Restrictions on Cash and Cash Equivalents

6 Months Ended

Jun. 30, 2019

Cash and Cash Equivalents [Abstract]

Restrictions on Cash and Cash Equivalents

Restrictions on Cash and Cash Equivalents

The Corporation’s subsidiary banks are required to maintain reserves against their deposit liabilities. These reserves are in the form of cash and balances with the Federal Reserve Bank ("FRB"), included in "interest-bearing deposits with other banks." The amounts of such reserves as of June 30, 2019 and December 31, 2018 were $186.6 million and $156.8 million, respectively.

In addition, collateral is posted by the Corporation with counterparties to secure derivative contracts and other contracts, which are included in "interest-bearing deposits with other banks." The amounts of such collateral as of June 30, 2019 and December 31, 2018 were $173.1 million and $45.1 million, respectively.