Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Weighted Average Coupon Rate
Agency mortgage-backed securities	3.16	%
Agency CMOs	3.47	%
Non-agency CMOs	3.43	%

		Weighted Average		Range
Underlying loans:
	Coupon rate	3.07	%	2.86	%	-	6.42	%
	Maturity (years)	21		20		-	25
Significant inputs:
	Yield	4	%	3	%	-	10	%
	Default rate⁽¹⁾	19	%	4	%	-	53	%
	Loss severity	38	%	16	%	-	66	%
	Prepayment rate	8	%	3	%	-	24	%


⁽¹⁾The default rate reflects the implied rate necessary to equate market price to the book yield given the market credit assumption.


	Unobservable Inputs	Average		Range
One- to four-family	Appraised value	$	367	$	25	-	$	2,150
Home equity	Appraised value	$	264	$	8	-	$	1,475
Real estate owned	Appraised value	$	273	$	13	-	$	1,000

Fair Value Assets And Liabilities Measured On Nonrecurring And Recurring Basis [Table Text Block]

						Level 1		Level 2		Level 3		Total Fair Value
March 31, 2013:
Recurring fair value measurements:
Assets
	Trading securities					$	99,576	$	962	$	-	$	100,538
	Available-for-sale securities:
		Residential mortgage-backed securities:
			Agency mortgage-backed securities and CMOs				-		11,429,270		-		11,429,270
			Non-agency CMOs				-		-		14,054		14,054
				Total residential mortgage-backed securities			-		11,429,270		14,054		11,443,324
		Investment securities:
			Agency debentures				-		604,484		-		604,484
			Agency debt securities				-		592,717		-		592,717
			Municipal bonds				-		31,453		-		31,453
			Corporate bonds				-		4,400		-		4,400
				Total investment securities			-		1,233,054		-		1,233,054
					Total available-for-sale securities		-		12,662,324		14,054		12,676,378
	Other assets:
		Derivative assets⁽¹⁾					-		16,307		-		16,307
		Deposits with clearing organizations⁽²⁾					30,999		-		-		30,999
			Total other assets measured at fair value on a
					recurring basis		30,999		16,307		-		47,306
			Total assets measured at fair value on a
					recurring basis⁽³⁾	$	130,575	$	12,679,593	$	14,054	$	12,824,222
Liabilities
		Derivative liabilities⁽¹⁾				$	-	$	289,285	$	-	$	289,285
		Securities sold, not yet purchased					96,604		249		-		96,853
			Total liabilities measured at fair value on a
					recurring basis⁽³⁾	$	96,604	$	289,534	$	-	$	386,138
Nonrecurring fair value measurements:⁽⁴⁾
	Loans receivable:
		One- to four-family				$	-	$	-	$	113,355	$	113,355
		Home equity					-		-		26,708		26,708
			Total loans receivable				-		-		140,063		140,063
	REO						-		-		29,522		29,522
			Total assets measured at fair value on
			a nonrecurring basis			$	-	$	-	$	169,585	$	169,585


⁽¹⁾All derivative assets and liabilities are interest rate contracts. Information related to derivative instruments is detailed in Note 6─Accounting for Derivative Instruments and Hedging Activities.
⁽²⁾Represents U.S. Treasury securities held by a broker-dealer subsidiary.
⁽³⁾Assets and liabilities measured at fair value on a recurring basis represented 29% and 1% of the Company's total assets and total liabilities, respectively.
⁽⁴⁾Represents the fair value of assets prior to deducting estimated selling costs that were carried on the consolidated balance sheet as of March 31, 2013, and for which a fair value measurement was recorded during the period.

