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CASH AND DUE FROM BANKS
12 Months Ended
Dec. 31, 2016
Cash and Cash Equivalents [Abstract]  
CASH AND DUE FROM BANKS
CASH AND DUE FROM BANKS
The Company’s subsidiary banks maintain certain average reserve balances and compensating balances for check clearing and other services with the FRB. At December 31, 2016 and 2015, the balance of deposits at the FRB amounted to $2.7 billion and $2.0 billion, respectively. Average balances maintained with the FRB during the years ended December 31, 2016, 2015, and 2014 exceeded amounts required by law for the FRB’s requirements. All amounts, both required and excess reserves, held at the FRB currently earn interest at a fixed rate of 75 basis points. The Company recorded interest income on FRB deposits of $7 million, $4 million, and $5 million for the years ended December 31, 2016, 2015, and 2014, respectively, in interest-bearing deposits in banks in the Consolidated Statement of Operations.