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v3.19.1

Hedge accounting (Tables) | 12 Months Ended
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Dec. 31, 2018
Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item | The tables below present, for each strategy, the nominal value and the fair value adjustments of hedge instruments and the book value of the hedged item:
Strategies |  | 12/31/2018 |  |  | 12/31/2017 |
| Hedge instruments |  |  | Hedged item |  |  | Hedge instruments |  |  | Hedged item |
| Nominal Value |  |  | Fair value adjustments |  |  | Book Value |  |  | Nominal Value |  |  | Fair value adjustments |  |  | Book Value |
Hedge of deposits and repurchase agreements |  |  | 29,727 |  |  |  | (21 | ) |  |  | 29,727 |  |  |  | 62,667 |  |  |  | (32 | ) |  |  | 62,667 |
Hedge of highly probable forecast transactions |  |  | 71 |  |  |  | 6 |  |  |  | 71 |  |  |  | 232 |  |  |  | 9 |  |  |  | 219 |
Hedge of net investment in foreign operations (*) |  |  | 12,550 |  |  |  | 2,230 |  |  |  | 14,820 |  |  |  | 10,561 |  |  |  | 1,283 |  |  |  | 13,074 |
Hedge of loan operations (Fair value) |  |  | 7,066 |  |  |  | (54 | ) |  |  | 7,066 |  |  |  | 5,977 |  |  |  | 52 |  |  |  | 5,977 |
Hedge of loan operations (Cash flow) |  |  | 268 |  |  |  | 7 |  |  |  | 274 |  |  |  | 1,124 |  |  |  | 14 |  |  |  | 1,124 |
Hedge of funding (Fair value) |  |  | 9,124 |  |  |  | 43 |  |  |  | 9,124 |  |  |  | 12,157 |  |  |  | (114 | ) |  |  | 12,157 |
Hedge of funding (Cash flow) |  |  | 3,105 |  |  |  | 82 |  |  |  | 3,200 |  |  |  | 6,444 |  |  |  | (16 | ) |  |  | 6,444 |
Hedge of syndicated loan (Fair value) |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 794 |  |  |  |  |  |  |  | 794 |
Hedge of assets transactions |  |  | 8,003 |  |  |  | 136 |  |  |  | 7,866 |  |  |  | 23,919 |  |  |  | 2 |  |  |  | 23,490 |
Hedge of Asset-backed securities under repurchase agreements |  |  | 38,013 |  |  |  | 8 |  |  |  | 36,668 |  |  |  | 31,855 |  |  |  | 11 |  |  |  | 31,099 |
Hedge of assets denominated in UF |  |  | 13,221 |  |  |  | 23 |  |  |  | 13,247 |  |  |  | 15,227 |  |  |  | (28 | ) |  |  | 15,227 |
Hedge of fair value through other comprehensive income |  |  | 5,401 |  |  |  | (82 | ) |  |  | 5,391 |  |  |  | 482 |  |  |  | 34 |  |  |  | 482 |
Total |  |  | 0 |  |  |  | 2,378 |  |  |  | 0 |  |  |  |  |  |  |  | 1,215 |  |  |  |  |
(*) | Hedge instruments include the overhedge rate of 44.65% regarding taxes.
