Derivative financial instruments (Tables)

9 Months Ended

Sep. 30, 2015

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, 2015
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		1.9		4.42	%		1.29	%
December 31, 2014
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		2.7		4.42	%		1.19	%

(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, 2015		December 31, 2014		September 30, 2015		December 31, 2014
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	60,782		73,251	$	—		—
Commitments to sell real estate loans (a)		899		728		5,142		4,217
		61,681		73,979		5,142		4,217
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		17,832		17,396		185		49
Commitments to sell real estate loans (a)		26		754		4,162		4,330
Trading:
Interest rate contracts (b)		268,332		215,614		221,626		173,513
Foreign exchange and other option and futures contracts (b)		13,404		31,112		11,380		29,950
		299,594		264,876		237,353		207,842
Total derivatives	$	361,275		338,855	$	242,495		212,059

(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 gain (loss) recognized
	Three months ended September 30, 2015					Three months ended September 30, 2014
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(2,719	)		2,382	$	(16,792	)		16,380
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	4,120				$	132
Foreign exchange and other option and futures contracts (b)		2,441					(781	)
Total	$	6,561				$	(649	)

	Amount of gain (loss) recognized
	Nine months ended September 30, 2015					Nine months ended September 30, 2014
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(12,469	)		11,495	$	(26,627	)		25,658
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	6,552				$	1,214
Foreign exchange and other option and futures contracts (b)		1,563					(6,597	)
Total	$	8,115				$	(5,383	)