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Fair value measurement (Tables)
9 Months Ended
Sep. 30, 2011
Assets and Liabilities Measured at Fair Value on a Recurring Basis
At December 31, 2010
       Balance at
(In thousands)Level 1Level 2Level 3December 31, 2010
         
Assets         
Investment securities available-for-sale:        
U.S. Treasury securities$ -$ 38,136$ -$ 38,136
Obligations of U.S. Government sponsored entities  -  1,211,304  -  1,211,304
Obligations of Puerto Rico, States and political subdivisions  -  52,702  -  52,702
Collateralized mortgage obligations - federal agencies  -  1,238,294  -  1,238,294
Collateralized mortgage obligations - private label  -  84,938  -  84,938
Mortgage-backed securities  -  2,568,396  7,759  2,576,155
Equity securities  3,952  5,523  -  9,475
Other  -  25,848  -  25,848
Total investment securities available-for-sale$ 3,952$ 5,225,141$ 7,759$ 5,236,852
         
Trading account securities, excluding derivatives:        
Obligations of Puerto Rico, States and political subdivisions$ -$ 16,438$ -$ 16,438
Collateralized mortgage obligations  -  769  2,746  3,515
Residential mortgage-backed securities - federal agencies  -  472,806  20,238  493,044
Other  -  30,423  2,810  33,233
Total trading account securities $ -$ 520,436$ 25,794$ 546,230
Mortgage servicing rights$ -$ -$ 166,907$ 166,907
Derivatives   -  72,993  -  72,993
Total$ 3,952$ 5,818,570$ 200,460$ 6,022,982
         
Liabilities        
Derivatives$ -$ (76,344)$ -$ (76,344)
Trading liabilities  -  (10,459)  -  (10,459)
Equity appreciation instrument  -  (9,945)  -  (9,945)
Total $ -$ (96,748)$ -$ (96,748)

At September 30, 2010
       Balance at
(In thousands)Level 1Level 2Level 3September 30, 2010
         
Assets         
Investment securities available-for-sale:        
U.S. Treasury securities$ -$ 39,423$-$ 39,423
Obligations of U.S. Government sponsored entities  -  1,396,960 -  1,396,960
Obligations of Puerto Rico, States and political subdivisions  -  53,324 -  53,324
Collateralized mortgage obligations - federal agencies  -  1,347,041 -  1,347,041
Collateralized mortgage obligations - private label  -  95,390 -  95,390
Mortgage-backed securities  -  2,774,835  7,816  2,782,651
Equity securities  3,571  5,273 -  8,844
Other  -  17,850 -  17,850
Total investment securities available-for-sale$ 3,571$ 5,730,096$ 7,816$ 5,741,483
         
Trading account securities, excluding derivatives:        
Obligations of Puerto Rico, States and political subdivisions$ -$ 17,063$ -$ 17,063
Collateralized mortgage obligations  -  843  2,753  3,596
Residential mortgage-backed securities - federal agencies  -  426,321  24,159  450,480
Other  -  9,013  2,870  11,883
Total trading account securities $ -$ 453,240$ 29,782$ 483,022
Mortgage servicing rights$ -$ -$ 165,947$ 165,947
Derivatives   -  85,350  -  85,350
Total$ 3,571$ 6,268,686$ 203,545$ 6,475,802
         
Liabilities        
Derivatives$ -$ (91,332)$ -$ (91,332)
Equity appreciation instrument  -  (17,465)  -  (17,465)
Total $ -$ (108,797)$ -$ (108,797)
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis
At September 30, 2011
       Balance at
(In thousands)Level 1Level 2Level 3September 30, 2011
         
