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MONEY MARKET INVESTMENTS | 12 Months Ended
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Dec. 31, 2022
MONEY MARKET INVESTMENTS [Abstract] |
Money Market Investments [Text Block] | NOTE 2 – MONEY MARKET . INVESTMENTS Money market investments are composed of time deposits, overnight deposits with other financial institutions, and other short-term investments with original maturities of three months or less. Money market investments as of December 31, 2022 and 2021 were as follows: 2022 2021 (Dollars in thousands) Time deposits with other financial institutions (1) (2) $ 300 $ 300 Overnight deposits with other financial institutions (3) 541 1,200 Other short-term investments (4) 1,184 1,182 $ 2,025 $ 2,682 (1) Consists of time deposits segregated for compliance with the Puerto Rico International Banking Law. (2) Interest rate of 0.40 % and 0.05 % as of December 31, 2022 and 2021, respectively. (3) Weighted-average interest rate of 4.33 % and 0.07 % as of December 31, 2022 and 2021, respectively. (4) Weighted-average interest rate of 0.14 % and 0.15 % as of December 31, 2022 and 2021, respectively. As of December 31, 2022, the Corporation had $ 0.5 million (2021 - $ 1.2 million) in money market investments pledged as collateral as part of margin calls associated to derivative contracts.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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