Debt securities available-for-sale (Tables)

6 Months Ended

Jun. 30, 2019

Investments [Abstract]

Debt Securities, Available-For-Sale

		At June 30, 2019
				Gross		Gross				Weighted
		Amortized		unrealized		unrealized		Fair		average
(In thousands)		cost		gains		losses		value		yield
U.S. Treasury securities
	Within 1 year	$	6,143,915	$	3,097	$	2,697	$	6,144,315	2.08	%
	After 1 to 5 years		4,265,188		76,531		1,669		4,340,050	2.34
	After 5 to 10 years		7,064		235		-		7,299	2.41
Total U.S. Treasury securities			10,416,167		79,863		4,366		10,491,664	2.19
Obligations of U.S. Government sponsored entities
	Within 1 year		186,092		1		527		185,566	1.45
	After 1 to 5 years		60,752		2		373		60,381	1.54
Total obligations of U.S. Government sponsored entities			246,844		3		900		245,947	1.47
Obligations of Puerto Rico, States and political subdivisions
	Within 1 year		6,975		-		97		6,878	-
Total obligations of Puerto Rico, States and political subdivisions			6,975		-		97		6,878	-
Collateralized mortgage obligations - federal agencies
	After 1 to 5 years		902		1		2		901	2.01
	After 5 to 10 years		98,268		22		1,851		96,439	1.66
	After 10 years		577,850		4,278		8,300		573,828	2.10
Total collateralized mortgage obligations - federal agencies			677,020		4,301		10,153		671,168	2.04
Mortgage-backed securities
	Within 1 year		69		1		-		70	2.37
	After 1 to 5 years		42,319		841		1		43,159	3.32
	After 5 to 10 years		301,619		1,755		2,148		301,226	2.04
	After 10 years		4,969,253		46,278		41,325		4,974,206	2.61
Total mortgage-backed securities			5,313,260		48,875		43,474		5,318,661	2.59
Other
	After 5 to 10 years		396		8		-		404	3.62
Total other			396		8		-		404	3.62
Total debt securities available-for-sale[1]		$	16,660,662	$	133,050	$	58,990	$	16,734,722	2.30	%
[1]	Includes $11.5 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $10.3 billion serve as collateral for public funds.

		At December 31, 2018
				Gross		Gross				Weighted
		Amortized		unrealized		unrealized		Fair		average
(In thousands)		cost		gains		losses		value		yield
U.S. Treasury securities
	Within 1 year	$	3,565,571	$	108	$	5,319	$	3,560,360	2.10	%
	After 1 to 5 years		4,483,741		13,647		35,213		4,462,175	2.25
	After 5 to 10 years		245,891		3,770		-		249,661	2.84
Total U.S. Treasury securities			8,295,203		17,525		40,532		8,272,196	2.21
Obligations of U.S. Government sponsored entities
	Within 1 year		212,951		-		1,406		211,545	1.44
	After 1 to 5 years		123,857		1		2,094		121,764	1.51
Total obligations of U.S. Government sponsored entities			336,808		1		3,500		333,309	1.47
Obligations of Puerto Rico, States and political subdivisions
	After 1 to 5 years		6,926		-		184		6,742	0.70
Total obligations of Puerto Rico, States and political subdivisions			6,926		-		184		6,742	0.70
Collateralized mortgage obligations - federal agencies
	After 1 to 5 years		749		-		7		742	1.92
	After 5 to 10 years		115,744		1		4,715		111,030	1.71
	After 10 years		638,995		1,584		23,680		616,899	2.10
Total collateralized mortgage obligations - federal agencies			755,488		1,585		28,402		728,671	2.04
Mortgage-backed securities
	Within 1 year		431		4		-		435	4.30
	After 1 to 5 years		6,762		43		1		6,804	2.74
	After 5 to 10 years		365,727		1,090		8,499		358,318	2.19
	After 10 years		3,710,731		10,679		128,189		3,593,221	2.45
Total mortgage-backed securities			4,083,651		11,816		136,689		3,958,778	2.43
Other
	After 5 to 10 years		486		2		-		488	3.62
Total other			486		2		-		488	3.62
Total debt securities available-for-sale[1]		$	13,478,562	$	30,929	$	209,307	$	13,300,184	2.25	%
[1]	Includes $8.9 billion pledged to secure public and trust deposits, assets sold under agreements to repurchase, credit facilities and loan servicing agreements that the secured parties are not permitted to sell or repledge the collateral, of which $7.9 billion serve as collateral for public funds.

Debt Securities Available For Sale Unrealized Loss Position Fair Value

	At June 30, 2019
	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
	Fair		unrealized		Fair		unrealized		Fair		unrealized
(In thousands)	value		losses		value		losses		value		losses
U.S. Treasury securities	$	746,094	$	102	$	1,094,470	$	4,264	$	1,840,564	$	4,366
Obligations of U.S. Government sponsored entities		-		-		230,782		900		230,782		900
Obligations of Puerto Rico, States and political subdivisions		-		-		6,878		97		6,878		97
Collateralized mortgage obligations - federal agencies		-		-		455,372		10,153		455,372		10,153
Mortgage-backed securities		2,472		21		2,840,618		43,453		2,843,090		43,474
Total debt securities available-for-sale in an unrealized loss position	$	748,566	$	123	$	4,628,120	$	58,867	$	5,376,686	$	58,990

	At December 31, 2018
	Less than 12 months				12 months or more				Total
			Gross				Gross				Gross
	Fair		unrealized		Fair		unrealized		Fair		unrealized
(In thousands)	value		losses		value		losses		value		losses
U.S. Treasury securities	$	3,189,007	$	4,188	$	2,607,276	$	36,343	$	5,796,283	$	40,531
Obligations of U.S. Government sponsored entities		14,847		46		318,271		3,454		333,118		3,500
Obligations of Puerto Rico, States and political subdivisions		-		-		6,742		184		6,742		184
Collateralized mortgage obligations - federal agencies		66,652		489		587,869		27,913		654,521		28,402
Mortgage-backed securities		125,872		2,280		3,478,635		134,410		3,604,507		136,690
Total debt securities available-for-sale in an unrealized loss position	$	3,396,378	$	7,003	$	6,998,793	$	202,304	$	10,395,171	$	209,307

Schedule Of Securities Aggregate Amortized Cost Exceed 10 Of Stockholders Equity

		June 30, 2019				December 31, 2018
(In thousands)	Amortized cost		Fair value		Amortized cost		Fair value
FNMA	$	3,502,643	$	3,494,538	$	2,999,110	$	2,901,904
Freddie Mac		1,770,076		1,774,321		1,095,855		1,058,013