Commitments and contingencies (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024

December 31, 2023

Commitments to extend credit:

Credit card lines

$

5,582,089

$

6,108,939

Commercial lines of credit

3,874,209

3,626,269

Construction lines of credit

1,234,365

1,287,679

Other consumer unused credit commitments 

261,470

256,610

Commercial letters of credit

2,157

1,404

Standby letters of credit

123,685

80,889

Commitments to originate or fund mortgage loans

23,217

32,968

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, 2024

(In thousands)

Investment

Portfolio

Loans

Total Outstanding

Total Exposure

Central Government

Within 1 year

3

-

3

3

After 5 to 10 years

1

-

1

1

After 10 years

42

-

42

42

Total Central Government

46

-

46

46

Municipalities

Within 1 year

2,440

12,764

15,204

15,204

After 1 to 5 years

9,520

147,033

156,553

156,553

After 5 to 10 years

655

119,073

119,728

119,728

After 10 years

-

44,582

44,582

44,582

Total Municipalities

12,615

323,452

336,067

336,067

Total Direct Government Exposure

$

12,661

$

323,452

$

336,113

$

336,113