Derivative financial instruments (Tables)

9 Months Ended

Sep. 30, 2016

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		Average		Weighted- average rate
	amount		maturity		Fixed			Variable
	(in thousands)		(in years)
September 30, 2016
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		0.9		4.42	%		1.79	%
December 31, 2015
Fair value hedges:
Fixed rate long-term borrowings (a)	$	1,400,000		1.7		4.42	%		1.39	%

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

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				Liability derivatives
	Fair value				Fair value
	September 30, 2016		December 31, 2015		September 30, 2016		December 31, 2015
	(in thousands)
Derivatives designated and qualifying as hedging instruments
Fair value hedges:
Interest rate swap agreements (a)	$	21,060		43,892	$	—		—
Commitments to sell real estate loans (a)		382		1,844		3,946		656
		21,442		45,736		3,946		656
Derivatives not designated and qualifying as hedging instruments
Mortgage-related commitments to originate real estate loans for sale (a)		29,851		10,282		51		403
Commitments to sell real estate loans (a)		626		533		8,437		846
Trading:
Interest rate contracts (b)		346,453		203,517		286,298		153,723
Foreign exchange and other option and futures contracts (b)		7,092		8,569		6,415		7,022
		384,022		222,901		301,201		161,994
Total derivatives	$	405,464		268,637	$	305,147		162,650

(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 gain (loss) recognized
	Three months ended September 30, 2016					Three months ended September 30, 2015
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(12,588	)		12,587	$	(2,719	)		2,382
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	4,822				$	4,120
Foreign exchange and other option and futures contracts (b)		1,746					2,613
Total	$	6,568				$	6,733

	Amount of gain (loss) recognized
	Nine months ended September 30, 2016					Nine months ended September 30, 2015
	Derivative			Hedged item		Derivative			Hedged item
	(in thousands)
Derivatives in fair value hedging relationships
Interest rate swap agreements:
Fixed rate long-term borrowings (a)	$	(22,832	)		21,603	$	(12,469	)		11,495
Derivatives not designated as hedging instruments
Trading:
Interest rate contracts (b)	$	11,578				$	6,552
Foreign exchange and other option and futures contracts (b)		5,415					7,023
Total	$	16,993				$	13,575

(a) Reported as other revenues from operations.

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