Breakdown by Maturity of Hedging Strategies | The table below shows the breakdown by maturity of the hedging strategies:
Strategies |  | 12/31/2018 |
| 0-1 year |  |  | 1-2 years |  |  | 2-3 years |  |  | 3-4 years |  |  | 4-5 years |  |  | 5-10 years |  |  | over 10 years |  |  | Total |
Hedge of deposits and repurchase agreements |  |  | 11,925 |  |  |  | 4,729 |  |  |  | 3,519 |  |  |  | 0 |  |  |  | 5,737 |  |  |  | 3,817 |  |  |  | 0 |  |  |  | 29,727 |
Hedge of highly probable forecast transactions |  |  | 71 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 71 |
Hedge of net investment in foreign operations (*) |  |  | 12,550 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 12,550 |
Hedge of loan operations (Fair value) |  |  | 293 |  |  |  | 1,416 |  |  |  | 1,793 |  |  |  | 1,379 |  |  |  | 375 |  |  |  | 822 |  |  |  | 988 |  |  |  | 7,066 |
Hedge of loan operations (Cash flow) |  |  | 0 |  |  |  | 28 |  |  |  | 162 |  |  |  | 78 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 268 |
Hedge of funding (Fair value) |  |  | 1,590 |  |  |  | 297 |  |  |  | 154 |  |  |  | 391 |  |  |  | 377 |  |  |  | 3,972 |  |  |  | 2,343 |  |  |  | 9,124 |
Hedge of funding (Cash flow) |  |  | 2,874 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 231 |  |  |  | 0 |  |  |  | 3,105 |
Hedge of assets transactions |  |  | 6,346 |  |  |  | 0 |  |  |  | 1,657 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 8,003 |
Hedge of Asset-backed securities under repurchase agreements |  |  | 26,943 |  |  |  | 5,838 |  |  |  | 1,517 |  |  |  | 0 |  |  |  | 3,715 |  |  |  | 0 |  |  |  | 0 |  |  |  | 38,013 |
Hedge of assets denominated in UF |  |  | 12,241 |  |  |  | 924 |  |  |  | 56 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 13,221 |
Hedge of fair value through other comprehensive income |  |  | 4,223 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,178 |  |  |  | 0 |  |  |  | 5,401 |
Total |  |  | 79,056 |  |  |  | 13,232 |  |  |  | 8,858 |  |  |  | 1,848 |  |  |  | 10,204 |  |  |  | 10,020 |  |  |  | 3,331 |  |  |  | 126,549 |
Strategies |  | 12/31/2017 |
| 0-1 year |  |  | 1-2 years |  |  | 2-3 years |  |  | 3-4 years |  |  | 4-5 years |  |  | 5-10 years |  |  | over de 10 years |  |  | Total |
Hedge of deposits and repurchase agreements |  |  | 31,471 |  |  |  | 11,205 |  |  |  | 6,210 |  |  |  | 12,125 |  |  |  | — |  |  |  | 1,656 |  |  |  | — |  |  |  | 62,667 |
Hedge of highly probable forecast transactions |  |  | 162 |  |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 232 |
Hedge of net investment in foreign operations (*) |  |  | 10,561 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10,561 |
Hedge of loan operations (Fair value) |  |  | 268 |  |  |  | 143 |  |  |  | 628 |  |  |  | 1,502 |  |  |  | 1,335 |  |  |  | 642 |  |  |  | 1,459 |  |  |  | 5,977 |
Hedge of loan operations (Cash flow) |  |  | — |  |  |  | — |  |  |  | 27 |  |  |  | 157 |  |  |  | 75 |  |  |  | 865 |  |  |  | — |  |  |  | 1,124 |
Hedge of funding (Fair value) |  |  | 2,399 |  |  |  | 3,669 |  |  |  | 799 |  |  |  | 218 |  |  |  | 348 |  |  |  | 2,099 |  |  |  | 2,625 |  |  |  | 12,157 |
Hedge of funding (Cash flow) |  |  | 1,646 |  |  |  | 749 |  |  |  | 1,026 |  |  |  | 884 |  |  |  | 525 |  |  |  | 1,614 |  |  |  | — |  |  |  | 6,444 |
Hedge of syndicated loan (Fair value) |  |  | 794 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 794 |
Hedge of assets transactions |  |  | 16,726 |  |  |  | 5,940 |  |  |  | — |  |  |  | 1,253 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23,919 |
Hedge of Asset-backed securities under repurchase agreements |  |  | 251 |  |  |  | 25,209 |  |  |  | 3,956 |  |  |  | 1,349 |  |  |  | — |  |  |  | 1,090 |  |  |  | — |  |  |  | 31,855 |
Hedge of assets denominated in UF |  |  | 12,352 |  |  |  | 2,822 |  |  |  | — |  |  |  | 53 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,227 |
Hedge of fair value through other comprehensive income |  |  | — |  |  |  | — |  |  |  | 223 |  |  |  | — |  |  |  | — |  |  |  | 259 |  |  |  | — |  |  |  | 482 |
Total |  |  | 76,630 |  |  |  | 49,807 |  |  |  | 12,869 |  |  |  | 17,541 |  |  |  | 2,283 |  |  |  | 8,225 |  |  |  | 4,084 |  |  |  | 171,439 |
(*) | Classified as current, since instruments are frequently renewed.
