Commitments and contingencies (Tables)

9 Months Ended

Sep. 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)

September 30, 2023

December 31, 2022

Commitments to extend credit:

Credit card lines

$

5,720,469

$

5,853,990

Commercial and construction lines of credit

4,374,553

4,425,825

Other consumer unused credit commitments 

250,571

250,271

Commercial letters of credit

3,083

3,351

Standby letters of credit

53,089

27,868

Commitments to originate or fund mortgage loans

25,104

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 September 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

29

-

29

29

Total Central Government

40

-

40

40

Municipalities

Within 1 year

4,820

13,217

18,037

43,037

After 1 to 5 years

13,155

141,519

154,674

158,674

After 5 to 10 years

845

112,169

113,014

113,014

After 10 years

-

46,823

46,823

46,823

Total Municipalities

18,820

313,728

332,548

361,548

Total Direct Government Exposure

$

18,860

$

313,728

$

332,588

$

361,588