Commitments and contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure

Financial Instruments with Off-Balance Sheet Credit Risk, Whose Contract Amounts Represent Potential Credit Risk

Financial instruments with off-balance sheet credit risk, whose contract amounts represent potential credit risk as of the end of the periods presented were as follows:

(In thousands)		March 31, 2021		December 31, 2020
Commitments to extend credit:
	Credit card lines	$	5,271,202	$	5,226,660
	Commercial and construction lines of credit		3,844,356		3,805,459
	Other consumer unused credit commitments		251,574		257,312
Commercial letters of credit			3,090		1,864
Standby letters of credit			21,330		22,266
Commitments to originate or fund mortgage loans			107,464		96,786

Direct exposure to the Puerto Rico government by maturity

The following table details the loans and investments representing the Corporation’s direct exposure to the Puerto Rico government according to their maturities as of March 31, 2021:

(In thousands)		Investment Portfolio		Loans		Total Outstanding		Total Exposure
Central Government
After 1 to 5 years	$	3	$	-	$	3	$	3
After 5 to 10 years		16		-		16		16
After 10 years		36		-		36		36
Total Central Government		55		-		55		55
Municipalities
Within 1 year		4,165		17,147		21,312		21,312
After 1 to 5 years		14,765		133,365		148,130		148,130
After 5 to 10 years		13,210		120,935		134,145		134,145
After 10 years		450		70,478		70,928		70,928
Total Municipalities		32,590		341,925		374,515		374,515
Total Direct Government Exposure	$	32,645	$	341,925	$	374,570	$	374,570