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DERIVATIVES (Tables) | 9 Months Ended
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Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional and fair values of derivative instruments | The following table presents the total notional and fair values of the Company’s derivatives as of September 30, 2015 and December 31, 2014:
|  | Fair Values of Derivative Instruments
|  | September 30, 2015 |  | December 31, 2014
|  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
($ in thousands) |  |  | Derivative Assets (1) |  | Derivative Liabilities (1) |  |  | Derivative Assets (1) |  | Derivative Liabilities (1)
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps on certificates of deposit |  | $ | 114,088 |  |  | $ | — |  |  | $ | 3,339 |  |  | $ | 132,667 |  |  | $ | — |  |  | $ | 9,922 |
Total derivatives designated as hedging instruments |  | $ | 114,088 |  |  | $ | — |  |  | $ | 3,339 |  |  | $ | 132,667 |  |  | $ | — |  |  | $ | 9,922 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange options |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 85,614 |  |  | $ | 6,136 |  |  | $ | — |
Embedded derivative liabilities |  | — |  |  | — |  |  | — |  |  | 47,838 |  |  | — |  |  | 3,392 |
Interest rate swaps and caps |  | 6,063,494 |  |  | 86,954 |  |  | 87,330 |  |  | 4,858,391 |  |  | 41,534 |  |  | 41,779 |
Foreign exchange contracts |  | 817,133 |  |  | 9,745 |  |  | 12,373 |  |  | 680,629 |  |  | 8,118 |  |  | 9,163 |
Total derivatives not designated as hedging instruments |  | $ | 6,880,627 |  |  | $ | 96,699 |  |  | $ | 99,703 |  |  | $ | 5,672,472 |  |  | $ | 55,788 |  |  | $ | 54,334 |
(1) | Derivative assets are included in Other Assets. Derivative liabilities are included in Accrued Expenses and Other liabilities, and Interest-Bearing Deposits.
Net gains (losses) recognized in the Income Statement related to derivatives designated as hedging instruments | The following table presents the net gains (losses) recognized in the Consolidated Statements of Income related to derivatives designated as hedging instruments for the three and nine months ended September 30, 2015 and 2014:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in thousands) |  | 2015 |  | 2014 |  | 2015 |  | 2014
Gains (losses) recorded in interest expense |  |  |  |  |  |  |  |
Recognized on interest rate swaps |  | $ | 4,616 |  |  | $ | (1,668 | ) |  | $ | 5,336 |  |  | $ | 4,082 |
Recognized on certificates of deposit |  | (4,247 | ) |  | 1,441 |  |  | (4,647 | ) |  | (3,949 | )
Net amount recognized on fair value hedges (ineffective portion) |  | $ | 369 |  |  | $ | (227 | ) |  | $ | 689 |  |  | $ | 133 |
Net gains (losses) recognized in the Income Statement related to derivatives not designated as hedging instruments | The following table presents the net gains (losses) recognized on the Company’s Consolidated Statements of Income related to derivatives not designated as hedging instruments for the three and nine months ended September 30, 2015 and 2014:
|  | Location in Consolidated Statements of Income |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
($ in thousands) |  |  | 2015 |  | 2014 |  | 2015 |  | 2014
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |
Foreign exchange options |  | Foreign exchange income |  | $ | — |  |  | $ | 37 |  |  | $ | 236 |  |  | $ | 91 |
Embedded derivative liabilities |  | Other operating expense |  | — |  |  | 5 |  |  | (136 | ) |  | 2 |
Interest rate swaps and caps |  | Other fees and other operating income |  | (864 | ) |  | 272 |  |  | (243 | ) |  | (794 | )
Foreign exchange contracts |  | Foreign exchange income |  | (3,764 | ) |  | (597 | ) |  | (1,548 | ) |  | (3,226 | )
Total net losses |  |  |  | $ | (4,628 | ) |  | $ | (283 | ) |  | $ | (1,691 | ) |  | $ | (3,927 | )
Balance sheet offsetting of derivative assets and liabilities | The following tables present gross derivatives on the Consolidated Balance Sheets and the respective collateral received or pledged in the form of other financial instruments, which are generally marketable securities and/or cash. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability (after netting is applied); thus instances of overcollateralization are not shown:
($ in thousands) |  | As of September 30, 2015
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset on the Consolidated Balance Sheet |  | Net Amounts of Assets Presented on the Consolidated Balance Sheet |  | Gross Amounts Not Offset on the Consolidated Balance Sheet |  |
Assets |  |  |  |  | Financial Instruments |  | Collateral Received |  | Net Amount
Derivatives |  | $ | 6,510 |  |  | $ | — |  |  | $ | 6,510 |  |  | $ | (4,880 | ) | (1) | $ | (1,409 | ) | (2) | $ | 221 |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset on the Consolidated Balance Sheet |  | Net Amounts of Liabilities Presented on the Consolidated Balance Sheet |  | Gross Amounts Not Offset on the Consolidated Balance Sheet |  |
Liabilities |  |  |  |  | Financial Instruments |  | Collateral Posted |  | Net Amount
Derivatives |  | $ | 98,748 |  |  | $ | — |  |  | $ | 98,748 |  |  | $ | (4,880 | ) | (1) | $ | (90,622 | ) | (3) | $ | 3,246 |
($ in thousands) |  | As of December 31, 2014
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset on the Consolidated Balance Sheet |  | Net Amounts of Assets Presented on the Consolidated Balance Sheet |  | Gross Amounts Not Offset on the Consolidated Balance Sheet |  |
Assets |  |  |  |  | Financial Instruments |  | Collateral Received |  | Net Amount
Derivatives |  | $ | 12,383 |  |  | $ | — |  |  | $ | 12,383 |  |  | $ | (5,718 | ) | (1) | $ | (3,460 | ) | (2) | $ | 3,205 |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset on the Consolidated Balance Sheet |  | Net Amounts of Liabilities Presented on the Consolidated Balance Sheet |  | Gross Amounts Not Offset on the Consolidated Balance Sheet |  |
Liabilities |  |  |  |  | Financial Instruments |  | Collateral Posted |  | Net Amount
Derivatives |  | $ | 56,493 |  |  | $ | — |  |  | $ | 56,493 |  |  | $ | (5,718 | ) | (1) | $ | (49,948 | ) | (3) | $ | 827 |
(1) | Represents the netting of derivative receivable and payable balances for the same counterparty under enforceable master netting arrangements if the Company has elected to net.
(2) | Represents $1.4 million and $3.5 million of cash collateral received against derivative assets with the same counterparty that are subject to enforceable master netting arrangements as of September 30, 2015 and December 31, 2014, respectively.
(3) | Represents cash and securities pledged against derivative liabilities with the same counterparty that are subject to enforceable master netting arrangements. Includes approximately $24.7 million and $12.5 million of cash collateral posted as of September 30, 2015 and December 31, 2014, respectively.

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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=56946850&loc=SL5624163-113959 + Details
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