XML 44 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016, and that were included in the Company’s Consolidated Statements of Condition at those dates:

		Fair Value Measurements at June 30, 2017
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Netting Adjustments(1)				Total Fair Value
Assets:
Mortgage-Related Securities Available for Sale:
GSE certificates		$	—			$	2,002,643			$	—			$	—			$	2,002,643
GSE CMOs			—				621,605				—				—				621,605
Total mortgage-related securities		$	—			$	2,624,248			$	—			$	—			$	2,624,248
Other Securities Available for Sale:
U.S Treasury Obligations		$	199,992			$	—			$	—			$	—			$	199,992
GSE debentures			—				91,234				—				—				91,234
Corporate bonds			—				86,120				—				—				86,120
Municipal bonds			—				70,513				—				—				70,513
Capital trust notes			—				66,425				—				—				66,425
Preferred stock			15,435				—				—				—				15,435
Mutual funds and common stock			—				17,150				—				—				17,150
Total other securities		$	215,427			$	331,442			$	—			$	—			$	546,869
Total securities available for sale		$	215,427			$	2,955,690			$	—			$	—			$	3,171,117
Other Assets:
Loans held for sale		$	—			$	266,888			$	—			$	—			$	266,888
Mortgage servicing rights (held for sale at June 30, 2017)			—				—				220,586				—				220,586
Interest rate lock commitments			—				—				1,027				—				1,027
Derivative assets-other (2)			1,914				1,838				—				(2,402	)			1,350
Liabilities:
Derivative liabilities		$	(4,641	)		$	(1,272	)		$	—			$	1,702			$	(4,211	)

(1) Includes cash collateral received from, and paid to, counterparties.

(2) Includes $1.1 million to purchase Treasury options.

		Fair Value Measurements at December 31, 2016
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Netting Adjustments(1)				Total Fair Value
Assets:
Mortgage-Related Securities Available for Sale:
GSE certificates		$	—			$	7,326			$	—			$	—			$	7,326
Total mortgage-related securities		$	—			$	7,326			$	—			$	—			$	7,326
Other Securities Available for Sale:
Municipal bonds		$	—			$	631			$	—			$	—			$	631
Capital trust notes			—				7,243				—				—				7,243
Preferred stock			42,724				29,260				—				—				71,984
Mutual funds and common stock			—				17,097				—				—				17,097
Total other securities		$	42,724			$	54,231			$	—			$	—			$	96,955
Total securities available for sale		$	42,724			$	61,557			$	—			$	—			$	104,281
Other Assets:
Loans held for sale		$	—			$	409,152			$	—			$	—			$	409,152
Mortgage servicing rights			—				—				228,099				—				228,099
Interest rate lock commitments			—				—				982				—				982
Derivative assets-other (2)			2,611				16,829				—				(17,861	)			1,579
Liabilities:
Derivative liabilities		$	(6,009	)		$	(17,719	)		$	—			$	16,588			$	(7,140	)

(1) Includes cash collateral received from, and paid to, counterparties.

(2) Includes $1.9 million to purchase Treasury options.

Difference between Fair Value Option and Unpaid Principal Balance

The following table reflects the difference between the fair value carrying amount of loans held for sale, for which the Company has elected the fair value option, and the unpaid principal balance:

		June 30, 2017												December 31, 2016
(in thousands)		Fair Value Carrying Amount				Aggregate Unpaid Principal				Fair Value Carrying Amount Less Aggregate Unpaid Principal				Fair Value Carrying Amount				Aggregate Unpaid Principal				Fair Value Carrying Amount Less Aggregate Unpaid Principal
Loans held for sale		$	266,888			$	260,464			$	6,424			$	409,152			$	408,928			$	224

Changes in Fair Value of Loans Held For Sale

The following table presents the changes in fair value related to initial measurement, and the subsequent changes in fair value included in earnings, for loans held for sale and MSRs for the periods indicated:

		Gain (Loss) Included in Mortgage Banking Income from Changes in Fair Value (1)
		For the Three Months Ended June 30,								For the Six Months Ended June 30,
(in thousands)		2017				2016 (2)				2017				2016 (2)
Loans held for sale		$	658			$	933			$	595			$	3,802
Mortgage servicing rights (held for sale at June 30, 2017)			(7,621	)			(30,988	)			(10,348	)			(68,081	)
Total loss		$	(6,963	)		$	(30,055	)		$	(9,753	)		$	(64,279	)

(1) Does not include the effect of economic hedging activities, which is included in “Other non-interest income.”

