DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2012

DERIVATIVE FINANCIAL INSTRUMENTS

Fair values of derivative instruments

	Fair Values of Derivative Instruments
	March 31, 2012						December 31, 2011
	Notional		Derivative		Derivative		Notional		Derivative		Derivative
	Amount		Assets (1)		Liabilities (1)		Amount		Assets (1)		Liabilities (1)
	(In thousands)
Derivatives designated as hedging instruments:
Interest rate swaps on certificates of deposit—fair value	$	200,000	$	766	$	1,109	$	200,000	$	998	$	639
Total derivatives designated as hedging instruments	$	200,000	$	766	$	1,109	$	200,000	$	998	$	639
Derivatives not designated as hedging instruments:
Equity swap agreements	$	22,709	$	204	$	204	$	22,709	$	202	$	204
Foreign exchange options	85,614		4,695		2,918		85,614		3,899		2,430
Interest rate swaps	533,735		17,666		17,999		485,196		19,476		19,924
Short-term foreign exchange contracts	200,898		2,045		1,561		210,295		1,403		967
Short-term call option	150,000		—		1,500		—		—		—
Total derivatives not designated as hedging instruments	$	992,956	$	24,610	$	24,182	$	803,814	$	24,980	$	23,525

(1)Derivative assets, which are a component of other assets, include the estimated  settlement of the derivative asset position. Derivative liabilities, which are a component of other liabilities and deposits, include the estimated settlement of the derivative liability position.

Gains (losses) on derivative instruments

		Three Months Ended
	Location in	March 31,
	Condensed Consolidated
	Statements of Income	2012		2011
		(In thousands)
Derivatives designated as hedging instruments
Interest rate swaps on certificates of deposit—fair value
	Interest expense	$	703	$	—
	Total net income	$	703	$	—
Derivatives not designated as hedging instruments
Equity swap agreements	Noninterest expense	$	2	$	2
Foreign exchange options	Noninterest income	253		(109		)
Foreign exchange options	Noninterest expense	55		18
Interest rate swaps	Noninterest income	115		(60		)
Short-term foreign exchange contracts	Noninterest income	48		8
Short-term call option		—		—
	Total net income (expense)	$	473	$	(141	)