Fair value hedge [Member] |
Summary of Hedge Accounting |
Hedge Instruments |  | 12/31/2018 |
| Nominal Value |  |  | Book value (*) |  |  | Variation in the amount used to calculate hedge ineffectiveness |  |  | Hedge ineffectiveness recognized in income |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate Swap |  |  | 21,591 |  |  |  | 86 |  |  |  | 1,078 |  |  |  | (93 | ) |  |  | 10 |
Total |  |  | 21,591 |  |  |  | 86 |  |  |  | 1,078 |  |  |  | (93 | ) |  |  | 10 |
Hedge Instruments |  | 12/31/2017 |
| Nominal Value |  |  | Book value (*) |  |  | Variation in the amount used to calculate hedge ineffectiveness |  |  | Hedge ineffectiveness recognized in income |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate Swap |  |  | 19,410 |  |  |  | 86 |  |  |  | 114 |  |  |  | (27 | ) |  |  | (2 | )
Total |  |  | 19,410 |  |  |  | 86 |  |  |  | 114 |  |  |  | (27 | ) |  |  | (2 | )
(*) | Amounts recorded in the Derivatives.
Schedule of the Effect of Hedge Accounting on the Financial Position and Performance | The effects of hedge accounting on the financial position and performance of ITAÚ UNIBANCO HOLDING are presented below:
Strategies |  | 12/31/2018 |
| Hedged Item |  |  | Hedge Instruments |
| Book Value (*) |  |  | Fair value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |  |  | Nominal Value |  |  | Variation in value recognized in income |
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of loan operations |  |  | 7,066 |  |  |  | 0 |  |  |  | 7,119 |  |  |  | 0 |  |  |  | 53 |  |  |  | 7,066 |  |  |  | (54 | )
Hedge of funding |  |  | 0 |  |  |  | 9,124 |  |  |  | 0 |  |  |  | 9,081 |  |  |  | (43 | ) |  |  | 9,124 |  |  |  | 43 |
Hedge of fair value through other comprehensive income |  |  | 5,391 |  |  |  | 0 |  |  |  | 5,483 |  |  |  | 0 |  |  |  | 93 |  |  |  | 5,401 |  |  |  | (82 | )
Total |  |  | 12,457 |  |  |  | 9,124 |  |  |  | 12,602 |  |  |  | 9,081 |  |  |  | 103 |  |  |  | 21,591 |  |  |  | (93 | )
Strategies |  | 12/31/2017 |
| Hedged Item |  |  | Hedge Instruments |
| Book Value (*) |  |  | Fair value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |  |  | Nominal Value |  |  | Variation in value recognized in income |
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of loan operations |  |  | 5,977 |  |  |  | — |  |  |  | 5,978 |  |  |  | — |  |  |  | (50 | ) |  |  | 5,977 |  |  |  | 52 |
Hedge of funding |  |  | — |  |  |  | 12,157 |  |  |  | — |  |  |  | 9,562 |  |  |  | 108 |  |  |  | 12,157 |  |  |  | (113 | )
Hedge of syndicated loan |  |  | — |  |  |  | 794 |  |  |  | — |  |  |  | 779 |  |  |  | — |  |  |  | 794 |  |  |  | — |
Hedge of fair value through other comprehensive income |  |  | 482 |  |  |  | — |  |  |  | 450 |  |  |  | — |  |  |  | (33 | ) |  |  | 482 |  |  |  | 34 |
Total |  |  | 6,459 |  |  |  | 12,951 |  |  |  | 6,428 |  |  |  | 10,341 |  |  |  | 25 |  |  |  | 19,410 |  |  |  | (27 | )
(*) | Amounts recorded in the heading Deposits, Securities, Funds from Interbank Markets and Loan and Lease Operation.
