Commitments and contingencies (Tables)

9 Months Ended

Sep. 30, 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)		September 30, 2021		December 31, 2020
Commitments to extend credit:
	Credit card lines	$	5,323,511	$	5,226,660
	Commercial and construction lines of credit		3,690,856		3,805,459
	Other consumer unused credit commitments		249,522		257,312
Commercial letters of credit			4,669		1,864
Standby letters of credit			23,117		22,266
Commitments to originate or fund mortgage loans			107,003		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 September 30, 2021:

(In thousands)		Investment Portfolio		Loans		Total Outstanding		Total Exposure
Central Government
After 1 to 5 years	$	6	$	-	$	6	$	6
After 5 to 10 years		5		-		5		5
After 10 years		37		-		37		37
Total Central Government		48		-		48		48
Municipalities
Within 1 year		4,240		68,650		72,890		72,890
After 1 to 5 years		14,395		70,871		85,266		104,323
After 5 to 10 years		11,280		120,812		132,092		132,092
After 10 years		230		55,257		55,487		55,487
Total Municipalities		30,145		315,590		345,735		364,792
Total Direct Government Exposure	$	30,193	$	315,590	$	345,783	$	364,840