Assets         
Investment securities available-for-sale:        
U.S. Treasury securities$ -$ 38,898$ -$ 38,898
Obligations of U.S. Government sponsored entities  -  984,685  -  984,685
Obligations of Puerto Rico, States and political subdivisions  -  56,436  -  56,436
Collateralized mortgage obligations - federal agencies  -  1,756,647  -  1,756,647
Collateralized mortgage obligations - private label  -  65,250  -  65,250
Mortgage-backed securities  -  2,284,749  7,492  2,292,241
Equity securities  2,710  3,361  -  6,071
Other  -  26,301  -  26,301
Total investment securities available-for-sale$ 2,710$ 5,216,327$ 7,492$ 5,226,529
         
Trading account securities, excluding derivatives:        
Obligations of Puerto Rico, States and political subdivisions$ -$ 5,543$ -$ 5,543
Collateralized mortgage obligations  -  709  2,571  3,280
Residential mortgage-backed securities - federal agencies  -  218,452  22,477  240,929
Other  -  19,092  4,091  23,183
Total trading account securities $ -$ 243,796$ 29,139$ 272,935
Mortgage servicing rights$ -$ -$ 157,226$ 157,226
Derivatives   -  67,586  -  67,586
Total$ 2,710$ 5,527,709$ 193,857$ 5,724,276
         
Liabilities        
Derivatives$ -$ (71,165)$ -$ (71,165)
Total $ -$(71,165)$ -$(71,165)

 Quarter ended September 30, 2011 
              Changes in
              unrealized
              gains
              (losses)
              included in
    Gains        earnings/OCI
    (losses)         related to
    included        assets still
  Balance at in       Balance held at
  June 30,earnings/      at September 30,September 30,
(In millions)2011OCI PurchasesSalesSettlements20112011
Assets               
Investment securities available-for-sale:               
Mortgage-backed securities$ 8$ -$ -$ -$ -$ 8$ - 
Total investment securities available-for-               
 sale$ 8$ -$ -$ -$ -$ 8$ - 
Trading account securities:               
Collateralized mortgage obligations$ 3$ -$ -$ -$ -$ 3$ - 
Residential mortgage- backed securities -                
 federal agencies  27  (1)  1  (5)  -  22  - 
Other  3  -  2  (1)  -  4  - 
Total trading account securities$ 33$ (1)$ 3$ (6)$ -$ 29$ -[a]
Mortgage servicing rights$ 163$ (11)$ 5$ -$ -$ 157$ (6)[b]
Total $ 204$(12)$ 8$(6)$0$ 194$(6) 

 Nine months ended September 30, 2011 
              Changes in
              unrealized
              gains
              (losses)
              included in
    Gains        earnings/OCI
    (losses)         related to
    included        assets still
  Balance at in       Balance held at
  December 31,earnings/      at September 30,September 30,
(In millions)2010OCI PurchasesSalesSettlements20112011
Assets               
Investment securities available-for-sale:               
Mortgage-backed securities$ 8$ -$ -$ -$ -$ 8$ - 
Total investment securities available-for-               
 sale$ 8$ -$ -$ -$ -$ 8$ - 
Trading account securities:               
Collateralized mortgage obligations$ 3$ -$ -$ -$ -$ 3$ - 
Residential mortgage- backed securities -                
 federal agencies  20  -  11  (8)  (1)  22  - 
Other  3  -  3  (2)  -  4  1 
Total trading account securities$ 26$ -$ 14$ (10)$ (1)$ 29$ 1[a]
Mortgage servicing rights$ 167$ (27)$ 17$ -$ -$ 157$ (14)[b]
Total $ 201$ (27)$ 31$ (10)$ (1)$ 194$ (13) 

