Derivative financial instruments (Tables)

6 Months Ended

Jun. 30, 2016

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, 2016
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		1.2		4.42	%		1.63	%
December 31, 2015
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		1.7		4.42	%		1.39	%

(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, 2016		December 31, 2015		June 30, 2016		December 31, 2015
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	33,648		43,892		—		—
Commitments to sell real estate loans (a)		71		1,844		8,545		656
		33,719		45,736		8,545		656
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		21,431		10,282		48		403
Commitments to sell real estate loans (a)		292		533		7,720		846
Trading:
Interest rate contracts (b)		401,512		203,517		345,681		153,723
Foreign exchange and other option and futures contracts (b)		7,975		8,569		6,860		7,022
		431,210		222,901		360,309		161,994
Total derivatives	$	464,929		268,637		368,854		162,650

(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 June 30, 2016					Three months ended June 30, 2015
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(7,611	)		7,146		(9,354	)		8,952
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	5,782					1,772
Foreign exchange and other option and futures contracts (b)		2,457					1,621
Total	$	8,239					3,393

	Amount of gain (loss) recognized
	Six months ended June 30, 2016					Six months ended June 30, 2015
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(10,244	)		9,016		(9,750	)		9,113
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	6,756					2,432
Foreign exchange and other option and futures contracts (b)		3,669					4,410
Total	$	10,425					6,842

(a) Reported as other revenues from operations.

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