Balance Sheet Offsetting

Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. The Corporation’s derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Corporation does not generally offset such financial instruments for financial reporting purposes.

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of September 30, 2014 is presented in the following tables.



	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
September 30, 2014
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	5,801	$	—	$	5,801
Commodity swaps and options	6,121		—		6,121
Foreign currency forward contracts	823		—		823
Total derivatives	12,745		—		12,745
Resell agreements	4,898		—		4,898
Total	$	17,643	$	—	$	17,643
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps	$	36,976	$	—	$	36,976
Commodity swaps and options	2,575		—		2,575
Foreign currency forward contracts	—		—		—
Total derivatives	39,551		—		39,551
Repurchase agreements	576,040		—		576,040
Total	$	615,591	$	—	$	615,591



			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments			Collateral			Net Amount
September 30, 2014
Financial assets:
Derivatives:
Counterparty A	$	1,493	$	(1,493	)	$	—		$	—
Counterparty B	5,140		(5,140		)	—			—
Counterparty C	2,157		(2,157		)	—			—
Other counterparties	3,955		(3,474		)	(212		)	269
Total derivatives	12,745		(12,264		)	(212		)	269
Resell agreements	4,898		—			(4,898		)	—
Total	$	17,643	$	(12,264	)	$	(5,110	)	$	269
Financial liabilities:
Derivatives:
Counterparty A	$	17,875	$	(1,493	)	$	(15,943	)	$	439
Counterparty B	7,146		(5,140		)	(2,006		)	—
Counterparty C	7,440		(2,157		)	(5,283		)	—
Other counterparties	7,090		(3,474		)	(3,302		)	314
Total derivatives	39,551		(12,264		)	(26,534		)	753
Repurchase agreements	576,040		—			(576,040		)	—
Total	$	615,591	$	(12,264	)	$	(602,574	)	$	753

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2013 is presented in the following tables.



	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
December 31, 2013
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	12,268	$	—	$	12,268
Commodity swaps and options	3,907		—		3,907
Foreign currency forward contracts	90		—		90
Total derivatives	16,265		—		16,265
Resell agreements	7,898		—		7,898
Total	$	24,163	$	—	$	24,163
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps	$	36,660	$	—	$	36,660
Commodity swaps and options	5,916		—		5,916
Foreign currency forward contracts	27		—		27
Total derivatives	42,603		—		42,603
Repurchase agreements	668,053		—		668,053
Total	$	710,656	$	—	$	710,656



			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments			Collateral			Net Amount
December 31, 2013
Financial assets:
Derivatives:
Counterparty A	$	3,342	$	(3,342	)	$	—		$	—
Counterparty B	8,196		(8,196		)	—			—
Counterparty C	1,187		(1,187		)	—			—
Other counterparties	3,540		(2,099		)	(1,360		)	81
Total derivatives	16,265		(14,824		)	(1,360		)	81
Resell agreements	7,898		—			(7,898		)	—
Total	$	24,163	$	(14,824	)	$	(9,258	)	$	81
Financial liabilities:
Derivatives:
Counterparty A	$	18,615	$	(3,342	)	$	(15,167	)	$	106
Counterparty B	9,054		(8,196		)	(613		)	245
Counterparty C	10,870		(1,187		)	(9,683		)	—
Other counterparties	4,064		(2,099		)	(1,549		)	416
Total derivatives	42,603		(14,824		)	(27,012		)	767
Repurchase agreements	668,053		—			(668,053		)	—
Total	$	710,656	$	(14,824	)	$	(695,065	)	$	767