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Derivatives Instruments and Hedging Activities Disclosure (Tables)
 9 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships
At September 30, 2013, December 31, 2012 and September 30, 2012, the notional values or contractual amounts and fair value of the Corporation's derivatives designated in hedge relationships were as follows:
 
Asset Derivatives
 
 
Liability Derivatives
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
 
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
 
Notional/ Contract Amount
 
Fair
Value (a)
 
Notional/ Contract Amount
 
Fair
Value (a)
 
Notional/ Contract Amount
 
Fair
Value (a)
 
 
Notional/ Contract Amount
 
Fair
Value (b)
 
Notional/ Contract Amount
 
Fair
Value (b)
 
Notional/ Contract Amount
 
Fair
Value (b)
Interest rate swaps:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fair value hedges
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
 
$
133,159

 
$
13,289

 
$
161,133

 
$
19,080

 
$
182,950

 
$
22,071


(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 September 30, 2013, December 31, 2012 and September 30, 2012, 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
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
 
 
September 30, 2013
 
December 31, 2012
 
September 30, 2012
 
Notional/ Contract Amount
 
Fair Value(a)
 
Notional/ Contract Amount
 
Fair Value(a)
 
Notional/ Contract Amount
 
Fair Value(a)
 
 
Notional/ Contract Amount
 
Fair Value(b)
 
Notional/ Contract Amount
 
Fair Value(b)
 
Notional/ Contract Amount
 
Fair Value(b)
Interest rate swaps
$
1,546,228

 
$
51,044

 
$
1,204,835

 
$
58,769

 
$
1,166,765

 
$
62,796

 
 
$
1,546,228

 
$
51,044

 
$
1,204,835

 
$
58,769

 
$
1,166,765

 
$
62,796

Mortgage loan commitments
144,572

 
2,729

 
168,271

 
4,400

 
221,057

 
7,394

 
 
—

 
—

 
—

 
—

 
—

 
—

Forward sales contracts
—

 
—

 
—

 
—

 
—

 
—

 
 
68,581

 
1,081

 
124,017

 
62

 
144,849

 
2,223

Credit contracts
—

 
—

 
—

 
—

 
—

 
—

 
 
50,336

 
—

 
25,225

 
—

 
20,861

 
—

Foreign exchange
5,716

 
66

 
6,662

 
62

 
4,363

 
80

 
 
6,295

 
92

 
6,026

 
57

 
4,371

 
71

Other
—

 
—

 
—

 
—

 
—

 
—

 
 
54,763

 
—

 
31,492

 
—

 
27,898

 
—

Total
$
1,696,516

 
$
53,839

 
$
1,379,768

 
$
63,231

 
$
1,392,185

 
$
70,270

 
 
$
1,726,203

 
$
52,217

 
$
1,391,595

 
$
58,888

 
$
1,364,744

 
$
65,090

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(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 three and nine months ended September 30, 2013 and 2012 are as follows:
Derivatives not
designated as hedging
instruments
 
Location of Gain/(Loss)
Recognized
in Income on
Derivative
 
Amount of Gain / (Loss) Recognized in Income on Derivatives
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2013
 
2012
 
2013
 
2012
Mortgage loan commitments
 
Other operating income
 
$
1,950

 
$
2,146

 
$
(1,672
)
 
$
2,435

Forward sales contracts
 
Other operating income
 
(5,538
)
 
(1,023
)
 
(1,019
)
 
(425
)
Foreign exchange contracts
 
Other operating income
 
195

 
136

 
(118
)
 
196

Other
 
Other operating expense
 
—

 
—

 
—

 
—

Total
 
 
 
$
(3,393
)
 
$
1,259

 
$
(2,809
)
 
$
2,206

 
 
 
 
 
 
 
 
 
 
