DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Composition Of Derivative Instruments And Fair Value

Composition of Derivative Instruments and Fair Value

(Amounts in thousands)


	Asset Derivatives										Liability Derivatives
	June 30, 2012					December 31, 2011					June 30, 2012					December 31, 2011
			Fair					Fair					Fair					Fair
	Notional ⁽¹⁾		Value			Notional ⁽¹⁾		Value			Notional ⁽¹⁾		Value			Notional ⁽¹⁾		Value
Derivatives designated as hedging instruments⁽²⁾:
Interest rate contracts	$	300,000	$	6,640		$	200,000	$	2,586		$	—	$	—		$	—	$	—

Derivatives not designated as hedging instruments:
Capital markets group derivatives⁽⁴⁾:
Interest rate contracts	$	3,294,148	$	105,879		$	2,985,774	$	104,482		$	3,294,148	$	109,766		$	2,985,774	$	107,612
Foreign exchange contracts		115,041		3,501			101,401		5,203			115,041		2,744			101,401		4,517
Credit contracts⁽¹⁾		43,070		14			43,218		12			146,092		44			94,921		32

Subtotal				109,394					109,697					112,554					112,161
Netting adjustments⁽³⁾				(6,781	)				(8,021	)				(6,781	)				(8,021	)

Total			$	102,613				$	101,676				$	105,773				$	104,140

Other derivatives⁽²⁾:
Foreign exchange contracts	$	—	$	—		$	8,217	$	196		$	354	$	2		$	3,883	$	26
Mortgage banking derivatives				286					563					289					683
Warrants				19					—					—					—

Subtotal				305					759					291					709

Total derivatives not designated as hedging instruments			$	102,918				$	102,435				$	106,064				$	104,849

Grand total derivatives			$	109,558				$	105,021				$	106,064				$	104,849

⁽¹⁾	The remaining average notional amounts are shown for credit contracts.

⁽²⁾	The fair value of derivative assets and liabilities designated as hedging instruments and other derivative assets and liabilities not designated as hedging instruments are reported in other assets and other liabilities on the Consolidated Statements of Financial Condition, respectively.

⁽³⁾

Represents netting of derivative asset and liability balances, and related cash collateral, with the same counterparty subject to master netting agreements. Authoritative accounting guidance permits the netting of derivative receivables and payables when a legally enforceable master netting agreement exists between the Company and a derivative counterparty. A master netting agreement is an agreement between two counterparties who have multiple derivative contracts with each other that provide for the net settlement of contracts through a single payment, in a single currency, in the event of default on or termination of any one contract.

⁽⁴⁾	Capital markets group asset and liability derivatives are reported separately on the Consolidated Statements of Financial Condition.

Derivatives Subject To Credit Risk Contingency Features


	June 30, 2012		December 31, 2011
Fair value of derivatives with credit contingency features in a net liability position	$	60,847	$	56,586
Collateral posted for those transactions in a net liability position	$	59,975	$	56,082
If credit risk contingency features were triggered:
Additional collateral required to be posted to derivative counterparties	$	225	$	321
Outstanding derivative instruments that would be immediately settled	$	54,911	$	48,677

Change In Accumulated Other Comprehensive Income Related To Interest Rate Swaps Designated As Cash Flow Hedge


	June 30, 2012
	Quarter Ended						Six Months Ended
	Pre-Tax			After-tax			Pre-Tax			After-tax
Unrealized gain at beginning of period	$	3,210		$	1,933		$	2,586		$	1,557
Amount of gain recognized in AOCI (effective portion)		5,233			3,167			6,379			3,857
Amount reclassified from AOCI to interest income on loans		(795	)		(482	)		(1,317	)		(796	)

Unrealized gain at end of period	$	7,648		$	4,618		$	7,648		$	4,618

Risk Participation Agreements


	June 30, 2012			December 31, 2011
Fair value of written RPAs	$	(44	)	$	(32	)
Range of remaining terms to maturity (in years)		Less than 1 to 5			Less than 1 to 4
Range of assigned internal risk ratings		2 to 4			3 to 4
Maximum potential amount of future undiscounted payments	$	5,798		$	3,075
Percent of maximum potential amount of future undiscounted payments covered by proceeds from liquidation of pledged collateral		66	%		55	%

Gain (Loss) Recognized On Derivative Instruments Not Designated In Hedging Relationship


	Quarters Ended June 30,					Six Months Ended June 30,
	2012		2011			2012			2011
Gain on derivatives recognized in capital markets products income:
Interest rate contracts	$	4,356	$	2,339		$	9,878		$	5,795
Foreign exchange contracts		1,510		1,535			3,202			2,535
Credit contracts		167		(3	)		302			30

Total capital markets group derivatives		6,033		3,871			13,382			8,360

Gain (loss) on other derivatives recognized in deposit service charges and fees and other income:
Foreign exchange derivatives		11		224			(171	)		86
Mortgage banking derivatives		40		59			117			128
Warrants		19		—			19			—

Total other derivatives		70		283			(35	)		214

Total derivatives	$	6,103	$	4,154		$	13,347		$	8,574