Investor Presentaiton
P.R. Public Sector Exposure
The Corporation does not own any loans issued by the P.R. central government or its public corporations. As of
September 30, 2023, our direct exposure to P.R. municipalities was $333 million, down by $18 million QoQ
Municipalities
Obligations of municipalities are backed by
real and personal property taxes, municipal
excise taxes, and/or a percentage of the sales
and use tax
Indirect Exposure
Indirect exposure includes loans or securities
that are payable by non-governmental
entities, but which carry a government
guarantee to cover any shortfall in collateral
in the event of borrower default. Majority are
single-family mortgage related
Outstanding P.R. government exposure
($ in millions)
Loans
Securities
Total
Municipalities
$
314 $
19 $
333
Indirect Exposure
$
195 $
47 $
242
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