Derivatives (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional and fair values of derivatives

The following table presents the total notional and fair value of the Company’s derivatives as of September 30, 2017 and December 31, 2016:

($ in thousands)	September 30, 2017							December 31, 2016
	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	$	42,566		$	—	$	6,648	$	48,365	$	—	$	5,976
Foreign currency forward contracts	—			—		—		83,026		4,325		—
Total derivatives designated as hedging instruments	$	42,566		$	—	$	6,648	$	131,391	$	4,325	$	5,976
Derivatives not designated as hedging instruments:
Interest rate swaps and options	$	8,742,980		$	64,822	$	64,212	$	7,668,482	$	67,578	$	65,131
Foreign exchange contracts	1,131,414			14,187		20,054		767,764		11,874		11,213
RPAs	68,387			2		1		71,414		3		3
Warrants	—		(2)	1,455		—		—		—		—
Total derivatives not designated as hedging instruments	$	9,942,781		$	80,466	$	84,267	$	8,507,660	$	79,455	$	76,347

(1) Derivative assets and derivative liabilities are included in Other assets and Accrued expenses and other liabilities, respectively,on the Consolidated Balance Sheets.

(2) The Company held four warrants in public companies and 32 warrants in private companies as of September 30, 2017.

Schedule of net gains (losses) recognized on the Consolidated Statements of Income related to derivatives designated as fair value hedge

The following table presents the net gains (losses) recognized on the Consolidated Statements of Income related to the derivatives designated as fair value hedges for the three and nine months ended September 30, 2017 and 2016:

($ in thousands)	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Gains (losses) recorded in interest expense:
Recognized on interest rate swaps	$	37		$	(1,327	)	$	(1,486	)	$	3,044
Recognized on certificates of deposit	$	(116	)	$	674		$	1,236		$	(2,688	)

Schedule of gains (losses) related to net investment hedges in accumulated other comprehensive income (loss) and Consolidated Statements of Income

The following table presents the gains (losses) recorded in the Foreign currency translation adjustment account within AOCI related to the effective portion of the net investment hedges and the ineffective portion recorded on the Consolidated Statements of Income for the three and nine months ended September 30, 2017 and 2016:

($ in thousands)	Three Months Ended September 30,					Nine Months Ended September 30,
	2017		2016			2017			2016
Gains (losses) recognized in AOCI on net investment hedges (effective portion)	$	—	$	69		$	(648	)	$	296
Losses recognized in foreign exchange income (ineffective portion)	$	—	$	(236	)	$	(1,953	)	$	(667	)

Schedule of net gains (losses) recognized on the Consolidated Statements of Income 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 and nine months ended September 30, 2017 and 2016:

($ in thousands)	Location in Consolidated Statements of Income	Three Months Ended September 30,					Nine Months Ended September 30,
		2017			2016		2017			2016
Derivatives not designated as hedging instruments:
Interest rate swaps and options	Derivative fees and other income	$	(94	)	$	411	$	(1,838	)	$	(2,220	)
Foreign exchange contracts	Foreign exchange income	3,720			3,787		17,936			10,982
RPAs	Derivative fees and other income	—			4		1			(7		)
Warrants	Ancillary loan fees and other income	669			—		1,455			—
Net gains		$	4,295		$	4,202	$	17,554		$	8,755

Schedule of gross derivatives on the Consolidated Balance Sheets and the respective collateral received or pledged in the form of other financial instruments

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:

	As of September 30, 2017
($ in thousands)	Total		Contracts Not Subject to Master Netting Arrangements		Contracts Subject to Master Netting Arrangements
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
											Derivative Amount				Collateral Received				Net Amount
Derivatives Assets	$	80,466	$	57,720	$	22,746	$	—	$	22,746	$	(20,240	)	(1)	$	(2,230	)	(2)	$	276
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
											Derivative Amount				Collateral  Posted				Net Amount
Derivatives Liabilities	$	90,915	$	17,814	$	73,101	$	—	$	73,101	$	(20,240	)	(1)	$	(52,851	)	(3)	$	10

	As of December 31, 2016
($ in thousands)	Total		Contracts Not Subject to Master Netting Arrangements		Contracts Subject to Master Netting Arrangements
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
											Derivative Amounts				Collateral Received				Net Amount
Derivatives Assets	$	83,780	$	51,218	$	32,562	$	—	$	32,562	$	(20,991	)	(1)	$	(10,687	)	(2)	$	884
	Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Recognized		Gross Amounts Offset on the Consolidated Balance Sheets		Net Amounts Presented on the Consolidated Balance Sheets		Gross Amounts Not Offset on the Consolidated Balance Sheets
											Derivative Amounts				Collateral  Posted				Net Amount
Derivatives Liabilities	$	82,323	$	24,097	$	58,226	$	—	$	58,226	$	(20,991	)	(1)	$	(36,349	)	(3)	$	886

(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 cash and securities received against derivative assets with the same counterparty that are subject to enforceable master netting arrangements. No cash collateral was received as of September 30, 2017. Includes $8.1 million of cash collateral received as of December 31, 2016.

(3) Represents cash and securities pledged against derivative liabilities with the same counterparty that are subject to enforceable master netting arrangements. Includes $18.0 million and $170 thousand of cash collateral posted as of September 30, 2017 and December 31, 2016, respectively.