XML 20 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Assets and Liabilities Subject to Enforceable Master Netting Arrangements (Tables)
 3 Months Ended
Mar. 31, 2013
Offsetting [Abstract]  
Offsetting Liabilities
The following table presents the liabilities subject to an enforceable master netting arrangement or repurchase agreements as of March 31, 2013 and December 31, 2012. As of these dates, all of the Company's swap agreements with institutional counterparties were in a liability position. Therefore, there were no assets to be recognized in the consolidated statements of condition. The swap agreements we have with our commercial banking customers are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table.
 
 
 Gross
Amounts of
Recognized
Liabilities
 
 Gross Amounts
Offset in the
Statements of
Condition
 
 Net Amounts
of Liabilities
Presented in the
Statements of Condition
 
 Gross Amounts Not Offset in the Statements of Condition
 
 
(dollars in thousands)
 
 
 
 
 Financial
Instruments
 
 Cash Collateral
Pledged
 
 Net Amount
March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Agreements:
 
 
 
 
 
 
 
 
 
 
 
 
    Institutional Counterparties
(a)
$
29,917

 
$
—

 
$
29,917

 
$
(29,917
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Repurchase Agreements:
 
 
 
 
 
 
 
 
 
 
 
 
    Private Institutions
(b)
600,000

 
—

 
600,000

 
(600,000
)
 
—

 
—

    Government Entities
(c)
148,718

 
—

 
148,718

 
(148,718
)
 
—

 
—

 
 
$
748,718

 
$
—

 
$
748,718

 
$
(748,718
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Agreements:
 
 
 
 
 
 
 
 
 
 
 
 
    Institutional Counterparties
(a)
$
32,441

 
$
—

 
$
32,441

 
$
(32,441
)
 
$
—

 
$
—

 
 
 
 
 
 

 
 
 
 
 

Repurchase Agreements:
 
 
 
 
 

 
 
 
 
 
 
    Private Institutions
(b)
600,000

 
—

 
600,000

 
(600,000
)
 
—

 
—

    Government Entities
(c)
158,947

 
—

 
158,947

 
(158,947
)
 
—

 
—

 
 
$
758,947

 
$
—

 
$
758,947

 
$
(758,947
)
 
$
—

 
$
—

(a) As of March 31, 2013 and December 31, 2012, all of the Company's swap agreements with institutional counterparties were in a liability position. Therefore, there were no assets to be recognized in the consolidated statements of condition.
(b) As of March 31, 2013 and December 31, 2012, the fair value of securities pledged was $0.7 billion and $0.8 billion, respectively.
(c) The investment securities pledged to each government entity collectively secure both deposits as well as repurchase agreements. The Company had government entity deposits totaling $1.1 billion and $1.4 billion as of March 31, 2013 and December 31, 2012, respectively. The investment securities pledged as of March 31, 2013 and December 31, 2012 had a fair value of $1.8 billion and $2.2 billion, respectively.