Balance Sheet Offsetting

Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. The Corporation’s derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Corporation does not generally offset such financial instruments for financial reporting purposes.

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of March 31, 2014 is presented in the following tables.



	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
March 31, 2014
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	9,862	$	—	$	9,862
Commodity swaps and options	3,180		—		3,180
Foreign currency forward contracts	2		—		2
Total derivatives	13,044		—		13,044
Resell agreements	4,898		—		4,898
Total	$	17,942	$	—	$	17,942
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps	$	36,911	$	—	$	36,911
Commodity swaps and options	9,625		—		9,625
Foreign currency forward contracts	250		—		250
Total derivatives	46,786		—		46,786
Repurchase agreements	514,410		—		514,410
Total	$	561,196	$	—	$	561,196



			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments			Collateral			Net Amount
March 31, 2014
Financial assets:
Derivatives:
Counterparty A	$	2,486	$	(2,486	)	$	—		$	—
Counterparty B	6,164		(6,164		)	—			—
Counterparty C	842		(842		)	—			—
Other counterparties	3,552		(2,355		)	(1,197		)	—
Total derivatives	13,044		(11,847		)	(1,197		)	—
Resell agreements	4,898		—			(4,898		)	—
Total	$	17,942	$	(11,847	)	$	(6,095	)	$	—
Financial liabilities:
Derivatives:
Counterparty A	$	18,562	$	(2,486	)	$	(16,076	)	$	—
Counterparty B	10,999		(6,164		)	(4,835		)	—
Counterparty C	12,540		(842		)	(11,698		)	—
Other counterparties	4,685		(2,355		)	(2,051		)	279
Total derivatives	46,786		(11,847		)	(34,660		)	279
Repurchase agreements	514,410		—			(514,410		)	—
Total	$	561,196	$	(11,847	)	$	(549,070	)	$	279

Information about financial instruments that are eligible for offset in the consolidated balance sheet as of December 31, 2013 is presented in the following tables.



	Gross Amount Recognized		Gross Amount Offset		Net Amount Recognized
December 31, 2013
Financial assets:
Derivatives:
Loan/lease interest rate swaps and caps	$	12,268	$	—	$	12,268
Commodity swaps and options	3,907		—		3,907
Foreign currency forward contracts	90		—		90
Total derivatives	16,265		—		16,265
Resell agreements	7,898		—		7,898
Total	$	24,163	$	—	$	24,163
Financial liabilities:
Derivatives:
Loan/lease interest rate swaps	$	36,660	$	—	$	36,660
Commodity swaps and options	5,916		—		5,916
Foreign currency forward contracts	27		—		27
Total derivatives	42,603		—		42,603
Repurchase agreements	668,053		—		668,053
Total	$	710,656	$	—	$	710,656



			Gross Amounts Not Offset
	Net Amount Recognized		Financial Instruments			Collateral			Net Amount
December 31, 2013
Financial assets:
Derivatives:
Counterparty A	$	3,342	$	(3,342	)	$	—		$	—
Counterparty B	8,196		(8,196		)	—			—
Counterparty C	1,187		(1,187		)	—			—
Other counterparties	3,540		(2,099		)	(1,360		)	81
Total derivatives	16,265		(14,824		)	(1,360		)	81
Resell agreements	7,898		—			(7,898		)	—
Total	$	24,163	$	(14,824	)	$	(9,258	)	$	81
Financial liabilities:
Derivatives:
Counterparty A	$	18,615	$	(3,342	)	$	(15,167	)	$	106
Counterparty B	9,054		(8,196		)	(613		)	245
Counterparty C	10,870		(1,187		)	(9,683		)	—
Other counterparties	4,064		(2,099		)	(1,549		)	416
Total derivatives	42,603		(14,824		)	(27,012		)	767
Repurchase agreements	668,053		—			(668,053		)	—
Total	$	710,656	$	(14,824	)	$	(695,065	)	$	767