. the increase in our repurchase agreements relative to the daily average during 2013 was primarily due to an increase in client activity at the end of the period . as of december 2012 , our total securities sold under agreements to repurchase , accounted for as collateralized financings , were $ 171.81 billion , which was essentially unchanged and 3% ( 3 % ) higher than the daily average amount of repurchase agreements during the quarter ended and year ended december 2012 , respectively