DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2015

DERIVATIVE FINANCIAL INSTRUMENTS

Total notional and fair values of derivatives

	Fair Values of Derivative Instruments
	March 31, 2015						December 31, 2014
			Fair Value						Fair Value
($ in thousands)	Notional Amount		Derivative Assets (1)		Derivative Liabilities (1)		Notional Amount		Derivative Assets (1)		Derivative Liabilities (1)
Derivatives designated as hedging instruments:
Interest rate swaps on certificates of deposit	$	129,096	$	—	$	6,370	$	132,667	$	—	$	9,922
Total derivatives designated as hedging instruments	$	129,096	$	—	$	6,370	$	132,667	$	—	$	9,922
Derivatives not designated as hedging instruments:
Foreign exchange options	$	50,000	$	3,683	$	—	$	85,614	$	6,136	$	—
Embedded derivative liabilities	47,794		—		3,412		47,838		—		3,392
Interest rate swaps and caps	5,204,760		66,060		66,914		4,858,391		41,534		41,779
Foreign exchange contracts	1,037,967		13,340		13,080		680,629		8,123		9,171
Total derivatives not designated as hedging instruments	$	6,340,521	$	83,083	$	83,406	$	5,672,472	$	55,793	$	54,342

(1) Derivative assets are included in Other Assets. Derivative liabilities are included in Accrued Expenses and Other liabilities, and Deposits.

Net gains (losses) recognized in the Income Statement related to derivatives in fair value hedging relationships

	Three Months Ended March 31,
($ in thousands)	2015		2014
Gains (losses) recorded in interest expense
Recognized on interest rate swaps	$	3,048	$	2,704
Recognized on certificates of deposits	(2,695)		(2,937		)
Net amount recognized on fair value hedges (ineffective portion)	$	353	$	(233	)
Reduction in interest expense recognized on interest rate swaps	$	920	$	1,824

Net gains (losses) recognized in the Income Statement related to derivatives not designated as hedging instruments

	Location in	Three Months Ended March 31,
	Consolidated
($ in thousands)	Statements of Income	2015		2014
Derivatives not designated as hedging instruments:
Foreign exchange options	Foreign exchange income	$	199	$	(119	)
Foreign exchange options with embedded derivatives	Other operating expense	(141)		1
Interest rate swaps and caps	Other operating income	(594)		(936		)
Foreign exchange contracts	Foreign exchange income	1,308		(2,129		)
Total net gains (losses)		$	772	$	(3,183	)

Balance sheet offsetting of derivative assets and liabilities

($ in thousands)	As of March 31, 2015
			Gross Amounts		Net Amounts of Assets Presented		Gross Amounts Not Offset on the Consolidated Balance Sheet
Assets	Gross Amounts of Recognized Assets		Offset on the Consolidated Balance Sheet		on the Consolidated Balance Sheet		Financial Instruments			Collateral Received			Net Amount
Derivatives	$	13,564	$	—	$	13,564	$	(6,002)	(1)	$	(6,480)	(2)	$	1,082
					Net Amounts of Liabilities		Gross Amounts Not Offset on the Consolidated Balance Sheet
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet		Presented on the Consolidated Balance Sheet		Financial Instruments			Collateral Posted			Net Amount
Derivatives	$	79,890	$	—	$	79,890	$	(6,002)	(1)	$	(72,018)	(3)	$	1,870
($ in thousands)	As of December 31, 2014
			Gross Amounts		Net Amounts of Assets Presented		Gross Amounts Not Offset on the Consolidated Balance Sheet
Assets	Gross Amounts of Recognized Assets		Offset on the Consolidated Balance Sheet		on the Consolidated Balance Sheet		Financial Instruments			Collateral Received			Net Amount
Derivatives	$	12,396	$	—	$	12,396	$	(5,725)	(1)	$	(3,463)	(2)	$	3,208
					Net Amounts of Liabilities		Gross Amounts Not Offset on the Consolidated Balance Sheet
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet		Presented on the Consolidated Balance Sheet		Financial Instruments			Collateral Posted			Net Amount
Derivatives	$	56,505	$	—	$	56,505	$	(5,725)	(1)	$	(49,951)	(3)	$	829

(1) Represents the netting of derivative receivable and payable balance for the same counterparty under enforceable master netting arrangements if the Company has elected to net.

(2) Represents $6.5 million and $3.5 million of cash collateral received against derivative assets with the same counterparty that are subject to enforceable master netting arrangements as of March 31, 2015 and December 31, 2014, respectively.

(3) Represents cash and securities pledged against derivative liabilities with the same counterparty that are subject to enforceable master netting arrangements. Includes approximately $19.0 million and $12.8 million of cash collateral posted as of March 31, 2015 and December 31, 2014, respectively.