Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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:

	Notional		Average		Weighted- average rate
	amount		maturity		Fixed			Variable
	(in thousands)		(in years)
June 30, 2013
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		4.2		4.42	%		1.27	%
December 31, 2012
Fair value hedges:
Fixed rate long-term borrowings (a)	$	900,000		4.4		6.07	%		1.85	%

(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, 2013		December 31, 2012		June 30, 2013		December 31, 2012
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	114,168		143,179	$	—		—
Commitments to sell real estate loans (a)		51,487		1,114		387		3,825
		165,655		144,293		387		3,825
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		16,109		48,056		8,701		197
Commitments to sell real estate loans (a)		39,193		1,982		14,154		6,570
Trading:
Interest rate contracts (b)		302,979		399,963		267,463		365,616
Foreign exchange and other option and futures contracts (b)		10,704		8,725		10,441		8,658
		368,985		458,726		300,759		381,041
Total derivatives	$	534,640		603,019	$	301,146		384,866

(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, 2013					Three months ended June 30, 2012
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(20,138	)		18,853	$	9,674			(9,168	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	2,228				$	2,080
Foreign exchange and other option and futures contracts (b)		(1,225	)				(2,435	)
Total	$	1,003				$	(355	)

	Amount of unrealized gain (loss) recognized
	Six months ended June 30, 2013					Six months ended June 30, 2012
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(29,011	)		27,753	$	2,645			(2,624	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	3,197				$	3,219
Foreign exchange and other option and futures contracts (b)		(1,608	)				(3,145	)
Total	$	1,589				$	74

(a) Reported as other revenues from operations.

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