc. (NLY) CEO David Finkelstein on Q2 2020 Mar 16, 2020. Thanks again. We don't anticipate increasing agency meaningfully, but we do recognize that these credit markets are a little bit slow to redevelop. David L. Finkelstein C.F.A. Net Worth (2023) | wallmine Our residential portfolio was roughly unchanged quarter-over-quarter at $2.6 billion as modest purchases and mark-to-market increases largely offset sales and portfolio runoff. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Insiders at Annaly Capital Management own 0.3% of the company. David L. Finkelstein is Chief Executive Officer and Chief Investment Officer of Annaly. Mr. Green has served as Chief Corporate Officer since January 2019 and Chief Legal Officer since March 2017. Shifting to middle-market lending, activity has also picked up as of late as spreads have tightened and sponsors have refinanced transactions that have exhibited improving underlying leverage profiles. Reinvestment is a key criteria here. Also as David mentioned, our internalization transaction closed at the end of the quarter and we anticipate generating cost savings over the long time as we embark on being an internally managed company. Serena Wolfe is Chief Financial Officer of Annaly. Overall, we maintained a more constructive view of the operating environment and our ability to deliver compelling returns as each of our businesses respected sectors begins to emerge from the initial volatility and destruction caused by the pandemic. Any forward-looking statements made during today's call are subject to certain risks and uncertainties including with respect to COVID-19 impacts, which are outlined in the risk factors section in our most recent annual and quarterly SEC filings. [Operator instructions] Our next question comes from George Bahamondes with Deutsche Bank. Volatility is low and the fed is specifically directing volatility lower and they also happen to be a huge tailwind in terms of purchases of agency MBS, so the technicals are very favorable and to your point, it does appear to be a very good backdrop for the foreseeable future for agency. Good morning and nice quarter guys. Given this dynamic, we increased our TBA position in the quarter and gravitated further down in coupon. Maurion Davis on LinkedIn: #leader #citibank He served as Senior Advisor to Annaly from March 2020 to August 2020 after serving as Interim Chief Executive Officer and President of Annaly from November 2019 to March 2020. We can't say how long that will persist for, but we do think about this for much more than just the quarter or two where we do have the specialist and we're trying to get the appropriate level where we know it's sustainable and that's how we feel about it and if we continue to out-earn it that's perfectly okay because we're given the shareholder a 10.5% dividend yield on their book value. You may also find the annual proxy statement by going directly to the company's website. The estimated net worth of David L. Finkelstein is at least $36.42 million as of June 17th, 2022. Mr. Schaefer served as a board member and chair of the audit committee of USI Holdings Corporation from 2008 through 2012. June however, did bring about an increase in new refinancing requests with some new acquisition activity at post-COVID purchase prices and simultaneously, we've seen a significant number of warehouse providers begin to close new loans although pricing levels have been reset higher. Corporate Responsibility CommitteeRisk Committee. David L Finkelstein, Annaly: Profile and Biography in Accounting from the University of Notre Dame and a M.B.A. from the Harvard Graduate School of Business. Biography of David Finkelstein. The improvement in singles that the market currently believes that the majority of forbearance cases, which have stabilized over the past couple of months will ultimately be resolved. Most recently he exercised 31,721 units of NLY stock worth $179,224 on 30 June 2022. . Hey how much did TBAs add to your net interest margin for the quarter? And with that I'll turn the call over to David. Today I'd like to highlight a number of current corporate initiatives, provide an update on the market and discuss portfolio activity across our core business during the quarter and finally provide our outlook for the balance of the year and then I'll hand it off to Serena to discuss the financials. 2022-2023 Spring Category. David L. Finkelstein, who has been serving as Annaly's Chief Investment Officer, Agency and RMBS, has been named Annaly's . Thanks. Now core earnings in Q2 were above that dividend and we expect them to be so in Q3. Annaly is a leading diversified capital manager with investment strategies across mortgage finance. And everything you said the two words that stood out everything changes. The dividend represented 10.5% yield on our book value which is in line with our historical average while being competitive relative to our peers and various fixed income benchmarks. Consistent with that strategy, since the beginning of the second quarter, we added $1.125 billion of capacity across two new credit facilities for our residential credit group, the permanent nonrecourse financing. The conference has now concluded. Chief Executive OfficerChief Investment Officer. Mr. Finkelstein was elected to serve as a director of Annaly in March 2020 and previously served as Chief Investment Officer. Last updated: 2 February 2023 at 6:03pm EST. No, I think I understand. Mr. Campbell previously served as Head of Business Operations of Annaly and has over 25 years of experience in financial services. Annaly Capital Management, Inc. (NYSE: NLY) (the "Company" or "Annaly") announced today the publication of its third corporate responsibility report f Okay. None of Annaly's achievements would have been possible without .
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