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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2011
DERIVATIVE FINANCIAL INSTRUMENTS |
Fair values of derivative instruments |
|  | Fair Values of Derivative Instruments |
--- | --- | --- | ---
|  | December 31, 2011 |  | December 31, 2010 |
|  | Notional Amount |  | Derivative Assets(1) |  | Derivative Liabilities(1) |  | Notional Amount |  | Derivative Assets(1) |  | Derivative Liabilities(1) |
|  | (In thousands) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps on certificates of deposit—fair value |  | $ | 200,000 |  | $ | 998 |  | $ | 639 |  | $ | — |  | $ | — |  | $ | — |
Total derivatives designated as hedging instruments |  | $ | 200,000 |  | $ | 998 |  | $ | 639 |  | $ | — |  | $ | — |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity swap agreements |  | $ | 22,709 |  | $ | 202 |  | $ | 204 |  | $ | 22,884 |  | $ | 206 |  | $ | 210 |
Foreign exchange options |  |  | 85,614 |  |  | 3,899 |  |  | 2,430 |  |  | 85,614 |  |  | 5,084 |  |  | 3,239 |
Interest rate swaps |  |  | 485,196 |  |  | 19,476 |  |  | 19,924 |  |  | 4,098 |  |  | 13 |  |  | 14 |
Short-term foreign exchange contracts |  |  | 210,295 |  |  | 1,403 |  |  | 967 |  |  | 92,625 |  |  | 1,220 |  |  | 1,035 |
Total derivatives not designated as hedging instruments |  | $ | 803,814 |  | $ | 24,980 |  | $ | 23,525 |  | $ | 205,221 |  | $ | 6,523 |  | $ | 4,498 |
(1) Derivative assets include the estimated gain to settle a derivative contract plus net interest receivable. Derivative liabilities include the estimated loss to settle a derivative contract.
Gains (losses) on derivative instruments |
|  |  |  | Year Ended December 31, |
--- | --- | --- | --- | --- | ---
|  | Location in Consolidated Statements of Operations |
|  | 2011 |  | 2010 |  | 2009 |
|  |  |  | (In thousands) |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps on certificates of deposit—fair value |  | Interest expense |  | $ | 2,930 |  | $ | — |  | $ | — |
|  | Total net income |  | $ | 2,930 |  | $ | — |  | $ | — |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Equity swap agreements |  | Noninterest expense |  | $ | 2 |  | $ | (138 | ) | $ | 312 |
Foreign exchange options |  | Noninterest income |  |  | (392 | ) |  | — |  |  | — |
Foreign exchange options |  | Noninterest expense |  |  | 16 |  |  | — |  |  | — |
Interest rate swaps |  | Noninterest income |  |  | (447 | ) |  | — |  |  | — |
Short-term foreign exchange contracts |  | Noninterest income |  |  | 251 |  |  | 180 |  |  | — |
|  | Total net (expense) income |  | $ | (570 | ) | $ | 42 |  | $ | 312 |

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- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624171-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5618551-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=6935481&loc=SL5624163-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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