Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 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 amount		Average maturity		Weighted- average rate
					Fixed			Variable
	(in thousands)		(in years)
September 30, 2013
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		3.9		4.42	%		1.22	%
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
	September 30, 2013		December 31, 2012		September 30, 2013		December 31, 2012
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	114,083		143,179	$	—		—
Commitments to sell real estate loans (a)		2,477		1,114		11,665		3,825
		116,560		144,293		11,665		3,825
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		18,185		48,056		5,110		197
Commitments to sell real estate loans (a)		6,880		1,982		7,435		6,570
Trading:
Interest rate contracts (b)		285,442		399,963		248,311		365,616
Foreign exchange and other option and futures contracts (b)		13,451		8,725		13,138		8,658
		323,958		458,726		273,994		381,041
Total derivatives	$	440,518		603,019	$	285,659		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 September 30, 2013						Three months ended September 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)	$	(86	)		(20	)	$	3,273		(3,252	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	2,778					$	777
Foreign exchange and other option and futures contracts (b)		(862	)					74
Total	$	1,916					$	851

	Amount of unrealized gain (loss) recognized
	Nine months ended September 30, 2013					Nine months ended September 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)	$	(29,097	)		27,733	$	5,918			(5,876	)
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	5,974				$	3,996
Foreign exchange and other option and futures contracts (b)		(2,469	)				(3,071	)
Total	$	3,505				$	925

(a) Reported as other revenues from operations.

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