Commitments and contingencies (Tables)

3 Months Ended

Mar. 31, 2023

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, 2023

December 31, 2022

Commitments to extend credit:

Credit card lines

$

5,956,261

$

5,853,990

Commercial and construction lines of credit

4,727,401

4,425,825

Other consumer unused credit commitments 

249,773

250,271

Commercial letters of credit

1,982

3,351

Standby letters of credit

28,938

27,868

Commitments to originate or fund mortgage loans

36,662

45,170

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, 2023:

(In thousands)

Investment

Portfolio

Loans

Total Outstanding

Total Exposure

Central Government

After 1 to 5 years

$

10

$

-

$

10

$

10

After 5 to 10 years

1

-

1

1

After 10 years

30

-

30

30

Total Central Government

41

-

41

41

Municipalities

Within 1 year

4,730

20,243

24,973

24,973

After 1 to 5 years

15,805

101,009

116,814

145,814

After 5 to 10 years

1,025

131,202

132,227

132,227

After 10 years

-

49,831

49,831

49,831

Total Municipalities

21,560

302,285

323,845

352,845

Total Direct Government Exposure

$

21,601

$

302,285

$

323,886

$

352,886