Hedges of net investment in foreign operations [member] |
Summary of Hedge Accounting |
Hedge instruments |  | 12/31/2018 |
| Nominal Value |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from foreign currency convertion into income |
| Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDI futures |  |  | 27,990 |  |  |  | 0 |  |  |  | 113 |  |  |  | (11,394 | ) |  |  | (11,353 | ) |  |  | (41 | ) |  |  | 0 |
Forward |  |  | (1,470 | ) |  |  | 1,059 |  |  |  | 0 |  |  |  | 764 |  |  |  | 726 |  |  |  | 38 |  |  |  | 0 |
NDF |  |  | (13,167 | ) |  |  | 255 |  |  |  | 0 |  |  |  | 3,198 |  |  |  | 3,189 |  |  |  | 9 |  |  |  | 0 |
Financial Assets |  |  | (803 | ) |  |  | 803 |  |  |  | 0 |  |  |  | 136 |  |  |  | 138 |  |  |  | (2 | ) |  |  | 0 |
Total |  |  | 12,550 |  |  |  | 2,117 |  |  |  | 113 |  |  |  | (7,296 | ) |  |  | (7,300 | ) |  |  | 4 |  |  |  | 0 |
Hedge instruments |  | 12/31/2017 |
| Nominal Value |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from foreign currency convertion into income |
| Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDI futures |  |  | 23,641 |  |  |  | 49 |  |  |  | — |  |  |  | (7,646 | ) |  |  | (7,605 | ) |  |  | (41 | ) |  |  | — |
Forward |  |  | (1,065 | ) |  |  | 1,050 |  |  |  | — |  |  |  | 661 |  |  |  | 623 |  |  |  | 38 |  |  |  | — |
NDF |  |  | (11,474 | ) |  |  | — |  |  |  | 357 |  |  |  | 1,525 |  |  |  | 1,516 |  |  |  | 9 |  |  |  | — |
Financial Assets |  |  | (541 | ) |  |  | 541 |  |  |  | — |  |  |  | (43 | ) |  |  | (41 | ) |  |  | (2 | ) |  |  | — |
Total |  |  | 10,561 |  |  |  | 1,640 |  |  |  | 357 |  |  |  | (5,503 | ) |  |  | (5,507 | ) |  |  | 4 |  |  |  | — |
(*) | Amounts recorded in the Derivatives.
