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DERIVATIVES (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
Derivatives designated as accounting hedges at June 30, 2020 and December 31, 2019 included:
(dollars in thousands)Notional
Amount		AssetLiabilityWeighted Average Receive RateWeighted Average Pay
Rate		Weighted Average Life
(Years)
June 30, 2020      
Cash flow hedges:     
Pay fixed — receive variable interest rate swaps$2,750,000  $—  $88,512  0.23 %1.49 %2.19
Pay variable - receive fixed interest rate swaps7,070,000  194,232  —  1.41 %0.18 %2.19
Interest rate floor3,950,000  56,194  —  1.75 %— %0.84
Total$13,770,000  $250,426  $88,512  1.27 %0.39 %1.80
December 31, 2019      
Cash flow hedges:      
Pay fixed — receive variable interest rate swaps$2,650,000  $2,807  $39,128  1.85 %1.91 %1.86
Pay variable - receive fixed interest rate swaps7,570,000  7,462  29,209  1.43 %1.73 %2.39
Interest rate floor3,800,000  18,762  —  0.19 %— %1.28
Total$14,020,000  $29,031  $68,337  1.17 %1.29 %1.99
Schedule of Other Derivative Activities
Other derivative activities at June 30, 2020 and December 31, 2019 included:
NotionalAsset derivatives
Fair value		Liability derivatives
Fair value
(in thousands)June 30, 2020December 31, 2019June 30, 2020December 31, 2019June 30, 2020December 31, 2019
Mortgage banking derivatives:
Forward commitments to sell loans$549,805  $452,994  $51  $18  $3,483  $360  
Interest rate lock commitments322,558  167,423  16,435  3,042  —  —  
Mortgage servicing620,000  510,000  47,369  15,134  18,733  2,547  
Total mortgage banking risk management1,492,363  1,130,417  63,855  18,194  22,216  2,907  
Customer-related derivatives:
Swaps receive fixed16,635,322  11,225,376  1,251,458  375,541  397  12,330  
Swaps pay fixed17,081,403  11,975,313  2,299  23,271  1,223,746  336,361  
Other3,637,631  3,532,959  7,507  3,457  14,760  4,848  
Total customer-related derivatives37,354,356  26,733,648  1,261,264  402,269  1,238,903  353,539  
Other derivative activities:
Foreign exchange contracts3,700,790  3,724,007  42,671  33,749  35,118  34,428  
Interest rate swap agreements258,747  1,290,560  —  —  17,797  11,626  
Interest rate cap agreements10,894,523  9,379,720  6,461  62,552  —  —  
Options for interest rate cap agreements10,894,523  9,379,720  —  —  6,461  62,552  
Other691,071  1,087,986  20,709  10,536  25,876  13,025  
Total$65,286,373  $52,726,058  $1,394,960  $527,300  $1,346,371  $478,077  
Impact of Derivative Activities in the Condensed Consolidated Statement of Operations
The following Condensed Consolidated Statement of Operations line items were impacted by the Company’s derivative activities for the three-month and six-month periods ended June 30, 2020 and 2019:
(in thousands) Three-Month Period
Ended June 30, 		Six-Month Period Ended June 30,
Line Item202020192020 2019
Derivative Activity(1)
Cash flow hedges:    
Pay fixed-receive variable interest rate swapsInterest expense on borrowings$(7,497) $13,842  $(8,321) $26,782  
Pay variable receive-fixed interest rate swapInterest income on loans26,079  (11,250) 22,924  (22,698) 
Other derivative activities:   
Forward commitments to sell loansMiscellaneous income, net7,741  (819) (3,090) 834  
Interest rate lock commitmentsMiscellaneous income, net1,395  1,495  13,392  1,794  
Mortgage servicingMiscellaneous income, net2,727  12,947  32,113  21,301  
Customer-related derivativesMiscellaneous income, net23,739  (2,291) 8,120  (16,350) 
Foreign exchangeMiscellaneous income, net1,783  6,044  12,805  29,977  
Interest rate swaps, caps, and optionsMiscellaneous income, net(1,028) 5,421  (10,686) 7,866  
OtherMiscellaneous income, net(4,149) 843  (3,919) (368) 
(1) Gains are disclosed as positive numbers while losses are shown as a negative number regardless of the line item being affected.
Offsetting of Financial Assets
Information about financial assets and liabilities that are eligible for offset on the Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019, respectively, is presented in the following tables:
Offsetting of Financial Assets
Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)Gross Amounts of Recognized AssetsGross Amounts Offset in the Consolidated Balance SheetsNet Amounts of Assets Presented in the Consolidated Balance Sheets
Collateral Received (3)
Net Amount
June 30, 2020
Cash flow hedges$250,427  $—  $250,427  $144,680  $105,747  
Other derivative activities(1)
1,378,524  602  1,377,922  11,880  1,366,042  
Total derivatives subject to a master netting arrangement or similar arrangement1,628,951  602  1,628,349  156,560  1,471,789  
Total derivatives not subject to a master netting arrangement or similar arrangement(2)
16,435  —  16,435  —  16,435  
Total Derivative Assets$1,645,386  $602  $1,644,784  $156,560  $1,488,224  
December 31, 2019
Cash flow hedges$29,031  $—  $29,031  $17,790  $11,241  
Other derivative activities(1)
524,258  435  523,823  51,437  472,386  
Total derivatives subject to a master netting arrangement or similar arrangement553,289  435  552,854  69,227  483,627  
Total derivatives not subject to a master netting arrangement or similar arrangement(2)
3,042  —  3,042  —  3,042  
Total Derivative Assets$556,331  $435  $555,896  $69,227  $486,669  
(1)Includes customer-related and other derivatives.
(2)Includes mortgage banking derivatives.
(3)Collateral received includes cash, cash equivalents, and other financial instruments. Cash collateral received is reported in Other liabilities, as applicable, in the Condensed Consolidated Balance Sheets. Financial instruments that are pledged to the Company are not reflected in the accompanying Condensed Consolidated Balance Sheets since the Company does not control or have the ability to re-hypothecate these instruments.
Offsetting of Financial Liabilities
Offsetting of Financial Liabilities
Gross Amounts Not Offset in the Consolidated Balance Sheets
(in thousands)Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Consolidated Balance SheetsNet Amounts of Liabilities Presented in the Consolidated Balance Sheets
Collateral Pledged (3)
Net Amount
June 30, 2020
Cash flow hedges$88,512  $—  $88,512  $88,512  $—  
Other derivative activities(1)
1,342,888  10,625  1,332,263  708,705  623,558  
Total derivatives subject to a master netting arrangement or similar arrangement1,431,400  10,625  1,420,775  797,217  623,558  
Total derivatives not subject to a master netting arrangement or similar arrangement(2)
3,483  —  3,483  2,800  683  
Total Derivative Liabilities $1,434,883  $10,625  $1,424,258  $800,017  $624,241  
December 31, 2019
Cash flow hedges$68,337  $—  $68,337  $68,337  $—  
Other derivative activities(1)
477,717  9,406  468,311  436,301  32,010  
Total derivatives subject to a master netting arrangement or similar arrangement546,054  9,406  536,648  504,638  32,010  
Total derivatives not subject to a master netting arrangement or similar arrangement(2)
360  —  360  273  87  
Total Derivative Liabilities $546,414  $9,406  $537,008  $504,911  $32,097  
(1)Includes customer-related and other derivatives.
(2)Includes mortgage banking derivatives.
(3)Cash collateral pledged and financial instruments pledged is reported in Other assets in the Condensed Consolidated Balance Sheets. In certain instances, the Company is over-collateralized since the actual amount of collateral pledged exceeds the associated financial liability. As a result, the actual amount of collateral pledged that is reported in Other assets may be greater than the amount shown in the table above.