						Level 1		Level 2		Level 3		Total Fair Value
December 31, 2012:
Recurring fair value measurements:
Assets
	Trading securities					$	100,259	$	1,011	$	-	$	101,270
	Available-for-sale securities:
		Residential mortgage-backed securities:
			Agency mortgage-backed securities and CMOs				-		12,097,298		-		12,097,298
			Non-agency CMOs				-		185,668		49,495		235,163
				Total residential mortgage-backed securities			-		12,282,966		49,495		12,332,461
		Investment securities:
			Agency debentures				-		527,996		-		527,996
			Agency debt securities				-		546,762		-		546,762
			Municipal bonds				-		31,346		-		31,346
			Corporate bonds				-		4,455		-		4,455
				Total investment securities			-		1,110,559		-		1,110,559
					Total available-for-sale securities		-		13,393,525		49,495		13,443,020
	Other assets:
		Derivative assets⁽¹⁾					-		14,890		-		14,890
		Deposits with clearing organizations⁽²⁾					32,000		-		-		32,000
			Total other assets measured at fair value on a
					recurring basis		32,000		14,890		-		46,890
			Total assets measured at fair value on a
					recurring basis⁽³⁾	$	132,259	$	13,409,426	$	49,495	$	13,591,180
Liabilities
		Derivative liabilities⁽¹⁾				$	-	$	328,504	$	-	$	328,504
		Securities sold, not yet purchased					87,088		489		-		87,577
			Total liabilities measured at fair value on a
					recurring basis⁽³⁾	$	87,088	$	328,993	$	-	$	416,081
Nonrecurring fair value measurements:⁽⁴⁾
	Loans receivable:
		One- to four-family				$	-	$	-	$	752,008	$	752,008
		Home equity					-		-		90,663		90,663
			Total loans receivable				-		-		842,671		842,671
	REO						-		-		75,885		75,885
			Total assets measured at fair value on
			a nonrecurring basis			$	-	$	-	$	918,556	$	918,556


⁽¹⁾The majority of derivative assets and liabilities are interest rate contracts. Information related to derivative instruments is detailed in Note 6─Accounting for Derivative Instruments and Hedging Activities.
⁽²⁾Represents U.S. Treasury securities held by a broker-dealer subsidiary.
⁽³⁾Assets and liabilities measured at fair value on a recurring basis represented 29% and 1% of the Company's total assets and total liabilities, respectively.
⁽⁴⁾Represents the fair value of assets prior to deducting estimated selling costs that were carried on the consolidated balance sheet as of December 31, 2012, and for which a fair value measurement was recorded during the period.

		Three Months Ended March 31,
		2013		2012

One- to four-family		$	15,875	$	100,347
Home equity			18,852		151,825
	Total losses on loans receivable measured at fair value	$	34,727	$	252,172
Losses on REO measured at fair value		$	896	$	4,296

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Table Text Block]

	Available-for-sale Securities
	Non-agency CMOs
Opening balance, January 1, 2013	$	49,495
Losses recognized in earnings⁽¹⁾		(1,165)
Net gains recognized in other comprehensive income⁽²⁾		1,716
Sales		(34,949)
Settlements		(1,043)
Closing balance, March 31, 2013	$	14,054


⁽¹⁾Losses recognized in earnings were related to instruments held at March 31, 2013 and are reported in the net impairment line item.
⁽²⁾Net gains recognized in other comprehensive income are reported in the net change from available-for-sale securities line item.

	Available-for-sale Securities
	Non-agency CMOs
Opening balance, January 1, 2012	$	97,106
Losses recognized in earnings⁽¹⁾		(2,753)
Net gains recognized in other comprehensive income⁽²⁾		31
Settlements		(4,182)
Transfer in to Level 3⁽³⁾⁽⁴⁾		53,639
Transfer out of Level 3⁽³⁾⁽⁵⁾		(61,572)
Closing balance, March 31, 2012	$	82,269


⁽¹⁾Losses recognized in earnings were related to instruments held at March 31, 2012 and are reported in the net impairment line item.
⁽²⁾Net gains recognized in other comprehensive income are reported in the net change from available-for-sale securities line item.
⁽³⁾The Company's transfers in and out of Level 3 are as of the beginning of the reporting period on a quarterly basis.
⁽⁴⁾Non-agency CMOs transferred in to Level 3 due to a lack of observable market data, resulting from a decrease in market activity for the securities.
⁽⁵⁾Non-agency CMOs transferred out of Level 3 because observable market data became available for those securities.

