DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional or contractual amounts and fair values for derivatives

The following table presents the total notional and fair values of the Company’s derivatives as of March 31, 2016 and December 31, 2015:

($ in thousands)	March 31, 2016						December 31, 2015
	Notional Amount		Fair Value				Notional Amount		Fair Value
			Derivative Assets (1)		Derivative Liabilities (1)				Derivative Assets (1)		Derivative Liabilities (1)
Derivatives designated as hedging instruments:
Interest rate swaps on certificates of deposit	$	73,496	$	54	$	1,038	$	112,913	$	—	$	5,213
Foreign currency forward contracts	85,451		—		430		86,590		2,365		—
Total derivatives designated as hedging instruments	$	158,947	$	54	$	1,468	$	199,503	$	2,365	$	5,213
Derivatives not designated as hedging instruments:
Interest rate swaps and options	$	6,685,066	$	129,599	$	130,420	$	6,494,900	$	67,215	$	67,325
Foreign exchange contracts	724,894		8,817		6,196		652,993		10,254		9,350
RPAs	42,096		—		11		43,033		—		4
Total derivatives not designated as hedging instruments	$	7,452,056	$	138,416	$	136,627	$	7,190,926	$	77,469	$	76,679

(1) Derivative assets are included in Other assets in the Consolidated Balance Sheets. Derivative liabilities are included in Accrued expenses and other liabilities and Interest-bearing deposits in the Consolidated Balance Sheets.

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

The following table presents the net gains (losses) recognized in the Consolidated Statements of Income related to derivatives designated as fair value hedges for the three months ended March 31, 2016 and 2015:

($ in thousands)	Three Months Ended March 31,
	2016			2015
Gains (losses) recorded in interest expense:
Recognized on interest rate swaps	$	4,229		$	3,048
Recognized on certificates of deposit	(3,356		)	(2,695		)
Net amount recognized on fair value hedges (ineffective portion)	$	873		$	353

Gains (losses) related to net investment hedges in accumulated other comprehensive income (loss) and Statement of Income

The following table presents the losses recorded in the Foreign currency translation account within AOCI related to the effective portion of the net investment hedges and ineffectiveness recorded in the Consolidated Statements of Income for the three months ended March 31, 2016 and 2015:

($ in thousands)	Three Months Ended March 31,
	2016		2015
Losses recognized in AOCI on net investment hedges (effective portion)	$	1,485	$	—
Losses recognized in Foreign exchange income (ineffective portion)	$	880	$	—

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

The following table presents the net gains (losses) recognized on the Company’s Consolidated Statements of Income related to derivatives not designated as hedging instruments for the three months ended March 31, 2016 and 2015:

($ in thousands)	Location in Consolidated Statements of Income	Three Months Ended March 31,
		2016			2015
Derivatives not designated as hedging instruments:
Interest rate swaps and options	Other fees and operating income	$	(711	)	$	(594	)
Foreign exchange contracts	Foreign exchange income	2,828			1,308
RPA	Other fees and operating income	(11		)	—
Foreign exchange options	Foreign exchange income	—			199
Embedded derivative liabilities	Other operating expense	—			(141		)
Total net income		$	2,106		$	772

Balance sheet offsetting of derivative assets and liabilities and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities

The following tables present gross derivatives on the Consolidated Balance Sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities and/or cash. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability (after netting is applied); thus instances of overcollateralization are not shown:

($ in thousands)	As of March 31, 2016
	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts of Assets Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Assets							Financial Instruments				Collateral Received				Net Amount
Derivatives	$	6,470	$	—	$	6,470	$	(5,094	)	(1)	$	(1,093	)	(2)	$	283
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts of Liabilities Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Liabilities							Financial Instruments				Collateral  Posted				Net Amount
Derivatives	$	135,938	$	—	$	135,938	$	(5,094	)	(1)	$	(130,255	)	(3)	$	589

($ in thousands)	As of December 31, 2015
	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts of Assets Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Assets							Financial Instruments				Collateral Received				Net Amount
Derivatives	$	8,733	$	—	$	8,733	$	(5,293	)	(1)	$	(3,068	)	(2)	$	372
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts of Liabilities Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
Liabilities							Financial Instruments				Collateral  Posted				Net Amount
Derivatives	$	78,779	$	—	$	78,779	$	(5,293	)	(1)	$	(73,109	)	(3)	$	377

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

(2) Represents $1.1 million and $3.1 million of cash collateral received against derivative assets with the same counterparty that are subject to enforceable master netting arrangements as of March 31, 2016 and December 31, 2015, respectively.

(3) Represents cash and securities pledged against derivative liabilities with the same counterparty that are subject to enforceable master netting arrangements. Includes approximately $39.6 million and $21.1 million of cash collateral posted as of March 31, 2016 and December 31, 2015, respectively.