Cash flow hedges [member] |
Summary of Hedge Accounting |
Hedge Instruments |  | 12/31/2018 |
| Nominal Value |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from Cash flow hedge reserve to income |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate futures |  |  | 75,743 |  |  |  | 256 |  |  |  | 21 |  |  |  | (1,305 | ) |  |  | (1,193 | ) |  |  | (112 | ) |  |  | 0 |
Interest rate Swap |  |  | 16,594 |  |  |  | 3,023 |  |  |  | 13,519 |  |  |  | 112 |  |  |  | 110 |  |  |  | 2 |  |  |  | 0 |
Foreign currency risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDI futures |  |  | 6 |  |  |  | 5 |  |  |  | 0 |  |  |  | 1 |  |  |  | 1 |  |  |  | 0 |  |  |  |  |
Option |  |  | 65 |  |  |  | 9 |  |  |  | 0 |  |  |  | 5 |  |  |  | 5 |  |  |  | 0 |  |  |  | 0 |
Total |  |  | 92,408 |  |  |  | 3,293 |  |  |  | 13,540 |  |  |  | (1,187 | ) |  |  | (1,077 | ) |  |  | (110 | ) |  |  | 0 |
Hedge Instruments |  | 12/31/2017 |
| Nominal Value |  |  | Book Value (*) |  |  | Variations in fair value used to calculate hedge ineffectiveness |  |  | Variation in value recognized in Other comprehensive income |  |  | Hedge ineffectiveness recognized in income |  |  | Amount reclassified from Cash flow hedge reserve to income |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate futures |  |  | 118,441 |  |  |  | 13 |  |  |  | (32 | ) |  |  | (2,278 | ) |  |  | (2,126 | ) |  |  | (152 | ) |  |  | — |
Interest rate Swap |  |  | 22,795 |  |  |  | 14 |  |  |  | (44 | ) |  |  | (38 | ) |  |  | (31 | ) |  |  | (7 | ) |  |  | — |
Foreign currency risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
DDI futures |  |  | 78 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 1 |  |  |  | — |  |  |  | — |
Option |  |  | 154 |  |  |  | 9 |  |  |  | — |  |  |  | (6 | ) |  |  | (6 | ) |  |  | — |  |  |  | — |
Total |  |  | 141,468 |  |  |  | 36 |  |  |  | (76 | ) |  |  | (2,321 | ) |  |  | (2,162 | ) |  |  | (159 | ) |  |  | — |
(*) | Amounts recorded in the Derivatives.
Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item |
a) | Hedge Cash flow
Strategies |  | Heading |  | 12/31/2018 |
| Hedged item |  |  | Hedge instrument |
| Book Value |  |  | Variation in value recognized in Other comprehensive income |  |  | Cash flow hedge reserve |  |  | Nominal Value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of deposits and repurchase agreements |  | Securities purchased under agreements to resell |  |  | 0 |  |  |  | 29,727 |  |  |  | (1,682 | ) |  |  | (2,946 | ) |  |  | 29,727 |  |  |  | (1,800 | )
Hedge of assets transactions |  | Loan operations and lease operations and Securities |  |  | 7,866 |  |  |  | 0 |  |  |  | 136 |  |  |  | 136 |  |  |  | 8,003 |  |  |  | 136 |
Hedge of Asset-backed securities under repurchase agreements |  | Securities purchased under agreements to resell |  |  | 36,668 |  |  |  | 0 |  |  |  | 353 |  |  |  | 353 |  |  |  | 38,013 |  |  |  | 359 |
Hedge of loan operations |  | Loan operations and lease operations |  |  | 274 |  |  |  | 0 |  |  |  | 6 |  |  |  | 6 |  |  |  | 268 |  |  |  | 7 |
Hedge of funding |  | Deposits |  |  | 0 |  |  |  | 3,200 |  |  |  | 78 |  |  |  | 86 |  |  |  | 3,105 |  |  |  | 82 |
Hedge of assets denominated in UF |  | Securities |  |  | 13,247 |  |  |  | 0 |  |  |  | 26 |  |  |  | 26 |  |  |  | 13,221 |  |  |  | 23 |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of highly probable forecast transactions |  |  |  |  | 71 |  |  |  | 0 |  |  |  | 6 |  |  |  | 6 |  |  |  | 71 |  |  |  | 6 |
Total |  |  |  |  | 58,126 |  |  |  | 32,927 |  |  |  | (1,077 | ) |  |  | (2,333 | ) |  |  | 92,408 |  |  |  | (1,187 | )