Fair Value By Balance Sheet Grouping [Table Text Block]

				March 31, 2013
				Carrying Value		Level 1		Level 2		Level 3		Total Fair Value
Assets
	Cash and equivalents			$	1,507,722	$	1,507,722	$	-	$	-	$	1,507,722
	Cash required to be segregated under
		federal or other regulations		$	318,817	$	318,817	$	-	$	-	$	318,817
	Held-to-maturity securities:
		Agency mortgage-backed securities and CMOs		$	8,106,185	$	-	$	8,356,974	$	-	$	8,356,974
		Agency debentures			163,439		-		169,602		-		169,602
		Agency debt securities			1,586,889		-		1,646,894		-		1,646,894
			Total held-to-maturity securities	$	9,856,513	$	-	$	10,173,470	$	-	$	10,173,470
	Margin receivables			$	5,748,626	$	-	$	5,748,626	$	-	$	5,748,626
	Loans receivable, net:
		One- to four-family		$	5,078,187	$	-	$	-	$	4,499,149	$	4,499,149
		Home equity			3,789,974		-		-		3,484,719		3,484,719
		Consumer and other			717,125		-		-		738,760		738,760
			Total loans receivable, net⁽¹⁾	$	9,585,286	$	-	$	-	$	8,722,628	$	8,722,628
	Investment in FHLB stock			$	61,400	$	-	$		$	61,400	$	61,400
Liabilities
	Deposits			$	25,877,748	$	-	$	25,878,474	$	-	$	25,878,474
	Securities sold under agreement to repurchase			$	4,459,421	$	-	$	4,497,790	$	-	$	4,497,790
	Customer payables			$	5,084,337	$	-	$	5,084,337	$	-	$	5,084,337
	FHLB advances and other borrowings			$	1,265,489	$	-	$	926,244	$	206,600	$	1,132,844
	Corporate debt			$	1,765,905	$	-	$	1,889,139	$	-	$	1,889,139


⁽¹⁾The carrying value of loans receivable, net includes the allowance for loan losses of $455.0 million and loans that are valued at fair value on a nonrecurring basis as of March 31, 2013.

				December 31, 2012
				Carrying Value		Level 1		Level 2		Level 3		Total Fair Value
Assets
	Cash and equivalents			$	2,761,494	$	2,761,494	$	-	$	-	$	2,761,494
	Cash required to be segregated under
		federal or other regulations		$	376,898	$	376,898	$	-	$	-	$	376,898
	Held-to-maturity securities:
		Agency mortgage-backed securities and CMOs		$	7,887,555	$	-	$	8,182,064	$	-	$	8,182,064
		Agency debentures			163,434		-		169,769		-		169,769
		Agency debt securities			1,488,959		-		1,558,663		-		1,558,663
			Total held-to-maturity securities	$	9,539,948	$	-	$	9,910,496	$	-	$	9,910,496
	Margin receivables			$	5,804,041	$	-	$	5,804,041	$	-	$	5,804,041
	Loans receivable, net:
		One- to four-family		$	5,281,702	$	-	$	-	$	4,561,821	$	4,561,821
		Home equity			4,002,486		-		-		3,551,357		3,551,357
		Consumer and other			814,535		-		-		838,721		838,721
			Total loans receivable, net⁽¹⁾	$	10,098,723	$	-	$	-	$	8,951,899	$	8,951,899
	Investment in FHLB stock			$	67,400	$	-	$	-	$	67,400	$	67,400
Liabilities
	Deposits			$	28,392,552	$	-	$	28,394,400	$	-	$	28,394,400
	Securities sold under agreement to repurchase			$	4,454,661	$	-	$	4,493,463	$	-	$	4,493,463
	Customer payables			$	4,964,922	$	-	$	4,964,922	$	-	$	4,964,922
	FHLB advances and other borrowings			$	1,260,916	$	-	$	926,750	$	196,765	$	1,123,515
	Corporate debt			$	1,764,982	$	-	$	1,837,736	$	-	$	1,837,736


⁽¹⁾The carrying value of loans receivable, net includes the allowance for loan loss of $480.7 million and loans that are valued at fair value on a nonrecurring basis as of December 31, 2012.

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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