Note 19 - Federal Funds Purchased and Securities Sold Under Agreements to Repurchase >. Federal funds purchased and securities sold under agreements to repur- chase (repurchase agreements) consist of the following: Federal funds purchased and repurchase agreements mature as follows: The following securities were sold under agreements to repurchase: December 31, 2001 2000 (In thousands) Federal funds purchased, interest rate 1.80% $ 10,000 Repurchase agreements, interest ranging from 1.25% to 6.09% (2000 - 4.97% to 6.63%) 2,976,174 $1,851,286 Accrued interest payable 11,000 5,150 Total $2,997,174 $1,856,436 December 31, 2001 2000 (In thousands) One to thirty days  $ 723,010 $1,368,944 Over thirty to ninety days  14,062 Over ninety days to one year  274,142 208,200 Over one year 1,974,960 274,142 Total $2,986,174 $1,851,286 December 31, 2001 Amortized Approximate Weighted  cost of market value average underlying Balance of of underlying interest Underlying securities securities borrowing  securities rate (In thousands) U.S.Treasury Securities and obligations  of other U.S. Government Agencies $ 506,685 $ 392,081 $ 515,447 3.80% Mortgage backed securities 2,441,777 2,380,851 2,389,645 6.70% Corporate bonds  262,648 203,242 260,542 7.17% Total $3,211,110 $2,976,174 $3,165,634 Accrued interest receivable $ 15,715 December 31, 2000 Amortized Approximate Weighted  cost of market value average underlying Balance of of underlying interest Underlying securities securities borrowing  securities rate (In thousands) U.S.Treasury Securities and obligations  of other U.S. Government Agencies $ 406,106 $ 395,027 $ 400,253 6.53% Mortgage backed securities 1,497,102 1,456,259 1,485,816 6.35% Total $1,903,208 $1,851,286 $1,886,069 Accrued interest receivable $ 4,124 First BanCorp.> 2001 0 69