DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING (Tables)

3 Months Ended

Mar. 31, 2013

DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING

Fair values of derivative instruments

	Fair Values of Derivative Instruments
	March 31, 2013						December 31, 2012
	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	$	70,000	$	—	$	2,821	$	50,000	$	—	$	1,521
Total derivatives designated as hedging instruments	$	70,000	$	—	$	2,821	$	50,000	$	—	$	1,521
Derivatives not designated as hedging instruments:
Foreign exchange options	$	85,614	$	5,340	$	3,233	$	85,614	$	5,011	$	3,052
Interest rate swaps	1,244,393		34,192		33,832		1,190,793		36,943		36,799
Short-term foreign exchange contracts	138,940		1,303		1,138		112,459		896		688
Total derivatives not designated as hedging instruments	$	1,468,947	$	40,835	$	38,203	$	1,388,866	$	42,850	$	40,539

(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

	Location in	Three Months Ended
	Condensed Consolidated	March 31,
	Statements of Income	2013			2012
		(In thousands)
Derivatives designated as hedging instruments
Interest rate swaps on certificates of deposit—fair value	Interest expense	$	(905	)	$	(703	)
	Total net (expense) income	$	(905	)	$	(703	)
Derivatives not designated as hedging instruments
Equity swap agreements	Noninterest expense	$	—		$	2
Foreign exchange options	Noninterest income	140			253
Foreign exchange options	Noninterest expense	8			55
Interest rate swaps	Noninterest income	216			115
Short-term foreign exchange contracts	Noninterest income	(43		)	48
	Total net income (expense)	$	321		$	473

Schedule of gross derivatives, resale agreements, repurchase agreements and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities

	(In thousands)
			Gross Amounts		Net Amounts of		Gross Amounts Not Offset in
	Gross		Offset in the		Assets presented in		the Condensed Consolidated
	Amounts of		Condensed		the Condensed		Balance Sheets
Assets	Recognized		Consolidated		Consolidated		Financial			Collateral
As of March 31, 2013	Assets		Balance Sheets		Balance Sheets		Instruments			Received			Net Amount
Derivatives	$	1,327	$	—	$	1,327	$	(778	)	$	(549	)	$	—
Resale Agreements	$	1,675,000	$	—	$	1,675,000	$	(545,000	)	$	(1,130,000	)	$	—

			Gross Amounts		Net Amounts of		Gross Amounts Not Offset in
	Gross		Offset in the		Liabilities presented		the Condensed Consolidated
	Amounts of		Condensed		in the Condensed		Balance Sheets
Liabilities	Recognized		Consolidated		Consolidated		Financial			Collateral
As of March 31, 2013	Liabilities		Balance Sheets		Balance Sheets		Instruments			Posted			Net Amount
Derivatives	$	37,304	$	—	$	37,304	$	(778	)	$	(36,526	)	$	—
Repurchase Agreements	$	995,000	$	—	$	995,000	$	(545,000	)	$	(450,000	)	$	—

			Gross Amounts		Net Amounts of		Gross Amounts Not Offset in
	Gross		Offset in the		Assets presented in		the Condensed Consolidated
	Amounts of		Condensed		the Condensed		Balance Sheets
Assets	Recognized		Consolidated		Consolidated		Financial			Collateral
As of December 31, 2012	Assets		Balance Sheets		Balance Sheets		Instruments			Received			Net Amount
Derivatives	$	992	$	—	$	992	$	(366	)	$	(626	)	$	—
Resale Agreements	$	1,750,000	$	—	$	1,750,000	$	(545,000	)	$	(1,205,000	)	$	—

			Gross Amounts		Net Amounts of		Gross Amounts Not Offset in
	Gross		Offset in the		Liabilities presented		the Condensed Consolidated
	Amounts of		Condensed		in the Condensed		Balance Sheets
Liabilities	Recognized		Consolidated		Consolidated		Financial			Collateral
As of December 31, 2012	Liabilities		Balance Sheets		Balance Sheets		Instruments			Posted			Net Amount
Derivatives	$	38,513	$	—	$	38,513	$	(366	)	$	(38,147	)	$	—
Repurchase Agreements	$	995,000	$	—	$	995,000	$	(545,000	)	$	(450,000	)	$	—