(2) The presentation of the amounts for the three and six months ended June 30, 2016 has been modified to conform to the presentation for the three and six months ended June 30, 2017.

Rollforward of Financial Instruments Classified in Level Three of Valuation Hierarchy

The following tables present, for the six months ended June 30, 2017 and 2016, a roll-forward of the balance sheet amounts (including changes in fair value) for financial instruments classified in Level 3 of the valuation hierarchy:

(in thousands)		Fair Value January 1, 2017				Total Realized/Unrealized Gains/(Losses) Recorded in								Issuances				Settlements				Transfers to/(from) Level 3				Fair Value at June 30, 2017				Change in Unrealized Gains/ (Losses) Related to Instruments Held at June 30, 2017
						Income/ (Loss)				Comprehensive (Loss) Income
Mortgage servicing rights (held for sale at June 30, 2017)		$	228,099			$	(19,496	)		$	—			$	11,983			$	—			$	—			$	220,586			$	(10,348	)
Interest rate lock commitments			982				45				—				—				—				—				1,027				1,027
(in thousands)		Fair Value January 1, 2016				Total Realized/Unrealized Gains/(Losses) Recorded in								Issuances				Settlements				Transfers to/(from) Level 3				Fair Value at June 30, 2016				Change in Unrealized Gains/ (Losses) Related to Instruments Held at June 30, 2016
						Income/ (Loss)				Comprehensive (Loss) Income
Mortgage servicing rights		$	243,389			$	(74,238	)		$	—			$	19,180			$	—			$	—			$	188,331			$	(60,163	)
Interest rate lock commitments			2,526				7,607				—				—				—				—				10,133				10,133

Significant Unobservable Inputs used in Fair Value Measurement

For Level 3 assets and liabilities measured at fair value on a recurring basis as of June 30, 2017, the significant unobservable inputs used in the fair value measurements were as follows:

(dollars in thousands)		Fair Value at June 30, 2017		Valuation Technique		Significant Unobservable Inputs		Significant Unobservable Input Value
Mortgage servicing rights (held for sale at June 30, 2017)		$220,586		Discounted Cash Flow		Weighted Average Constant Prepayment Rate (1)			9.16	%
						Weighted Average Discount Rate			10.05
Interest rate lock commitments		1,027		Discounted Cash Flow		Weighted Average Closing Ratio			75.04

(1) Represents annualized loan repayment rate assumptions.

Summary of Carrying Values, Estimated Fair Values and Fair Value Measurement Levels of Financial Instruments

The following tables present assets and liabilities that were measured at fair value on a non-recurring basis as of June 30, 2017 and December 31, 2016, and that were included in the Company’s consolidated statements of condition at those dates:

		Fair Value Measurements at June 30, 2017 Using
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
Certain impaired loans (1)		$	—			$	—			$	45,412			$	45,412
Securities transferred to available-for-sale			199,992				2,923,081				—				3,123,073
Loans transferred to held for sale			—				—				1,536,836				1,536,836
Other assets (2)			—				—				1,546				1,546
Total		$	199,992			$	2,923,081			$	1,583,794			$	4,706,867

(1) Represents the fair value of impaired loans, based on the value of the collateral.

(2) Represents the fair value of OREO, based on the appraised value of the collateral subsequent to its initial classification as OREO.

