Pledged assets

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements [Abstract]

Pledged Assets [Text Block]

Note 8 – Pledged assets

Certain securitiesand loans were pledged to secure public and trust deposits, assets sold under agreements to repurchase, other borrowings and credit facilities available, derivative positions, and loan servicing agreements. The classification and carrying amount of the Corporation’s pledged assets, in which the secured parties are not permitted to sell or repledge the collateral, were as follows:

(In thousands)	June 30,2015		December 31,2014
Investment securities available-for-sale, at fair value	$	2,286,368	$	1,700,820
Investment securities held-to-maturity, at amortized cost		58,910		60,515
Loans held-in-portfolio covered under loss sharing agreements with the FDIC		411,597		480,441
Loans held-in-portfolio not covered under loss sharing agreements with the FDIC		8,488,262		8,820,204
Total pledged assets	$	11,245,137	$	11,061,980

Pledged securities that the creditor has the right by custom or contract to repledge are presented separately on the consolidated statements of financial condition.

At June 30,2015,the Corporation had $ 1.4 billion in investment securities available-for-sale and $ 0.5 billionin loansthat served as collateral to secure public funds (December 31, 2014 - $ 0.7 billion and $ 0.7 billion, respectively).

At June 30,2015, the Corporation’s banking subsidiaries had short-term and long-term credit facilities authorized with the Federal Home Loan Bank system (the “FHLB”) aggregating to $3.7billion (December 31, 2014 - $3.7billion). Refer to Note20to the consolidated financial statements for borrowings outstanding under these credit facilities. At June 30,2015, the credit facilities authorized with the FHLB were collateralized by $ 4.5 billion in loans held-in-portfolio (December 31, 2014 - $ 4.5 billion). Also, atJune 30,2015, the Corporation’s banking subsidiaries had a borrowing capacity at the Federal Reserve (“Fed”) discount window of $1.3billion, which remained unused as of such date (December 31, 2014 - $2.1billion). The amount available under these credit facilitieswith the Fed is dependent upon the balance of loans and securities pledged as collateral. At June 30,2015, the credit facilities with the Fed discount window were collateralized by $ 3.9 billion in loans held-in-portfolio(December 31, 2014 - $ 4.1 billion). These pledged assets are included in the above table and were not reclassified and separately reported in the consolidated statements of financial condition.