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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2019
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 September 30, 2019 (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
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest rate swaps
 
2,399,788

 
67,157

 
(240
)
 
66,917

 
(277
)
 
66,640

Energy contracts
 
1,980,406

 
183,204

 
(59,139
)
 
124,065

 
(66,149
)
 
57,916

Agricultural contracts
 
15,538

 
470

 
(302
)
 
168

 
—

 
168

Foreign exchange contracts
 
209,515

 
206,914

 
—

 
206,914

 
—

 
206,914

Equity option contracts
 
82,860

 
3,114

 
—

 
3,114

 
(660
)
 
2,454

Total customer risk management programs
 
4,688,107

 
460,859

 
(59,681
)
 
401,178

 
(67,086
)
 
334,092

Trading
 
73,658,685

 
205,188

 
(193,306
)
 
11,882

 
—

 
11,882

Internal risk management programs
 
433,804

 
9,037

 
(2,992
)
 
6,045

 
—

 
6,045

Total derivative contracts
 
$
78,780,596

 
$
675,084

 
$
(255,979
)
 
$
419,105

 
$
(67,086
)
 
$
352,019

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Interest rate swaps
 
2,399,788

 
67,296

 
(240
)
 
67,056

 
(61,563
)
 
5,493

Energy contracts
 
1,936,369

 
175,613

 
(59,139
)
 
116,474

 
(784
)
 
115,690

Agricultural contracts
 
15,547

 
451

 
(302
)
 
149

 
—

 
149

Foreign exchange contracts
 
200,347

 
197,807

 
—

 
197,807

 
(433
)
 
197,374

Equity option contracts
 
82,860

 
3,114

 
—

 
3,114

 
—

 
3,114

Total customer risk management programs
 
4,634,911

 
444,281

 
(59,681
)
 
384,600

 
(62,780
)
 
321,820

Trading
 
75,247,769

 
207,542

 
(193,306
)
 
14,236

 
—

 
14,236

Internal risk management programs
 
483,370

 
5,435

 
(2,992
)
 
2,443

 
(1,708
)
 
735

Total derivative contracts
 
$
80,366,050

 
$
657,258

 
$
(255,979
)
 
$
401,279

 
$
(64,488
)
 
$
336,791

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, 2018 (in thousands):

 
 
Assets
 
 
Notional 1
 
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
 
$
10,671,151

 
$
92,231

 
$
(26,787
)
 
$
65,444

 
$
—

 
$
65,444

Interest rate swaps
 
1,924,131

 
36,112

 
(6,688
)
 
29,424

 
(7,934
)
 
21,490

Energy contracts
 
1,472,209

 
206,418

 
(60,983
)
 
145,435

 
(106,752
)
 
38,683

Agricultural contracts
 
21,210

 
842

 
(201
)
 
641

 
—

 
641

Foreign exchange contracts
 
184,990

 
183,759

 
—

 
183,759

 
—

 
183,759

Equity option contracts
 
89,085

 
2,021

 
—

 
2,021

 
(648
)
 
1,373

Total customer risk management programs
 
14,362,776

 
521,383

 
(94,659
)
 
426,724

 
(115,334
)
 
311,390

Trading
 
15,356,909

 
45,346

 
(39,521
)
 
5,825

 
—

 
5,825

Internal risk management programs
 
553,079

 
5,064

 
(1,350
)
 
3,714

 
—

 
3,714

Total derivative contracts
 
$
30,272,764

 
$
571,793

 
$
(135,530
)
 
$
436,263

 
$
(115,334
)
 
$
320,929

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
Notional 1
 
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
 
$
10,558,151

 
$
90,388

 
$
(26,787
)
 
$
63,601

 
$
(63,596
)
 
$
5

Interest rate swaps
 
1,924,131

 
36,288

 
(6,688
)
 
29,600

 
(4,110
)
 
25,490

Energy contracts
 
1,434,247

 
202,494

 
(60,983
)
 
141,511

 
(1,490
)
 
140,021

Agricultural contracts
 
21,214

 
812

 
(201
)
 
611

 
—

 
611

Foreign exchange contracts
 
177,423

 
175,922

 
—

 
175,922

 
—

 
175,922

Equity option contracts
 
89,085

 
2,021

 
—

 
2,021

 
—

 
2,021

Total customer risk management programs
 
14,204,251

 
507,925

 
(94,659
)
 
413,266

 
(69,196
)
 
344,070

Trading
 
19,374,294

 
56,983

 
(39,521
)
 
17,462

 
—

 
17,462

Internal risk management programs
 
260,348

 
9,439

 
(1,350
)
 
8,089

 
(7,315
)
 
774

Total derivative contracts
 
$
33,838,893

 
$
574,347

 
$
(135,530
)
 
$
438,817

 
$
(76,511
)
 
$
362,306

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
 
 
September 30, 2019
 
September 30, 2018
 
 
Brokerage
and Trading Revenue
 
Gain (Loss) on Derivatives, Net
 
Brokerage
and Trading
Revenue
 
Gain (Loss)on Derivatives, Net
Customer risk management programs:
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
1,667

 
$
—

 
$
7,272

 
$
—

Interest rate swaps
 
1,252

 
—

 
618

 
—

Energy contracts
 
1,611

 
—

 
541

 
—

Agricultural contracts
 
16

 
—

 
6

 
—

Foreign exchange contracts
 
138

 
—

 
78

 
—

Equity option contracts
 
—

 
—

 
—

 
—

Total customer risk management programs
 
4,684

 
—

 
8,515

 
—

Trading
 
3,630

 
—

 
6,124

 
—

Internal risk management programs
 
—

 
3,778

 
—

 
(2,847
)
Total derivative contracts
 
$
8,314

 
$
3,778

 
$
14,639

 
$
(2,847
)


 
 
Nine Months Ended
 
 
September 30, 2019
 
September 30, 2018
 
 
Brokerage
and Trading Revenue
 
Gain (Loss) on Derivatives, Net
 
Brokerage
and Trading
Revenue
 
Gain (Loss) on Derivatives, Net
Customer risk management programs:
 
 
 
 
 
 
 
 
Interest rate contracts
 
 
 
 
 
 
 
 
To-be-announced residential mortgage-backed securities
 
$
9,579

 
$
—

 
$
21,677

 
$
—

Interest rate swaps
 
2,787

 
—

 
2,057

 
—

Energy contracts
 
3,923

 
—

 
5,097

 
—

Agricultural contracts
 
24

 
—

 
36

 
—

Foreign exchange contracts
 
392

 
—

 
350

 
—

Equity option contracts
 
—

 
—

 
—

 
—

Total customer risk management programs
 
16,705

 
—

 
29,217

 
—

Trading
 
4,365

 
—

 
3,260

 
—

Internal risk management programs
 
—

 
19,595

 
—

 
(11,589
)
Total derivative contracts
 
$
21,070

 
$
19,595

 
$
32,477

 
$
(11,589
)