DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING (Tables)

12 Months Ended

Dec. 31, 2013

DERIVATIVE FINANCIAL INSTRUMENTS AND BALANCE SHEET OFFSETTING

	Fair Values of Derivative Instruments
	December 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	$	135,000	$	—	$	16,906	$	50,000	$	—	$	1,521
Total derivatives designated as hedging instruments	$	135,000	$	—	$	16,906	$	50,000	$	—	$	1,521
Derivatives not designated as hedging instruments:
Foreign exchange options	$	85,614	$	6,290	$	3,655	$	85,614	$	5,011	$	3,052
Interest rate swaps	1,915,474		28,078		26,352		1,190,793		36,943		36,799
Foreign exchange contracts	440,848		6,181		3,349		112,459		896		688
Total derivatives not designated as hedging instruments	$	2,441,936	$	40,549	$	33,356	$	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


		Year Ended December 31,
	Location in Consolidated
	Statements of Operations	2013			2012		2011
		(In thousands)
Derivatives designated as hedging instruments
Interest rate swaps on certificates of deposit—fair value	Interest expense	$		(9,255)	$	(1,076)	$	2,930
	Total net (expense) income	$		(9,255)	$	(1,076)	$	2,930
Derivatives not designated as hedging instruments
Equity swap agreements	Noninterest expense	$	—		$	2	$	2
Foreign exchange options	Noninterest income	653			389		(392)
Foreign exchange options	Noninterest expense	23			101		16
Interest rate swaps	Noninterest income	1,582			592		(447)
Foreign exchange contracts	Noninterest income	2,624			(228)		251
	Total net income (expense)	$	4,882		$	856	$	(570)

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

	As of December 31, 2013
	(In thousands)
							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheets		Financial Instruments		Collateral Received		Net Amount
Derivatives	$	16,043	$	—	$	16,043	$	(11,363)	$	(4,680)	$	-
Resale Agreements	$	1,400,000	$	—	$	1,400,000	$	(495,000)	$	(905,000)	$	-

							Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Condensed Consolidated Balance Sheets		Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheets		Financial Instruments		Collateral Posted		Net Amount
Derivatives	$	33,849	$	—	$	33,849	$	(11,363)	$	(22,486)	$	-
Repurchase Agreements	$	995,000	$	—	$	995,000	$	(495,000)	$	(500,000)	$	-

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

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