DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING (Tables)

9 Months Ended

Sep. 30, 2013

DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING

Fair values of derivative instruments

	Fair Values of Derivative Instruments
	September 30, 2013						December 31, 2012
	Notional Amount		Derivative Assets (1)		Derivative Liabilities (1)		Notional Amount		Derivative Assets (1)		Derivative Liabilities (1)
	(In thousands)
Derivatives designated as hedging instruments:
Interest rate swaps on certificates of deposit—fair value	$	105,000	$	—	$	8,312	$	50,000	$	—	$	1,521
Total derivatives designated as hedging instruments	$	105,000	$	—	$	8,312	$	50,000	$	—	$	1,521
Derivatives not designated as hedging instruments:
Foreign exchange options	$	85,614	$	5,955	$	3,511	$	85,614	$	5,011	$	3,052
Interest rate swaps	1,496,204		25,931		24,675		1,190,793		36,943		36,799
Short-term foreign exchange contracts	291,876		4,068		2,054		112,459		896		688
Total derivatives not designated as hedging instruments	$	1,873,694	$	35,954	$	30,240	$	1,388,866	$	42,850	$	40,539

(1) Derivative assets, which are a component of other assets, include the estimated settlement of the derivative asset position. Derivative liabilities, which are a component of other liabilities and deposits, include the estimated settlement of the derivative liability position.

Gains (losses) on derivative instruments

	Location in	Three Months Ended						Nine Months Ended
	Condensed Consolidated	September 30,						September 30,
	Statements of Income	2013			2012			2013			2012
		(In thousands)
Derivatives designated as hedging instruments
Interest rate swaps on certificates of deposit—fair value	Interest expense	$	(1,481	)	$	(741	)	$	(6,196	)	$	(399	)
	Total net (expense) income	$	(1,481	)	$	(741	)	$	(6,196	)	$	(399	)
Derivatives not designated as hedging instruments
Equity swap agreements	Noninterest expense	$	—		$	—		$	—		$	2
Foreign exchange options	Noninterest income	234			(28		)	472			83
Foreign exchange options	Noninterest expense	7			16			13			90
Interest rate swaps	Noninterest income	(968		)	296			1,112			(12		)
Short-term foreign exchange contracts	Noninterest income	2,568			(20		)	1,806			131
	Total net income (expense)	$	1,841		$	264		$	3,403		$	294

Schedule of gross derivatives, resale agreements, repurchase agreements and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities

	As of September 30, 2013
	(In thousands)
			Gross Amounts Offset in the Condensed		Net Amounts of Assets		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amounts of Recognized Assets		Consolidated  Balance Sheets		Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Collateral Received			Net Amount
Assets
Derivatives	$	8,224	$	—	$	8,224	$	(5,363	)	$	(2,861	)	$	—
Resale Agreements	$	1,400,000	$	—	$	1,400,000	$	(545,000	)	$	(855,000	)	$	—
	Gross Amounts of		Gross Amounts Offset in the Condensed		Net Amounts of Liabilities		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Recognized Liabilities		Consolidated  Balance Sheets		Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Collateral Posted			Net Amount
Liabilities
Derivatives	$	29,722	$	—	$	29,722	$	(5,363	)	$	(24,359)		$	—
Repurchase Agreements	$	995,000	$	—	$	995,000	$	(545,000	)	$	(450,000	)	$	—
	As of December 31, 2012
	(In thousands)
			Gross Amounts Offset in the Condensed		Net Amounts of Assets		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Gross Amounts of Recognized Assets		Consolidated  Balance Sheets		Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Collateral Received			Net Amount
Assets
Derivatives	$	992	$	—	$	992	$	(366	)	$	(626	)	$	—
Resale Agreements	$	1,750,000	$	—	$	1,750,000	$	(545,000	)	$	(1,205,000	)	$	—
	Gross Amounts of		Gross Amounts Offset in the Condensed		Net Amounts of Liabilities		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	Recognized Liabilities		Consolidated  Balance Sheets		Presented in the Condensed Consolidated Balance Sheets		Financial Instruments			Collateral Posted			Net Amount
Liabilities
Derivatives	$	38,513	$	—	$	38,513	$	(366	)	$	(38,147	)	$	—
Repurchase Agreements	$	995,000	$	—	$	995,000	$	(545,000	)	$	(450,000	)	$	—