Derivative Instruments And Hedging Activities Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014



	June 30, 2014						December 31, 2013
	Notional amount		Fair value				Notional amount		Fair value
(In thousands)	Notional amount		Other assets		Other liabilities		Notional amount		Other assets		Other liabilities
Derivatives designated as hedging instruments
Asset derivatives
Cash flow hedges:
Interest rate swaps	$	200,000	$	1,280	$	63	$	100,000	$	202	$	583
Total derivatives designated as hedging instruments	200,000		1,280		63		100,000		202		583
Derivatives not designated as hedging instruments
Interest rate swaps	15,890		—		153		65,850		420		421
Interest rate swaps for customers ²	2,820,479		48,911		50,379		2,902,776		55,447		54,688
Foreign exchange	358,462		6,952		5,979		751,066		9,614		8,643
Total return swap	—		—		—		1,159,686		—		4,062
Total derivatives not designated as hedging instruments	3,194,831		55,863		56,511		4,879,378		65,481		67,814
Total derivatives	$	3,394,831	$	57,143	$	56,574	$	4,979,378	$	65,683	$	68,397



	Three Months Ended June 30, 2014									Six Months Ended June 30, 2014
	Amount of derivative gain (loss) recognized/reclassified
(In thousands)	OCI		Reclassified from AOCI to interest income ³		Noninterest income (expense)			Offset to interest expense		OCI		Reclassified from AOCI to interest income ³		Noninterest income (expense)			Offset to interest expense
Derivatives designated as hedging instruments
Asset derivatives
Cash flow hedges ¹:
Interest rate swaps	$	1,988	$	577	$	—				$	2,526	$	928	$	—
	1,988		577		—					2,526		928		—
Liability derivatives
Fair value hedges:
Terminated swaps on long-term debt								$	608								$	1,326
Total derivatives designated as hedging instruments	1,988		577		—			608		2,526		928		—			1,326
Derivatives not designated as hedging instruments
Interest rate swaps					348									354
Interest rate swaps for customers ²					(377		)							(926		)
Foreign exchange					1,998									3,709
Total return swap					(467		)							(7,894		)
Total derivatives not designated as hedging instruments					1,502									(4,757		)
Total derivatives	$	1,988	$	577	$	1,502		$	608	$	2,526	$	928	$	(4,757	)	$	1,326



	Three Months Ended June 30, 2013										Six Months Ended June 30, 2013
	Amount of derivative gain (loss) recognized/reclassified
(In thousands)	OCI			Reclassified from AOCI to interest income ³		Noninterest income (expense)			Offset to interest expense		OCI			Reclassified from AOCI to interest income ³		Noninterest income (expense)			Offset to interest expense
Derivatives designated as hedging instruments
Asset derivatives
Cash flow hedges ¹:
Interest rate swaps	$	(2	)	$	777	$	—				$	(6	)	$	2,382	$	—
	(2		)	777		—					(6		)	2,382		—
Liability derivatives
Fair value hedges:
Terminated swaps on long-term debt									$	780									$	1,546
Total derivatives designated as hedging instruments	(2		)	777		—			780		(6		)	2,382		—			1,546
Derivatives not designated as hedging instruments
Interest rate swaps						(20		)								(87		)
Interest rate swaps for customers ²						4,290										5,748
Futures contracts						(1		)								—
Foreign exchange						2,100										4,854
Total return swap						(5,450		)								(11,008		)
Total derivatives not designated as hedging instruments						919										(493		)
Total derivatives	$	(2	)	$	777	$	919		$	780	$	(6	)	$	2,382	$	(493	)	$	1,546

Note: These schedules are not intended to present at any given time the Company’s long/short position with respect to its derivative contracts.


¹	Amounts recognized in OCI and reclassified from accumulated OCI (“AOCI”) represent the effective portion of the derivative gain (loss).


²	Amounts include both the customer swaps and the offsetting derivative contracts.


³	Amounts for the three and six months ended June 30, of $0.6 million and $0.9 million in 2014, and $0.8 million and $2.4 million in 2013, respectively, are the amounts of reclassification to earnings from AOCI presented in Note 8.