Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Information About Interest Rate Swap Agreements

Information about interest rate swap agreements entered into for interest rate risk management purposes summarized by type of financial instrument the swap agreements were intended to hedge follows:

	Notional Amount		Average Maturity		Weighted-Average Rate						Estimated Fair Value Gain
					Fixed			Variable
	(In thousands)		(In years)								(In thousands)
December 31, 2014
Fair value hedges:
Fixed rate long-term borrowings(a)	$	1,400,000		2.7		4.42	%		1.19	%	$	73,251
December 31, 2013
Fair value hedges:
Fixed rate long-term borrowings(a)	$	1,400,000		3.7		4.42	%		1.20	%	$	102,875

(a) Under the terms of these agreements, the Company receives settlement amounts at a fixed rate and pays at a variable rate.

Notional Amount of Interest Rate Swap Agreements Outstanding Maturity

The notional amount of interest rate swap agreements entered into for risk management purposes that were outstanding at December 31, 2014 mature as follows:

	(In thousands)
Year ending December 31:
2016	$	500,000
2017		400,000
2018		500,000
	$	1,400,000

Information About Fair Values of Derivative Instruments in Consolidated Balance Sheet

Information about the fair values of derivative instruments in the Company’s consolidated balance sheet and consolidated statement of income follows:

	Asset Derivatives Fair Value December 31				Liability Derivatives Fair Value December 31
	2014		2013		2014		2013
	(In thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements(a)	$	73,251	$	102,875	$	—	$	—
Commitments to sell real estate loans(a)		728		6,957		4,217		487
		73,979		109,832		4,217		487
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale(a)		17,396		7,616		49		3,675
Commitments to sell real estate loans(a)		754		6,120		4,330		230
Trading:
Interest rate contracts(b)		215,614		274,864		173,513		234,455
Foreign exchange and other option and futures contracts(b)		31,112		15,831		29,950		15,342
		264,876		304,431		207,842		253,702
Total derivatives	$	338,855	$	414,263	$	212,059	$	254,189

(a) Asset derivatives are reported in other assets and liability derivatives are reported in other liabilities.

(b) Asset derivatives are reported in trading account assets and liability derivatives are reported in other liabilities.

Information About Fair Values of Derivative Instruments in Consolidated Statement of Income

Amount of Unrealized Gain (Loss) Recognized
	Year Ended December 31, 2014					Year Ended December 31, 2013					Year Ended December 31, 2012
	Derivative			Hedged Item		Derivative			Hedged Item		Derivative			Hedged Item
	(In thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings(a)	$	(29,624	)	$	28,870	$	(40,304	)	$	38,986	$	(4,123	)	$	3,724
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts(b)	$	3,398				$	9,824				$	8,004
Foreign exchange and other option and futures contracts(b)		(6,719	)				(3,369	)				(3,970	)
Total	$	(3,321	)			$	6,455				$	4,034

(a) Reported as other revenues from operations.

(b) Reported as trading account and foreign exchange gains.