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Deposits | 9 Months Ended
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Sep. 30, 2022
Deposits [Abstract] |
Deposits | Note 15 – Deposits Total interest bearing deposits as of the end of the periods presented consisted of:
(In thousands) | September 30, 2022 | December 31, 2021
Savings accounts | $ | 15,818,260 | $ | 15,871,998
NOW, money market and other interest bearing demand deposits |  | 24,466,437 |  | 28,736,459
Total savings, NOW, money market and other interest bearing demand deposits |  | 40,284,697 |  | 44,608,457
Certificates of deposit: |  |  |  |
| Under $250,000 |  | 4,108,397 |  | 4,086,059
| $250,000 and over |  | 2,820,894 |  | 2,626,090
Total certificates of deposit |  | 6,929,291 |  | 6,712,149
Total interest bearing deposits | $ | 47,213,988 | $ | 51,320,606
A summary of certificates of deposits by maturity at September 30, 2022 follows:
(In thousands) |  |
2022 | $ | 2,384,127
2023 |  | 2,060,978
2024 |  | 889,589
2025 |  | 652,629
2026 |  | 449,915
2027 and thereafter |  | 492,053
Total certificates of deposit | $ | 6,929,291
At September 30, 2022, the Corporation had brokered deposits amounting to $ 0.9 billion (December 31, 2021 - $ 0.8 billion). The aggregate amount of overdrafts in demand deposit accounts that were reclassified to loans was $16.4 million at September 30, 2022 (December 31, 2021 - $6 million). At September 30, 2022, public sector deposits amounted to $17.5 billion. These include $1.4 billion transferred out of BPPR at the beginning of October and exclude $727 million in deposits managed by the Corporation’s Fiduciary Services Division, where it acts as custodian or escrow agent. Public deposit balances are difficult to predict. For example, the receipt by the Puerto Rico Government of hurricane recovery related Federal assistance, and seasonal tax collections, could increase public deposit balances at BPPR. On the other hand, the amount and timing of reductions in balances are likely to be impacted by, for example, the speed at which COVID-19 pandemic and hurricane recovery federal assistance is distributed, the financial condition, liquidity and cash management practices of the Puerto Rico Government and its instrumentalities and the implementation of fiscal and debt adjustment plans approved pursuant to PROMESA or other actions mandated by the Fiscal Oversight and Management Board for Puerto Rico (the “Oversight Board”).

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph (e) Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1406 + Details
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