Derivative financial instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative financial instruments [Abstract]

Information about interest rate swap agreements

	Notional amount		Average maturity		Weighted- average rate
					Fixed			Variable
	(in thousands)		(in years)
June 30, 2012
Fair value hedges:
Fixed rate long-term borrowings (a)	$	900,000		4.9		6.07	%		2.01	%
December 31, 2011
Fair value hedges:
Fixed rate long-term borrowings (a)	$	900,000		5.4		6.07	%		2.07	%

(a) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate.

Information about fair values of derivative instruments in consolidated balance sheet

Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows:

	Asset derivatives				Liability derivatives
	Fair value				Fair value
	June 30, 2012		December 31, 2011		June 30, 2012		December 31, 2011
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	149,947		147,302	$	—		—
Commitments to sell real estate loans (a)		446		232		5,274		2,287
		150,393		147,534		5,274		2,287
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		34,111		7,991		60		1,068
Commitments to sell real estate loans (a)		992		1,328		9,021		2,771
Trading:
Interest rate contracts (b)		439,617		443,033		409,653		415,836
Foreign exchange and other option and futures contracts (b)		19,628		19,115		20,448		18,723
		494,348		471,467		439,182		438,398
Total derivatives	$	644,741		619,001	$	444,456		440,685

(a) Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities.

(b) Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities.

Information about fair values of derivative instruments in consolidated statement of income

	Amount of unrealized gain (loss) recognized
	Three months ended June 30, 2012						Three months ended June 30, 2011
	Derivative			Hedged item			Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	9,674			(9,168	)	$	21,945			(21,145	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	2,080					$	1,001
Foreign exchange and other option and futures contracts (b)		(2,435	)					(743	)
Total	$	(355	)				$	258

	Amount of unrealized gain (loss) recognized
	Six months ended June 30, 2012						Six months ended June 30, 2011
	Derivative			Hedged item			Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	2,645			(2,624	)	$	9,540			(9,097	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	3,219					$	1,476
Foreign exchange and other option and futures contracts (b)		(3,145	)					(1,291	)
Total	$	74					$	185

(a) Reported as other revenues from operations.

(b) Reported as trading account and foreign exchange gains.