Commitments and contingencies (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022		December 31, 2021
Commitments to extend credit:
	Credit card lines	$	5,811,972	$	5,382,089
	Commercial and construction lines of credit		4,197,401		3,830,601
	Other consumer unused credit commitments		249,167		250,229
Commercial letters of credit			1,687		3,260
Standby letters of credit			22,049		27,848
Commitments to originate or fund mortgage loans			80,102		95,372

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, 2022:

(In thousands)			Investment Portfolio		Loans		Total Outstanding		Total Exposure
Central Government
	After 1 to 5 years	$	13	$	-	$	13	$	13
	After 5 to 10 years		1		-		1		1
	After 10 years		28		-		28		28
Total Central Government			42		-		42		42
Municipalities
	Within 1 year		4,530		23,618		28,148		46,337
	After 1 to 5 years		19,105		100,776		119,881		144,881
	After 5 to 10 years		1,025		123,290		124,315		124,315
	After 10 years		-		49,831		49,831		49,831
Total Municipalities			24,660		297,515		322,175		365,364
Total Direct Government Exposure		$	24,702	$	297,515	$	322,217	$	365,406