Restrictions on cash and due from banks and certain securities	3 Months Ended
Mar. 31, 2021
Disclosure Text Block Abstract
Restricted On Cash And Due From Banks And Certain Securities	Note 4 - Restrictions on cash and due from banks and certain securities BPPR is required by regulatory agencies to maintain average reserve balances with the Federal Reserve Bank of New York (the “Fed”) or other banks. Those required average reserve balances amounted to $ 2.5 billion at March 31, 2021 (December 31, 2020 - $ 2.3 billion). Cash and due from banks, as well as other highly liquid securities, are used to cover the required average reserve balances. At March 31, 2021, the Corporation held $ 41 million in restricted assets in the form of funds deposited in money market accounts, debt securities available for sale and equity securities (December 31, 2020 - $ 39 million). The restricted assets held in debt securities available for sale and equity securities consist primarily of assets held for the Corporation’s non-qualified retirement plans and fund deposits guaranteeing possible liens or encumbrances over the title of insured properties.

Restrictions on cash and due from banks and certain securities

3 Months Ended

Mar. 31, 2021

Restricted On Cash And Due From Banks And Certain Securities

Note 4 - Restrictions on cash and due from banks and certain securities

BPPR is required by regulatory agencies to maintain average reserve balances with the Federal Reserve Bank of New York (the “Fed”) or other banks. Those required average reserve balances amounted to $ 2.5 billion at March 31, 2021 (December 31, 2020 - $ 2.3 billion). Cash and due from banks, as well as other highly liquid securities, are used to cover the required average reserve balances.

At March 31, 2021, the Corporation held $ 41 million in restricted assets in the form of funds deposited in money market accounts, debt securities available for sale and equity securities (December 31, 2020 - $ 39 million). The restricted assets held in debt securities available for sale and equity securities consist primarily of assets held for the Corporation’s non-qualified retirement plans and fund deposits guaranteeing possible liens or encumbrances over the title of insured properties.