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OFFSETTING OF ASSETS AND LIABILITIES | 12 Months Ended
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Dec. 31, 2017
Text Block [Abstract] |
OFFSETTING OF ASSETS AND LIABILITIES | NOTE 33 – OFFSETTING OF ASSETS AND LIABILITIES The Corporation enters into master agreements with counterparties, primarily related to derivatives and repurchase ag reements, that may allow for netting of exposures in the event of default. In an event of default, each party has a right of set-off against the other party for amounts owed under the related agreement and any ot her amount or obligation owed with respect t o any other agreement or transaction between them. The following table presen ts information about the offsetting of financial as sets and liabilities as well as derivative assets and liabilities:
Offsetting of Financial Assets and Derivative Assets
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Net Amounts of Assets Presented in the Consolidated Statement of Financial Position |  |  |  |  |  |  |  |  |
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Consolidated Statement of Financial Position |  |  | Gross Amounts Not Offset in the Consolidated Statement of Financial Position |  |
|  |  |  |  | Financial Instruments |  | Cash Collateral |  |
|  |  |  |  |  |  | Net Amount
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Description |  |  |
Derivatives |  | $ | 305 |  | $ | - |  | $ | 305 |  | $ | (305) |  | $ | - |  | $ | -
Securities purchased under agreement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
to resell |  |  | 200,000 |  |  | (200,000) |  |  | - |  |  | - |  |  | - |  |  | -
Total |  | $ | 200,305 |  | $ | (200,000) |  | $ | 305 |  | $ | (305) |  | $ | - |  | $ | -
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Net Amounts of Assets Presented in the Consolidated Statement of Financial Position |  |  |  |  |  |  |  |  |
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Consolidated Statement of Financial Position |  |  | Gross Amounts Not Offset in the Consolidated Statement of Financial Position |  |
|  |  |  |  | Financial Instruments |  | Cash Collateral |  |
|  |  |  |  |  |  | Net Amount
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Description |  |  |
Derivatives |  | $ | 554 |  | $ | - |  | $ | 554 |  | $ | (554) |  | $ | - |  | $ | -
Securities purchased under agreement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
to resell |  |  | 200,000 |  |  | (200,000) |  |  | - |  |  | - |  |  | - |  |  | -
Total |  | $ | 200,554 |  | $ | (200,000) |  | $ | 554 |  | $ | (554) |  | $ | - |  | $ | -
Offsetting of Financial Liabilities and Derivative Liabilities
As of December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Position |  |  |  |  |  |  |  |  |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
|  |  |  |  | Financial Instruments |  | Cash Collateral |  |
|  |  |  |  |  |  | Net Amount
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Description |  |  |
Securities sold under agreements to repurchase |  | $ | 500,000 |  | $ | (200,000) |  | $ | 300,000 |  | $ | (300,000) |  | $ | - |  | $ | -
As of December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  | Net Amounts of Liabilities Presented in the Statement of Financial Position |  |  |  |  |  |  |  |  |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
|  |  |  |  | Financial Instruments |  | Cash Collateral |  |
|  |  |  |  |  |  | Net Amount
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Description |  |  |
Securities sold under agreements to repurchase |  | $ | 200,000 |  | $ | (200,000) |  | $ | - |  | $ | - |  | $ | - |  | $ | -

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- Definition Disclosure related to master netting agreements entered by the Corporation with different counterparties that may allow netting of exposures in the event of default. + References No definition available. + Details
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- References No definition available. + Details
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