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MONEY MARKET INVESTMENTS | 12 Months Ended
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Dec. 31, 2024
MONEY MARKET INVESTMENTS [Abstract] |
MONEY MARKET INVESTMENTS | 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 were as follows as of the indicated dates: As of December 31, 2024 2023 (Dollars in thousands) Time deposits with other financial institutions (1) $ 500 $ 300 Overnight deposits with other financial institutions (2) 200 439 Other short-term investments (3) 500 500 $ 1,200 $ 1,239 (1) Consists of time deposits segregated for compliance with the Puerto Rico International Banking Law. Interest rate of 1.05 % as of each of December 31, 2024 and 2023, respectively. (2) Weighted-average interest rate of 4.33 % and 5.33 % as of December 31, 2024 and 2023, respectively. (3) Weighted-average interest rate of 1.39 % and 2.47 % as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the Corporation had $ 0.1 million (2023 - $ 0.4 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
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