Strategies |  | Heading |  | 12/31/2017 |
| Hedged item |  |  | Hedge instrument |
| Book Value |  |  | Variation in value recognized in Other comprehensive income |  |  | Cash flow hedge reserve |  |  | Nominal Value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |
| Assets |  |  | Liabilities |
Interest rate risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of deposits and repurchase agreements |  | Securities purchased under agreements to resell |  |  | — |  |  |  | 62,667 |  |  |  | (3,227 | ) |  |  | (3,227 | ) |  |  | 62,667 |  |  |  | (3,377 | )
Hedge of assets transactions |  | Loan operations and lease operations and Securities |  |  | 23,490 |  |  |  | — |  |  |  | 429 |  |  |  | 429 |  |  |  | 23,919 |  |  |  | 429 |
Hedge of Asset-backed securities under repurchase agreements |  | Securities purchased under agreements to resell |  |  | 31,099 |  |  |  | — |  |  |  | 672 |  |  |  | 672 |  |  |  | 31,855 |  |  |  | 670 |
Hedge of loan operations |  | Loan operations and lease operations |  |  | 1,124 |  |  |  | — |  |  |  | 14 |  |  |  | 14 |  |  |  | 1,124 |  |  |  | 13 |
Hedge of funding |  | Deposits |  |  | — |  |  |  | 6,444 |  |  |  | (16 | ) |  |  | (16 | ) |  |  | 6,444 |  |  |  | (17 | )
Hedge of assets denominated in UF |  | Securities |  |  | 15,227 |  |  |  | — |  |  |  | (29 | ) |  |  | (29 | ) |  |  | 15,227 |  |  |  | (34 | )
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of highly probable forecast transactions |  |  |  |  | 219 |  |  |  | — |  |  |  | (5 | ) |  |  | (5 | ) |  |  | 232 |  |  |  | (5 | )
Total |  |  |  |  | 71,159 |  |  |  | 69,111 |  |  |  | (2,162 | ) |  |  | (2,162 | ) |  |  | 141,468 |  |  |  | (2,321 | )
investment abroad designated as hedged item [Member] |
Summary of Hedge Accounting | To evaluate the effectiveness and to measure the ineffectiveness of such strategies, ITAÚ UNIBANCO HOLDING uses the Dollar Offset Method. The Dollar Offset Method is based on a comparison of the change in fair value (cash flow) of the hedge instrument, attributable to changes in exchange rate and gain (loss) arising from the variation in exchange rates, on the amount of investment abroad designated as a hedged item.
Strategies |  | 12/31/2018 |
| Hedged item |  |  | Hedge instrument |
| Book Value (2) |  |  | Variation in value recognized in Other comprehensive income |  |  | Foreign currency convertion |  |  | Nominal Value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |
| Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of net investment in foreign operations (1) |  |  | 0 |  |  |  | 14,820 |  |  |  | (7,300 | ) |  |  | (7,300 | ) |  |  | 12,550 |  |  |  | (7,296 | )
Total |  |  | 0 |  |  |  | 14,820 |  |  |  | (7,300 | ) |  |  | (7,300 | ) |  |  | 12,550 |  |  |  | (7,296 | )
Strategies |  | 12/31/2017 |
| Hedged item |  |  | Hedge instrument |
| Book Value (2) |  |  | Variation in value recognized in Other comprehensive income |  |  | Foreign currency convertion |  |  | Nominal Value |  |  | Variation in the amounts used to calculate hedge ineffectiveness |
| Assets |  |  | Liabilities |
Foreign exchange risk |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hedge of net investment in foreign operations (1) |  |  | — |  |  |  | 13,074 |  |  |  | (5,507 | ) |  |  | (5,507 | ) |  |  | 10,561 |  |  |  | (5,503 | )
Total |  |  | — |  |  |  | 13,074 |  |  |  | (5,507 | ) |  |  | (5,507 | ) |  |  | 10,561 |  |  |  | (5,503 | )
(1) | Hedge instruments include the overhedge rate of 44.65% regarding taxes.
(2) | Amounts recorded in the Hedge of net investment in foreign operation.

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