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Regulatory capital requirements | 12 Months Ended
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Dec. 31, 2023
Regulatory Capital Requirements |
Regulatory Capital Requirments | Note 21 – Regulatory capital requirements The Corporation, BPPR and PB are subject to various regulatory capital requirements imposed by the federal banking agencies. Failure to meet minimum capital requirements can lead to certain mandatory and additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Corporation’s consolidated financial statements. Popular, Inc., BPPR and PB are subject to Basel III capital requirements, including minimum and well capitalized regulatory capital ratios and compliance with the standardized approach for determining risk-weighted assets. The Basel III Capital Rules established a Common Equity Tier I (“CET1”) capital measure and related regulatory capital ratio CET1 to risk-weighted assets. The Basel III Capital Rules provide that a depository institution will be deemed to be well capitalized if it maintained a leverage ratio of at least 5 %, a CET1 ratio of at least 6.5 %, a Tier 1 risk-based capital ratio of at least 8 % and a total risk-based ratio of at least 10 %. Management has determined that at December 31, 2023 and 2022, the Corporation exceeded all capital adequacy requirements to which it is subject. The Corporation has been designated by the Federal Reserve Board as a Financial Holding Company (“FHC”) and is eligible to engage in certain financial activities permitted under the Gramm-Leach-Bliley Act of 1999. Pursuant to the adoption of the CECL accounting standard on January 1, 2020, the Corporation elected to use a five-year transition period option as permitted in the final interim regulatory capital rules effective March 31, 2020. The five-year transition period provision delays for two years the estimated impact of the adoption of the CECL accounting standard on regulatory capital, followed by a three-year transition period to phase out the aggregate amount of the capital benefit provided during the initial two-year delay. On August 26, 2020, federal banking regulators issued a final rule to modify the Basel III regulatory capital rules applicable to banking organizations to allow those organizations participating in the Paycheck Protection Program (“PPP”) established under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) to neutralize the regulatory capital effects of participating in the program. Specifically, the agencies have clarified that banking organizations, including the Corporation and its Bank subsidiaries, are permitted to assign a zero percent risk weight to PPP loans for purposes of determining risk-weighted assets and risk-based capital ratios. Additionally, in order to facilitate use of the Paycheck Protection Program Liquidity Facility (the “PPPL Facility”), which provides Federal Reserve Bank loans to eligible financial institutions such as the Corporation’s Bank subsidiaries to fund PPP loans, the agencies further clarified that, for purposes of determining leverage ratios, a banking organization is permitted to exclude from total average assets PPP loans that have been pledged as collateral for a PPPL Facility. As of December 31, 2023, the Corporation has $ 9 million in PPP loans and no loans were pledged as collateral for PPPL Facilities. At December 31, 2023 and 2022, BPPR and PB were well-capitalized under the regulatory framework for prompt corrective action. The following tables present the Corporation’s risk-based capital and leverage ratios at December 31, 2023 and 2022 under the Basel III regulatory guidance. Actual Capital adequacy minimum requirement (including conservation capital buffer) [1] (Dollars in thousands) Amount Ratio Amount Ratio 2023 Total Capital (to Risk-Weighted Assets): Corporation $ 6,733,964 18.13 % $ 3,900,365 10.50 % BPPR 4,811,675 18.15 2,782,976 10.50 PB 1,491,549 14.38 1,088,754 10.50 Common Equity Tier I Capital (to Risk-Weighted Assets): Corporation $ 6,053,315 16.30 % $ 2,600,243 7.00 % BPPR 4,478,033 16.90 1,855,317 7.00 PB 1,426,037 13.75 725,836 7.00 Tier I Capital (to Risk-Weighted Assets): Corporation $ 6,075,458 16.36 % $ 3,157,438 8.50 % BPPR 4,478,033 16.90 2,252,885 8.50 PB 1,426,037 13.75 881,372 8.50 Tier I Capital (to Average Assets): Corporation $ 6,075,458 8.51 % $ 2,854,127 4.00 % BPPR 4,478,033 7.64 2,343,174 4.00 PB 1,426,037 11.23 507,942 4.00 [1] The conservation capital buffer included for these ratios is 2.5 %, except for the Tier I to Average Asset ratio for which the buffer is not applicable and therefore the capital adequacy minimum of 4 % is presented. Actual Capital adequacy minimum requirement (including conservation capital buffer) (Dollars in thousands) Amount Ratio Amount Ratio 2022 Total Capital (to Risk-Weighted Assets): Corporation $ 6,285,648 18.26 % $ 3,613,668 10.500 % BPPR 4,541,915 18.34 2,599,872 10.500 PB 1,463,511 15.59 985,510 10.500 Common Equity Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,639,686 16.39 % $ 2,409,112 7.000 % BPPR 4,230,820 17.09 1,733,248 7.000 PB 1,395,272 14.87 657,007 7.000 Tier I Capital (to Risk-Weighted Assets): Corporation $ 5,661,829 16.45 % $ 2,925,351 8.500 % BPPR 4,230,820 17.09 2,104,658 8.500 PB 1,395,272 14.87 797,794 8.500 Tier I Capital (to Average Assets): Corporation $ 5,661,829 8.06 % $ 2,811,504 4 % BPPR 4,230,820 7.10 2,383,478 4 PB 1,395,272 13.08 426,832 4 The following table presents the minimum amounts and ratios for the Corporation’s banks to be categorized as well-capitalized. 2023 2022 (Dollars in thousands) Amount Ratio Amount Ratio Total Capital (to Risk-Weighted Assets): BPPR $ 2,650,453 10 % $ 2,476,068 10 % PB 1,036,909 10 938,581 10 Common Equity Tier I Capital (to Risk-Weighted Assets): BPPR $ 1,722,795 6.5 % $ 1,609,444 6.5 % PB 673,991 6.5 610,078 6.5 Tier I Capital (to Risk-Weighted Assets): BPPR $ 2,120,363 8 % $ 1,980,855 8 % PB 829,527 8 750,865 8 Tier I Capital (to Average Assets): BPPR $ 2,928,968 5 % $ 2,979,348 5 % PB 634,927 5 533,540 5

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1D Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 1F -Publisher FASB -URI https://asc.fasb.org//1943274/2147480696/942-505-50-1F + Details
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