MONEY MARKET INVESTMENTS

12 Months Ended

Dec. 31, 2020

Cash and Cash Equivalents, at Carrying Value [Abstract]

Money Market Investments [Text Block]

NOTE 4 – MONEY MARKET INVESTMENTSMoney market investments are composed of time deposits, overnight deposits with other financial institutions, and other short-term investments with original maturities of three months or less.

Money market investments as of December 31, 2020 and 2019 were as follows:
	2020		2019
(Dollars in thousands)
Time deposits with other financial institutions (1) (2)	$	300	$	300
Overnight deposits with other financial institutions (3)		59,091		96,228
Other short-term investments (4)		1,181		1,180
	$	60,572	$	97,708

Consists of restricted time deposits required by the Puerto Rico International Banking Law.Weighted-average interest rate of 0.45% and 1.00% as of December 31, 2020 and 2019, respectively.Weighted-average interest rate of 0.15% and 1.63% as of December 31, 2020 and 2019, respectively.Weighted-average interest rate of 0.11% as of each December 31, 2020 and 2019.As of December 31, 2020 and 2019, the Corporation had no money market investments pledged as collateral.