Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments

Summary of notional amount and fair values of derivative instruments

	June 30, 2013						December 31, 2012
(in millions)	Notional Amount		Derivative Assets		Derivative Liabilities		Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives designated as hedging instruments
Interest-rate swaps - fair value (1):
Long-term and subordinated debt	$	—	$	—	$	—	$	205.5	$	2.3	$	0.1
Total derivatives designated as hedging instruments	$	—	$	—	$	—	$	205.5	$	2.3	$	0.1
Derivatives not designated as hedging instruments
Interest-rate contracts:
Swaps	$	2,691.9	$	44.9	$	43.7	$	2,243.6	$	64.2	$	64.2
Interest-rate caps, floors and collars	230.6		0.3		0.3		240.1		0.2		0.2
Options purchased	2.0		0.4		0.4		2.0		0.2		0.2
Options written	2.0		—		—		2.0		—		—
Total interest-rate contracts	$	2,926.5	$	45.6	$	44.4	$	2,487.7	$	64.6	$	64.6
Option contracts	$	—	$	0.6	$	—	$	—	$	0.7	$	—
Foreign exchange contracts:
Spot and forward contracts	$	421.3	$	2.0	$	2.5	$	231.4	$	1.5	$	1.3
Total derivatives not designated as hedging instruments	$	3,347.8	$	48.2	$	46.9	$	2,719.1	$	66.8	$	65.9

(1) The Company offsets mark-to-market adjustments, interest receivable, interest payable and cash collateral received on interest-rate swaps that are executed with the same counterparty under a master netting agreement, and reports the net balance in other assets or other liabilities in the consolidated balance sheets. For purposes of this disclosure, mark-to-market adjustments, interest receivable and payable are presented on a gross basis and cash collateral is excluded from fair value amounts.

Schedule of impact of interest-rate swaps on interest income and interest expense

(in millions)		For the three months ended					For the six months ended
Derivatives Designated as	Location in Consolidated	June 30,					June 30,
Hedging Instruments	Statements of Income	2013		2012			2013			2012
Interest-rate swaps-fair value	Interest expense	$	—	$	(2.1	)	$	(1.0	)	$	(4.1	)
Interest-rate swaps-cash flow	Interest income	—		—			0.1			0.1
Total income		—		$	2.1		$	1.1		$	4.2

Schedule of the amount of gains and losses on derivative contracts not designated as hedges

(in millions)		For the three months ended					For the six months ended
Derivatives Not Designated as	Location in Consolidated	June 30,					June 30,
Hedging Instruments	Statements of Income	2013		2012			2013		2012
Interest-rate contracts	Other noninterest income	$	1.5	$	(1.2	)	$	1.2	$	(0.5	)
Option contracts	Other noninterest income	0.1		(0.1		)	0.4		(0.7		)
Foreign exchange contracts	International services income	7.3		6.5			13.2		12.3
Total income		$	8.9	$	5.2		$	14.8	$	11.1