 
Offsetting disclosure for derivatives contracts
Derivative assets and liabilities are recorded at fair value on the balance sheet and do not take into account the effects of master netting agreements the Corporation has with its financial institution counterparties. These master netting agreements allow the Corporation to settle all derivative contracts held with a single financial institution counterparty on a net basis, and to offset net derivative positions with related collateral, where applicable. Collateral, usually in the form of investment securities, is posted by the counterparty with net liability position in accordance with contract thresholds. The following tables illustrate the potential effect of the Corporation's derivative master netting arrangements, by type of financial instrument, on the Corporation's statement of financial position as of September 30, 2013, December 31, 2012 and September 30, 2012. The swap agreements the Corporation has in place with its commercial customers are not subject to enforceable master netting arrangements, and, therefore, are excluded from these tables.
 
As of September 30, 2013
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
 
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative Assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
2,585

 
$
—

 
$
2,585

 
$
(2,585
)
 
$
—

 
$
—

Foreign exchange
66

 
—

 
66

 
(92
)
 
26

 
—

    Total derivative assets
$
2,651

 
$
—

 
$
2,651

 
$
(2,677
)
 
$
26

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
13,289

 
$
—

 
$
13,289

 
$
—

 
$
(13,289
)
 
$
—

Interest rate swaps - non-designated
48,458

 
—

 
48,458

 
(2,585
)
 
(45,873
)
 
—

Foreign exchange
92

 
—

 
92

 
(92
)
 
—

 
—

    Total derivative liabilities
$
61,839

 
$
—

 
$
61,839

 
$
(2,677
)
 
$
(59,162
)
 
$
—


 
As of December 31, 2012
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
 
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
55

 
$
—

 
$
55

 
$
(55
)
 
$
—

 
$
—

Foreign exchange
14

 
—

 
14

 
(14
)
 
—

 
—

    Total derivative assets
$
69

 
$
—

 
$
69

 
$
(69
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
19,080

 
$
—

 
$
19,080

 
$
—

 
$
(19,080
)
 
$
—

Interest rate swaps - non-designated
58,714

 
—

 
58,714

 
(55
)
 
(58,659
)
 
—

Foreign exchange
45

 
—

 
45

 
(14
)
 
(31
)
 
—

    Total derivative liabilities
$
77,839

 
$
—

 
$
77,839

 
$
(69
)
 
$
(77,770
)
 
$
—


 
As of September 30, 2012
 
Gross amounts recognized
 
Gross amounts offset in the consolidated balance sheet
 
Net amounts presented in the consolidated balance sheet
 
Gross amounts not offset in the consolidated balance sheet
 
Net amount
 
 
 
 
Financial instruments (a)
 
Collateral (b)
 
Derivative assets
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - non-designated
$
63

 
$
—

 
$
63

 
$
(63
)
 
$
—

 
$
—

Foreign exchange
22

 
—

 
22

 
(22
)
 
—

 
—

Total derivative assets
$
85

 
$
—

 
$
85

 
$
(85
)
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
Derivative Liabilities
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps - designated
$
22,071

 
$
—

 
$
22,071

 
$
—

 
$
(22,071
)
 
$
—

Interest rate swaps - non-designated
62,733

 
—

 
62,733

 
(63
)
 
(62,670
)
 
—

Foreign exchange
56

 
—

 
56

 
(22
)
 
(34
)
 
—

Total derivative liabilities
$
84,860

 
$
—

 
$
84,860

 
$
(85
)
 
$
(84,775
)
 
$
—


(a) For derivative assets, this includes any derivative liability fair values that could be offset in the event of counterparty default. For derivative liabilities, this includes any derivative asset fair values that could be offset in the event of counterparty default.

(b) For derivate assets, this includes the fair value of collateral received by the Corporation from the counterparty. Securities received as collateral are not included in the Consolidated Balance Sheet unless the counterparty defaults. For derivative liabilities, this includes the fair value of securities pledged by the Corporation to the counterparty. These securities are included in the Consolidated Balance Sheet unless the Corporation defaults.