Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 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)

December 31, 2022

December 31, 2021

Commitments to extend credit:

Credit card lines

$

5,853,990

$

5,382,089

Commercial and construction lines of credit

4,425,825

3,830,601

Other consumer unused credit commitments 

250,271

250,229

Commercial letters of credit

3,351

3,260

Standby letters of credit

27,868

27,848

Commitments to originate or fund mortgage loans

45,170

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 December 31, 2022:

(In thousands)

Investment

Portfolio

Loans

Total Outstanding

Total Exposure

Central Government

After 1 to 5 years

$

12

$

-

$

12

$

12

After 5 to 10 years

1

-

1

1

After 10 years

29

-

29

29

Total Central Government

42

-

42

42

Municipalities

Within 1 year

4,530

20,243

24,773

42,962

After 1 to 5 years

19,105

101,009

120,114

149,114

After 5 to 10 years

1,025

131,202

132,227

132,227

After 10 years

-

49,831

49,831

49,831

Total Municipalities

24,660

302,285

326,945

374,134

Total Direct Government Exposure

$

24,702

$

302,285

$

326,987

$

374,176