OFFSETTING OF ASSETS AND LIABILITIES

9 Months Ended

Sep. 30, 2016

Text Block [Abstract]

OFFSETTING OF ASSETS AND LIABILITIES

NOTE 11–OFFSETTING OF ASSETS AND LIABILITIES

The Corporation enters into master agreements with counterparties, primarily related to derivatives and repurchase agreements, that may allow for netting of exposures in the event of default. In an event of default, each party has a right of set-off against the other party foramounts owed under the related agreement and any other amount or obligation owed in respect of any other agreement or transaction between them. The following table presents information about the offsetting of financial assets and liabilities as well as derivative assets and liabilities:

Offsetting of Financial Assets and Derivative Assets
							Gross Amounts Not Offset in the Statement of Financial Position
					Net Amounts of Assets Presented in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral
As of September 30, 2016											Net Amount
(In thousands)
Description
Derivatives	$	191	$	-	$	191	$	(191)	$	-	$	-
Securities purchased under agreements to resell		200,000		(200,000)		-		-		-		-
Total	$	200,191	$	(200,000)	$	191	$	(191)	$	-	$	-
							Gross Amounts Not Offset in the Statement of Financial Position
					Net Amounts of Assets Presented in the Statement of Financial Position
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral
As of December 31, 2015											Net Amount
(In thousands)
Description
Derivatives	$	806	$	-	$	806	$	(806)	$	-	$	-
Securities purchased under agreements to resell		200,000		(200,000)		-		-		-		-
Total	$	200,806	$	(200,000)	$	806	$	(806)	$	-	$	-

Offsetting of Financial Liabilities and Derivative Liabilities
							Gross Amounts Not Offset in the Statement of Financial Position
					Net Amounts of Liabilities Presented in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral
As of September 30, 2016											Net Amount
(In thousands)
Description
Securities sold under agreements to repurchase	$	500,000	$	(200,000)	$	300,000	$	(300,000)	$	-	$	-
							Gross Amounts Not Offset in the Statement of Financial Position
					Net Amounts of Liabilities Presented in the Statement of Financial Position
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statement of Financial Position
							Financial Instruments		Cash Collateral
As of December 31, 2015											Net Amount
(In thousands)
Description
Securities sold under agreements to repurchase	$	600,000	$	(200,000)	$	400,000	$	(400,000)	$	-	$	-