Commitments and contingencies (Tables)

6 Months Ended

Jun. 30, 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)

June 30, 2023

December 31, 2022

Commitments to extend credit:

Credit card lines

$

6,008,516

$

5,853,990

Commercial and construction lines of credit

4,381,533

4,425,825

Other consumer unused credit commitments 

249,211

250,271

Commercial letters of credit

2,256

3,351

Standby letters of credit

29,404

27,868

Commitments to originate or fund mortgage loans

43,593

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 June 30, 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

13,089

17,819

42,819

After 1 to 5 years

20,282

115,804

136,086

140,086

After 5 to 10 years

1,025

146,681

147,706

147,706

After 10 years

-

49,831

49,831

49,831

Total Municipalities

26,037

325,405

351,442

380,442

Total Direct Government Exposure

$

26,078

$

325,405

$

351,483

$

380,483