Debt securities available-for-sale (Tables)

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Debt Securities, Available-For-Sale

		At June 30, 2020
				Gross		Gross				Weighted
		Amortized		unrealized		unrealized		Fair		average
(In thousands)		cost		gains		losses		value		yield
U.S. Treasury securities
	Within 1 year	$	7,336,056	$	14,335	$	147	$	7,350,244	0.47	%
	After 1 to 5 years		5,091,320		277,625		-		5,368,945	2.13
	After 5 to 10 years		1,201,580		87,461		-		1,289,041	1.70
Total U.S. Treasury securities			13,628,956		379,421		147		14,008,230	1.20
Obligations of U.S. Government sponsored entities
	Within 1 year		60,654		485		-		61,139	1.52
	After 1 to 5 years		90		-		-		90	5.64
Total obligations of U.S. Government sponsored entities			60,744		485		-		61,229	1.53
Collateralized mortgage obligations - federal agencies
	Within 1 year		82		-		-		82	1.64
	After 1 to 5 years		590		4		-		594	2.23
	After 5 to 10 years		74,444		1,127		-		75,571	1.62
	After 10 years		426,048		12,078		144		437,982	2.04
Total collateralized mortgage obligations - federal agencies			501,164		13,209		144		514,229	1.97
Mortgage-backed securities
	Within 1 year		6		-		-		6	2.29
	After 1 to 5 years		54,804		1,879		9		56,674	2.57
	After 5 to 10 years		403,728		14,866		17		418,577	1.75
	After 10 years		5,547,035		158,578		1,388		5,704,225	2.33
Total mortgage-backed securities			6,005,573		175,323		1,414		6,179,482	2.30
Other
	After 1 to 5 years		272		11		-		283	3.62
Total other			272		11		-		283	3.62
Total debt securities available-for-sale[1]		$	20,196,709	$	568,449	$	1,705	$	20,763,453	1.54	%
[1]	Includes $16.2 billion pledged to secure government and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $14.6 billion serve as collateral for public funds.

		At December 31, 2019
				Gross		Gross				Weighted
		Amortized		unrealized		unrealized		Fair		average
(In thousands)		cost		gains		losses		value		yield
U.S. Treasury securities
	Within 1 year	$	5,071,201	$	3,262	$	567	$	5,073,896	1.58	%
	After 1 to 5 years		5,137,804		75,597		3,435		5,209,966	2.19
	After 5 to 10 years		1,778,568		429		6,604		1,772,393	1.70
Total U.S. Treasury securities			11,987,573		79,288		10,606		12,056,255	1.86
Obligations of U.S. Government sponsored entities
	Within 1 year		62,492		2		21		62,473	1.45
	After 1 to 5 years		60,021		-		90		59,931	1.48
Total obligations of U.S. Government sponsored entities			122,513		2		111		122,404	1.47
Obligations of Puerto Rico, States and political subdivisions
	Within 1 year		6,975		-		-		6,975	-
Total obligations of Puerto Rico, States and political subdivisions			6,975		-		-		6,975	-
Collateralized mortgage obligations - federal agencies
	Within 1 year		236		-		-		236	1.83
	After 1 to 5 years		350		1		-		351	2.16
	After 5 to 10 years		85,079		31		1,180		83,930	1.63
	After 10 years		504,391		3,640		6,373		501,658	2.08
Total collateralized mortgage obligations - federal agencies			590,056		3,672		7,553		586,175	2.02
Mortgage-backed securities
	Within 1 year		16		-		-		16	2.13
	After 1 to 5 years		36,717		852		1		37,568	3.38
	After 5 to 10 years		350,373		1,958		1,303		351,028	2.02
	After 10 years		4,447,561		60,384		20,243		4,487,702	2.60
Total mortgage-backed securities			4,834,667		63,194		21,547		4,876,314	2.57
Other
	After 1 to 5 years		341		9		-		350	3.62
Total other			341		9		-		350	3.62
Total debt securities available-for-sale[1]		$	17,542,125	$	146,165	$	39,817	$	17,648,473	2.05	%
[1]	Includes $12.2 billion pledged to secure government and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $10.9 billion serve as collateral for public funds.

Debt Securities Available For Sale Unrealized Loss Position Fair Value

	At June 30, 2020
	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
	Fair		unrealized		Fair		unrealized		Fair		unrealized
(In thousands)	value		losses		value		losses		value		losses
U.S. Treasury securities	$	4,998,912	$	147	$	-	$	-	$	4,998,912	$	147
Collateralized mortgage obligations - federal agencies		5,546		82		16,314		62		21,860		144
Mortgage-backed securities		190,994		827		78,964		587		269,958		1,414
Total debt securities available-for-sale in an unrealized loss position	$	5,195,452	$	1,056	$	95,278	$	649	$	5,290,730	$	1,705

	At December 31, 2019
	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
	Fair		unrealized		Fair		unrealized		Fair		unrealized
(In thousands)	value		losses		value		losses		value		losses
U.S. Treasury securities	$	2,439,114	$	9,798	$	452,784	$	808	$	2,891,898	$	10,606
Obligations of U.S. Government sponsored entities		9,973		4		99,846		107		109,819		111
Collateralized mortgage obligations - federal agencies		114,603		537		310,315		7,016		424,918		7,553
Mortgage-backed securities		179,312		693		1,784,414		20,854		1,963,726		21,547
Total debt securities available-for-sale in an unrealized loss position	$	2,743,002	$	11,032	$	2,647,359	$	28,785	$	5,390,361	$	39,817

Schedule Of Securities Aggregate Amortized Cost Exceed 10 Of Stockholders Equity

		June 30, 2020				December 31, 2019
(In thousands)	Amortized cost		Fair value		Amortized cost		Fair value
FNMA	$	2,712,676	$	2,812,828	$	3,113,373	$	3,129,538
Freddie Mac		1,633,940		1,691,433		1,623,116		1,638,796