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Derivatives and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships
 
Asset Derivatives
 
 
Liability Derivatives
 
December 31, 2011
 
December 31, 2010
 
 
December 31, 2011
 
December 31, 2010
 
Notional/ Contract Amount
 
Fair
Value (a)
 
Notional/ Contract Amount
 
Fair
Value (a)
 
 
Notional/ Contract Amount
 
Fair
Value (b)
 
Notional/ Contract Amount
 
Fair
Value (b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value hedges
$
819

 
$

 
$
6,920

 
$

 
 
$
234,330

 
$
25,889

 
$
303,933

 
$
28,550

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) Included in Other Assets on the Consolidated Balance Sheet
 
 
 
 
 
 
 
 
 
(b) Included in Other Liabilities on the Consolidated Balance Sheet
 
 
 
 
 
 
 
 
 
Notional values or contractual amounts and fair value of the Corporation's derivatives not designated in hedge
As of December 31, 2011 and 2010, the notional values or contractual amounts and fair value of the Corporation’s derivatives not designated in hedge relationships were as follows:

 
Asset Derivatives
 
 
Liability Derivatives
 
December 31, 2011
 
December 31, 2010
 
 
December 31, 2011
 
December 31, 2010
 
Notional/ Contract Amount
 
Fair Value(a)
 
Notional/ Contract Amount
 
Fair Value(a)
 
 
Notional/ Contract Amount
 
Fair Value(b)
 
Notional/ Contract Amount
 
Fair Value(b)
Interest rate swaps
$
976,823

 
$
58,875

 
$
774,623

 
$
44,270

 
 
$
976,823

 
$
58,875

 
$
774,623

 
$
44,270

Mortgage loan commitments
191,514

 
4,959

 
118,119

 
1,384

 
 

 

 

 

Forward sales contracts
159,377

 
(1,798
)
 
113,426

 
2,106

 
 

 

 

 

Foreign Exchange
332

 
20

 
3,733

 
4

 
 
336

 
18

 
3,733

 
4

Credit contracts

 

 

 

 
 
17,951

 

 
44,983

 

Other

 

 

 

 
 
21,094

 
1,324

 
14,622

 

Total
$
1,328,046

 
$
62,056

 
$
1,009,901

 
$
47,764

 
 
$
1,016,204

 
$
60,217

 
$
837,961

 
$
44,274

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a) Included in Other Assets on the Consolidated Balance Sheet
 
 
 
 
 
 
 
 
 
(b) Included in Other Liabilities on the Consolidated Balance Sheet
 
 
 
 
 
 
 
 
 
Gains and losses recognized in income on non-designated hedging instruments
Gains and losses recognized in income on non-designated hedging instruments for the years ended December 31, 2011, 2010 and 2009 are as follows:
Derivatives not
designated as hedging
instruments
 
Location of Gain/(Loss)
Recognized
in Income on
Derivative
 
Amount of Gain / (Loss) Recognized
Income on Derivative
in Income on Derivatives
 
 
Year Ended December 31,
 
 
2011
 
2010
 
2009
Interest rate swaps
 
Other operating expense
 
$

 
$

 
$
(3,877
)
Mortgage loan commitments
 
Other operating income
 
3,576

 
987

 
(195
)
Forward sales contracts
 
Other operating income
 
(3,904
)
 
1,222

 
1,401

TBA Securities
 
Other operating income
 

 

 
(4,451
)
Credit contracts
 
Other operating income
 
9

 

 

Other
 
Other operating expense
 
(1,324
)
 
(678
)
 
(600
)
Total
 
 
 
$
(1,643
)
 
$
1,531

 
$
(7,722
)