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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instrument Detail [Abstract]  
Derivative Contracts [Table Text Block]
The following table summarizes the fair values of derivative contracts recorded as “derivative contracts” assets and liabilities in the balance sheet at December 31, 2019 (in thousands):
 
 
Assets
 
 
Notional1
 
Gross Fair Value
 
Netting Adjustments
 
Net Fair Value Before Cash Collateral
 
Cash Collateral
 
Fair Value Net of Cash Collateral
Customer risk management programs:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest rate swaps
 
2,464,478

 
49,100

 
(1,839
)
 
47,261

 
—

 
47,261

Energy contracts
 
2,151,096

 
144,906

 
(107,591
)
 
37,315

 
(38
)
 
37,277

Agricultural contracts
 
16,118

 
1,522

 
(22
)
 
1,500

 
—

 
1,500

Foreign exchange contracts
 
214,119

 
213,007

 
—

 
213,007

 
—

 
213,007

Equity option contracts
 
81,455

 
3,233

 
—

 
3,233

 
(660
)
 
2,573

Total customer risk management programs
 
4,927,266

 
411,768

 
(109,452
)
 
302,316

 
(698
)
 
301,618

Trading
 
69,721,932

 
131,561

 
(115,949
)
 
15,612

 
—

 
15,612

Interest rate risk management programs
 
1,268,180

 
6,226

 
(81
)
 
6,145

 
—

 
6,145

Total derivative contracts
 
$
75,917,378

 
$
549,555

 
$
(225,482
)
 
$
324,073

 
$
(698
)
 
$
323,375

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
Notional¹
 
Gross Fair Value
 
Netting Adjustments
 
Net Fair Value Before Cash Collateral
 
Cash Collateral
 
Fair Value Net of Cash Collateral
Customer risk management programs:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest rate swaps
 
2,464,478

 
49,194

 
(1,839
)
 
47,355

 
(43,932
)
 
3,423

Energy contracts
 
2,105,391

 
139,311

 
(107,591
)
 
31,720

 
(6,031
)
 
25,689

Agricultural contracts
 
16,139

 
1,507

 
(22
)
 
1,485

 
(1,485
)
 
—

Foreign exchange contracts
 
207,919

 
207,020

 
—

 
207,020

 
—

 
207,020

Equity option contracts
 
81,455

 
3,233

 
—

 
3,233

 
—

 
3,233

Total customer risk management programs
 
4,875,382

 
400,265

 
(109,452
)
 
290,813

 
(51,448
)
 
239,365

Trading
 
65,144,388

 
125,535

 
(115,949
)
 
9,586

 
—

 
9,586

Interest rate risk management programs
 
380,401

 
3,121

 
(81
)
 
3,040

 
(863
)
 
2,177

Total derivative contracts
 
$
70,400,171

 
$
528,921

 
$
(225,482
)
 
$
303,439

 
$
(52,311
)
 
$
251,128


1 
Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.

The following table summarizes the fair values of derivative contracts recorded as “derivative contracts” assets and liabilities in the balance sheet at December 31, 2018 (in thousands):
 
 
Assets
 
 
Notional1
 
Gross Fair Value
 
Netting Adjustments
 
Net Fair Value Before Cash Collateral
 
Cash Collateral
 
Fair Value Net of Cash Collateral
Customer risk management programs:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
10,671,151

 
$
92,231

 
$
(26,787
)
 
$
65,444

 
$
—

 
$
65,444

Interest rate swaps
 
1,924,131

 
36,112

 
(6,688
)
 
29,424

 
(7,934
)
 
21,490

Energy contracts
 
1,472,209

 
206,418

 
(60,983
)
 
145,435

 
(106,752
)
 
38,683

Agricultural contracts
 
21,210

 
842

 
(201
)
 
641

 
—

 
641

Foreign exchange contracts
 
184,990

 
183,759

 
—

 
183,759

 
—

 
183,759

Equity option contracts
 
89,085

 
2,021

 
—

 
2,021

 
(648
)
 
1,373

Total customer risk management programs
 
14,362,776

 
521,383

 
(94,659
)
 
426,724

 
(115,334
)
 
311,390

Trading
 
15,356,909

 
45,346

 
(39,521
)
 
5,825

 
—

 
5,825

Internal risk management programs
 
553,079

 
5,064

 
(1,350
)
 
3,714

 
—

 
3,714

Total derivative contracts
 
$
30,272,764

 
$
571,793

 
$
(135,530
)
 
$
436,263

 
$
(115,334
)
 
$
320,929

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
Notional¹
 
Gross Fair Value
 
Netting Adjustments
 
Net Fair Value Before Cash Collateral
 
Cash Collateral
 
Fair Value Net of Cash Collateral
Customer risk management programs:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
10,558,151

 
$
90,388

 
$
(26,787
)
 
$
63,601

 
$
(63,596
)
 
$
5

Interest rate swaps
 
1,924,131

 
36,288

 
(6,688
)
 
29,600

 
(4,110
)
 
25,490

Energy contracts
 
1,434,247

 
202,494

 
(60,983
)
 
141,511

 
(1,490
)
 
140,021

Agricultural contracts
 
21,214

 
812

 
(201
)
 
611

 
—

 
611

Foreign exchange contracts
 
177,423

 
175,922

 
—

 
175,922

 
—

 
175,922

Equity option contracts
 
89,085

 
2,021

 
—

 
2,021

 
—

 
2,021

Total customer risk management programs
 
14,204,251

 
507,925

 
(94,659
)
 
413,266

 
(69,196
)
 
344,070

Trading
 
19,374,294

 
56,983

 
(39,521
)
 
17,462

 
—

 
17,462

Internal risk management programs
 
260,348

 
9,439

 
(1,350
)
 
8,089

 
(7,315
)
 
774

Total derivative contracts
 
$
33,838,893

 
$
574,347

 
$
(135,530
)
 
$
438,817

 
$
(76,511
)
 
$
362,306

1 
Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.
Derivative Instruments, Gain (Loss) in Statement of Earnings [Table Text Block]
The following summarizes the pre-tax net gains (losses) on derivative instruments and where they are recorded in the Consolidated Statements of Earnings (in thousands):
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
 
 
Brokerage
and Trading Revenue
 
Gain (Loss)
on Derivatives, Net
 
Brokerage
and Trading
Revenue
 
Gain (Loss)
on Derivatives,
Net
 
Brokerage
and Trading
Revenue
 
Gain (Loss)
on Derivatives,
Net
Customer risk management programs:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
9,579

 
$
—

 
$
27,190

 
$
—

 
$
34,532

 
$
—

Interest rate swaps
 
3,647

 
—

 
2,614

 
—

 
2,647

 
—

Energy contracts
 
5,064

 
—

 
8,443

 
—

 
5,536

 
—

Agricultural contracts
 
28

 
—

 
53

 
—

 
79

 
—

Foreign exchange contracts
 
623

 
—

 
535

 
—

 
1,352

 
—

Equity option contracts
 
—

 
—

 
—

 
—

 
—

 
—

Total customer risk management programs
 
18,941

 
—

 
38,835

 
—

 
44,146

 
—

Trading
 
13,999

 
—

 
(13,643
)
 
—

 
4,615

 
—

Internal risk management programs
 
—

 
14,951

 
—

 
(422
)
 
—

 
779

Total derivative contracts
 
$
32,940

 
$
14,951

 
$
25,192

 
$
(422
)
 
$
48,761

 
$
779