Derivative financial instruments (Tables)

9 Months Ended

Sep. 30, 2012

Information About Interest Rate Swap Agreements

Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows:

					Weighted-
	Notional		Average		average rate .
	amount		maturity		Fixed			Variable
	(in thousands)		(in years)
September 30, 2012
Fair value hedges:
Fixed rate long-term borrowings (a)	$	900,000		4.6		6.07	%		1.96	%
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
	September 30, 2012		December 31, 2011		September 30, 2012		December 31, 2011
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	153,220		147,302	$	—		—
Commitments to sell real estate loans (a)		127		232		16,804		2,287
		153,347		147,534		16,804		2,287
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		70,430		7,991		85		1,068
Commitments to sell real estate loans (a)		2,777		1,328		22,909		2,771
Trading:
Interest rate contracts (b)		441,467		443,033		410,929		415,836
Foreign exchange and other option and futures contracts (b)		13,462		19,115		13,383		18,723
		528,136		471,467		447,306		438,398
Total derivatives	$	681,483		619,001	$	464,110		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 September 30, 2012					Three months ended September 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)	$	3,273		(3,252	)	$	42,587		(40,355	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	777				$	2,425
Foreign exchange and other option and futures contracts (b)		74					1,764
Total	$	851				$	4,189

	Amount of unrealized gain (loss) recognized
	Nine months ended September 30, 2012						Nine months ended September 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)	$	5,918			(5,876	)	$	52,127		(49,452	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	3,996					$	3,901
Foreign exchange and other option and futures contracts (b)		(3,071	)					473
Total	$	925					$	4,374

(a) Reported as other revenues from operations.

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