The Corporation uses federal funds purchased, repurchase agreements, advances from FHLB and notes payable as additional funding sources. The borrowings of the Corporation consist primarily of federal funds pur- chased and securities sold under agreements to repurchase (repurchase agreements) which at December 31, 2001 amounted to $2,997 million or 88% of total borrowings. Repurchase agreements had a total weighted average cost of 4.90% during the year ended December 31, 2001. For more information on borrowings please refer to Notes 19 through 21 of the Corporation’s financial statements. The composition and estimated weighted average interest rates of interest bearing liabilities at December 31, 2001, were as follows: The following table presents a detail of the maturities of contractual debt obligations, operational leases and commitments to extend credit: The Corporation has obligations and commitments to make future pay- ments under contracts, such as debt and lease agreements, and under other commitments to extend credit. Commitments to extend credit are agree- ments to lend to a customer as long as there is no violation of any condi- tion established in the contract. Since certain commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. In the case of credit cards and personal lines of credit, the Corporation can at any time and without cause, cancel the unused credit facility. Contractual Obligations and Commitments >. 0 40 First BanCorp.> 2001 Amount Weighted (In thousands) Average rate Interest bearing deposits $ 3,858,703 3.82% Borrowed funds 3,425,236 4.23% $ 7,283,939 4.01% Payments Due/Commitments Expiration by Period (In thousands) Total Less than 1 year 1-3 years 4-5 years After 5 years Contractual Obligations: Federal funds purchased and securities sold under  agreements to repurchase $2,986,174 $1,011,214 $156,500 $550,000 $1,268,460 Advances from FHLB 343,700 20,700 50,000 273,000 Subordinated Notes  84,362 84,362 Operational Leases 19,069 4,414 7,999 2,804 3,852 Total Contractual Cash Obligations $3,433,305 $1,036,328 $298,861 $552,804 $1,545,312 Other Commitments: Lines of Credit $304,600 $304,600 Standby Letters of Credit 24,172 24,172 Other Commercial Commitments 436,251 436,251 Total Commercial Commitments $765,023 $765,023