 Quarter ended September 30, 2010 
                  Changes in
                  unrealized
                  gains
                  (losses)
                  included in
    Gains            earnings/OCI
    (losses)             related to
    included            assets still
  Balance at in         TransfersBalance atheld at
  June 30,earnings/        in (out) of September 30,September 30,
(In millions)2010OCI IssuancesPurchasesSalesSettlementsLevel 320102010
Assets                   
Investment securities available-for-sale:                   
Mortgage-backed securities$ 32$ -$ -$ 1$ -$ -$ (25)$ 8$ - 
Total investment securities available-for-                   
 sale$ 32$ -$ -$ 1$ -$ -$ (25)$ 8$ - 
Trading account securities:                   
Collateralized mortgage obligations$ 3$ -$ -$ -$ -$ -$ -$ 3$ - 
Residential mortgage- backed securities -                    
 federal agencies  114  1  -  8  (8)  (3)  (88)  24  - 
Other  3  -  -  -  -  -  -  3  - 
Total trading account securities$ 120$ 1$ -$ 8$ (8)$ (3)$ (88)$ 30$ -[a]
Mortgage servicing rights$ 172$ (10)$ -$ 4$ -$ -$ -$ 166$ (6)[b]
Total $ 324$ (9)$ -$ 13$ (8)$ (3)$ (113)$ 204$ (6) 

 Nine months ended September 30, 2010 
                  Changes in
                  unrealized
                  gains
                  (losses)
                  included in
    Gains            earnings/OCI
    (losses)             related to
    included            assets still
  Balance at in         TransfersBalance atheld at
  December 31,earnings/        in (out) ofSeptember 30,September 30,
(In millions)2009OCI IssuancesPurchasesSalesSettlementsLevel 320102010
Assets                   
Investment securities available-for-sale:                   
Mortgage-backed securities$ 34$ 1$ 3$ -$ -$ (3)$ (27)$ 8$ - 
Total investment securities available-for-                   
 sale$ 34$ 1$ 3$ -$ -$ (3)$ (27)$ 8$ - 
Trading account securities:                   
Collateralized mortgage obligations$ 3$ -$ -$ -$ -$ -$ -$ 3$ - 
Residential mortgage- backed securities -                    
 federal agencies  224  4  -  22  (45)  (11)  (170)  24  - 
Other  3  -  -  1  (1)  -  -  3  - 
Total trading account securities$ 230$ 4$ -$ 23$ (46)$ (11)$ (170)$ 30$ -[a]
Mortgage servicing rights$ 170$ (20)$ -$ 16$ -$ -$ -$ 166$ (12)[b]
Total $ 434$ (15)$ 3$ 39$ (46)$ (14)$ (197)$ 204$ (12) 
Gains and Losses (Realized and Unrealized) Included in Earnings for Level 3 Assets and Liabilities
 Quarter ended September 30, 2011Nine months ended September 30, 2011
   Changes in unrealized to   Changes in unrealized to
 Total gainsgains (losses) relating Total gainsgains (losses) relating
 (losses) includedassets still held at(losses) includedassets still held at
(In millions)in earningsreporting datein earningsreporting date
Other service fees$ (11)$ (6)$ (27)$ (14)
Trading account profit   (1)  -  -  1
Total $(12)$(6)$(27)$(13)

 Quarter ended September 30, 2010Nine months ended September 30, 2010
   Changes in unrealized to   Changes in unrealized to
 Total gainsgains (losses) relating Total gainsgains (losses) relating
 (losses) includedassets still held at(losses) includedassets still held at
(In millions)in earningsreporting datein earningsreporting date
OCI$ -$ -$ 1$ -
Other service fees (10) (6) (20) (12)
Trading account profit  1 0 4 0
Total $(9)$(6)$(15)$(12)
Aggregate Fair Value Measurements of Assets
Carrying value at September 30, 2011  
(In millions)Level 1 Level 2 Level 3 Total Write-downs
Loans[1] -  -$ 110$110$ (17)
Loans held-for-sale [2] -  -  84 84  (29)
Other real estate owned [3] -  -  24 24  (12)
Total -  -$ 218$218$ (58)

Carrying value at September 30, 2010  
(In millions)Level 1 Level 2 Level 3 Total Write-downs
Loans[1] -  -$ 649$ 649$ (263)
Loans held-for-sale[2] -  -  2  2  (11)
Other real estate owned[3] -  -  55  55  (25)
Total -  -$ 706$ 706$ (299)