		Fair Value Measurements at December 31, 2016 Using
(in thousands)		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value
Certain impaired loans (1)		$	—			$	—			$	15,635			$	15,635
Other assets (2)			—				—				5,684				5,684
Total		$	—			$	—			$	21,319			$	21,319

(1) Represents the fair value of impaired loans, based on the value of the collateral, primarily taxi medallion loans .

(2) Represents the fair value of OREO, based on the appraised value of the collateral subsequent to its initial classification as OREO.

Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

The following tables summarize the carrying values, estimated fair values, and fair value measurement levels of financial instruments that were not carried at fair value on the Company’s Consolidated Statements of Condition at the dates indicated:

		June 30, 2017
										Fair Value Measurement Using
(in thousands)		Carrying Value				Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents		$	1,129,846			$	1,129,846			$	1,129,846			$	—			$	—
FHLB stock (1)			589,067				589,067				—				589,067				—
Loans, net			38,900,080				39,226,420				—				—				39,226,420
Financial Liabilities:
Deposits		$	28,893,565			$	28,879,234			$	20,662,712	(2)		$	8,216,522	(3)		$	—
Borrowed funds			12,363,526				12,327,278				—				12,327,278				—

(1) Carrying value and estimated fair value are at cost.

(2) NOW and money market accounts, savings accounts, and non-interest-bearing accounts.

(3) Certificates of deposit.

		December 31, 2016
										Fair Value Measurement Using
(in thousands)		Carrying Value				Estimated Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Financial Assets:
Cash and cash equivalents		$	557,850			$	557,850			$	557,850			$	—			$	—
Securities held to maturity			3,712,776				3,813,959				200,220				3,613,739				—
FHLB stock (1)			590,934				590,934				—				590,934				—
Loans, net			39,308,016				39,416,469				—				—				39,416,469
Financial Liabilities:
Deposits		$	28,887,903			$	28,888,064			$	21,310,733	(2)		$	7,577,331	(3)		$	—
Borrowed funds			13,673,379				13,633,943				—				13,633,943				—

(1) Carrying value and estimated fair value are at cost.

(2) NOW and money market accounts, savings accounts, and non-interest-bearing accounts.

(3) Certificates of deposit.

X

- Definition

Fair Value, Assets Measured on Recurring Basis, Valuation Techniques.

+ References

No definition available.

+ Details

Name:	nyb_FairValueAssetsMeasuredOnRecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	nyb_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Loans Held For Sale

+ References

No definition available.

+ Details

Name:	nyb_LoansHeldForSaleTableTextBlock
Namespace Prefix:	nyb_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=75026489&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=77997519&loc=d3e13433-108611

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the application of the fair value option for measurement and reporting of eligible financial assets and liabilities (as defined), as well as certain other eligible items (as defined) included in the statement of financial position, whether such option is elected for a single eligible item or a group of similar eligible items and is in addition to other disclosures concerning fair value which the company may be required to provide. Such disclosure might be expected to include: (1) for items included in the statement of financial position: (a) the reasons for electing a fair value option for each eligible item or group of similar eligible items and (b) if the fair value option is elected for some but not all eligible items within a group of similar eligible items: (i) a description of those similar items and the reasons for partial election and (ii) information of how the group of similar items relates to individual balance sheet line items; (c) for each line item in the statement of financial position that includes an item or items for which the fair value option has been elected, information of how each line item in the statement of financial position relates to major categories of assets and liabilities presented in accordance with other fair value disclosures; (2) for items included in the income statement: (a) a description of how interest and dividends are measured and where they are reported in the income statement; (b) how the gains or losses attributable to changes in instrument-specific credit risk were determined; (c) for liabilities with fair values that have been significantly affected during the reporting period by changes in the instrument-specific credit risk: (i) qualitative information about the reasons for the changes and (ii) how the gains and losses attributable to changes in instrument-specific credit risk were determined; and (3) certain other disclosures as required or determined to be provided.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14210-108612

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14217-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (a),(b),(c)(1)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b),(c)(2),(d)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14172-108612

+ Details

Name:	us-gaap_FairValueOptionQualitativeDisclosuresRelatedToElectionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration