Derivatives (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Instrument Detail [Abstract]

Derivative Contracts [Table Text Block]

The following table summarizes the fair values of derivative contracts recorded as “derivative contracts” assets and liabilities in the balance sheet at March 31, 2015 (in thousands):

	Assets
	Notional1		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	18,144,202	$	115,693	$	(38,135	)	$	77,558	$	—		$	77,558
Interest rate swaps	1,174,975		39,880		—			39,880		—			39,880
Energy contracts	651,548		133,391		(47,576		)	85,815		(62,118		)	23,697
Agricultural contracts	37,545		837		(367		)	470		—			470
Foreign exchange contracts	379,243		311,739		—			311,739		—			311,739
Equity option contracts	185,043		8,939		—			8,939		(100		)	8,839
Total customer risk management programs	20,572,556		610,479		(86,078		)	524,401		(62,218		)	462,183
Interest rate risk management programs	22,000		203		—			203		—			203
Total derivative contracts	$	20,594,556	$	610,682	$	(86,078	)	$	524,604	$	(62,218	)	$	462,386
	Liabilities
	Notional¹		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	17,920,104	$	111,977	$	(38,135	)	$	73,842	$	(61,094	)	$	12,748
Interest rate swaps	1,174,975		40,134		—			40,134		(23,121		)	17,013
Energy contracts	634,459		130,396		(47,576		)	82,820		—			82,820
Agricultural contracts	37,536		830		(367		)	463		—			463
Foreign exchange contracts	378,406		310,940		—			310,940		(13,716		)	297,224
Equity option contracts	185,043		8,939		—			8,939		—			8,939
Total customer risk management programs	20,330,523		603,216		(86,078		)	517,138		(97,931		)	419,207
Interest rate risk management programs	25,000		144		—			144		—			144
Total derivative contracts	$	20,355,523	$	603,360	$	(86,078	)	$	517,282	$	(97,931	)	$	419,351

¹  Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.

The following table summarizes the fair values of derivative contracts recorded as “derivative contracts” assets and liabilities in the balance sheet at December 31, 2014 (in thousands):

	Assets
	Notional		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	13,313,615	$	94,719	$	(39,359	)	$	55,360	$	—		$	55,360
Interest rate swaps	1,165,568		35,405		—			35,405		—			35,405
Energy contracts	579,801		141,166		(48,624		)	92,542		(71,310		)	21,232
Agricultural contracts	47,657		1,904		(1,256		)	648		—			648
Foreign exchange contracts	290,965		238,395		—			238,395		—			238,395
Equity option contracts	194,960		10,834		—			10,834		—			10,834
Total customer risk management programs	15,592,566		522,423		(89,239		)	433,184		(71,310		)	361,874
Interest rate risk management programs	—		—		—			—		—			—
Total derivative contracts	$	15,592,566	$	522,423	$	(89,239	)	$	433,184	$	(71,310	)	$	361,874
	Liabilities
	Notional		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	13,471,880	$	91,949	$	(39,359	)	$	52,590	$	(52,290	)	$	300
Interest rate swaps	1,165,568		35,599		—			35,599		(18,717		)	16,882
Energy contracts	579,801		142,839		(48,624		)	94,215		—			94,215
Agricultural contracts	47,418		1,908		(1,256		)	652		(596		)	56
Foreign exchange contracts	290,856		238,118		—			238,118		(6,703		)	231,415
Equity option contracts	194,960		10,834		—			10,834		—			10,834
Total customer risk management programs	15,750,483		521,247		(89,239		)	432,008		(78,306		)	353,702
Interest rate risk management programs	47,000		852		—			852		—			852
Total derivative contracts	$	15,797,483	$	522,099	$	(89,239	)	$	432,860	$	(78,306	)	$	354,554

¹  Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.

The following table summarizes the fair values of derivative contracts recorded as “derivative contracts” assets and liabilities in the balance sheet at March 31, 2014 (in thousands):

	Assets
	Notional1		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	10,859,613	$	30,897	$	(20,219	)	$	10,678	$	—		$	10,678
Interest rate swaps	1,266,880		41,331		—			41,331		—			41,331
Energy contracts	1,207,861		53,440		(27,112		)	26,328		—			26,328
Agricultural contracts	111,960		4,208		(1,875		)	2,333		—			2,333
Foreign exchange contracts	123,278		123,278		—			123,278		—			123,278
Equity option contracts	208,977		17,939		—			17,939		(3,380		)	14,559
Total customer risk management programs	13,778,569		271,093		(49,206		)	221,887		(3,380		)	218,507
Interest rate risk management programs	—		—		—			—		—			—
Total derivative contracts	$	13,778,569	$	271,093	$	(49,206	)	$	221,887	$	(3,380	)	$	218,507
	Liabilities
	Notional1		Gross Fair Value		Netting Adjustments			Net Fair Value Before Cash Collateral		Cash Collateral			Fair Value Net of Cash Collateral
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	11,398,442	$	27,966	$	(20,219	)	$	7,747	$	—		$	7,747
Interest rate swaps	1,266,880		41,596		—			41,596		(17,388		)	24,208
Energy contracts	1,134,208		51,308		(27,112		)	24,196		(14,202		)	9,994
Agricultural contracts	105,518		4,174		(1,875		)	2,299		(2,287		)	12
Foreign exchange contracts	122,939		122,939		—			122,939		—			122,939
Equity option contracts	208,977		17,939		—			17,939		—			17,939
Total customer risk management programs	14,236,964		265,922		(49,206		)	216,716		(33,877		)	182,839
Interest rate risk management programs	47,000		2,660		—			2,660		—			2,660
Total derivative contracts	$	14,283,964	$	268,582	$	(49,206	)	$	219,376	$	(33,877	)	$	185,499

¹  Notional amounts for commodity contracts are converted into dollar-equivalent amounts based on dollar prices at the inception of the contract.

Derivative Instruments, Gain (Loss) in Statement of Earnings [Table Text Block]

The following summarizes the pre-tax net gains (losses) on derivative instruments and where they are recorded in the income statement (in thousands):

	Three Months Ended
	March 31, 2015				March 31, 2014
	Brokerage and Trading Revenue		Gain on Derivatives, Net		Brokerage and Trading Revenue		Gain on Derivatives, Net
Customer risk management programs:
Interest rate contracts
To-be-announced residential mortgage-backed securities	$	8,250	$	—	$	5,381	$	—
Interest rate swaps	473		—		507		—
Energy contracts	1,341		—		871		—
Agricultural contracts	12		—		63		—
Foreign exchange contracts	245		—		219		—
Equity option contracts	—		—		—		—
Total customer risk management programs	10,321		—		7,041		—
Interest rate risk management programs	—		911		—		968
Total derivative contracts	$	10,321	$	911	$	7,041	$	968