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Hedge accounting (Tables)

12 Months Ended

Dec. 31, 2019

Statement [Line Items]

Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item

The tables below presents, for each strategy, the notional amount and the fair value adjustments of hedge instruments and the book value of the hedged item:

		12/31/2019												12/31/2018
		Hedge instruments								Hedged item				Hedge instruments								Hedged item
Strategies		Notional amount				Fair value adjustments				Book Value				Notional amount				Fair value adjustments				Book Value
Hedge of deposits and repurchase agreements			24,543				(37	)			24,543				29,727				(21	)			29,727
Hedge of highly probable forecast transactions			294				(11	)			294				71				6				71
Hedge of net investment in foreign operations			16,947				4,988				14,396				12,550				2,230				14,820
Hedge of loan operations (Fair value)			7,386				(264	)			7,386				7,066				(54	)			7,066
Hedge of loan operations (Cash flow)			257				14				269				268				7				274
Hedge of funding (Fair value)			7,436				775				7,436				9,124				43				9,124
Hedge of funding (Cash flow)			4,590				(27	)			4,617				3,105				82				3,200
Hedge of assets transactions			5,656				91				5,564				8,003				136				7,866
Hedge of Asset-backed securities under repurchase agreements			32,130				20				30,896				38,013				8				36,668
Hedge of assets denominated in UF			12,582				5				12,588				13,221				23				13,247
Hedge of securities at fair value through other comprehensive income			4,609				(85	)			4,482				5,401				(82	)			5,391
Total							5,469												2,378

Breakdown by Maturity of Hedging Strategies

The table below shows the breakdown by maturity of the hedging strategies:

		12/31/2019
Strategies		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			5,533				4,409				1,627				8,464				—				4,510				—				24,543
Hedge of highly probable forecast transactions			294				—				—				—				—				—				—				294
Hedge of net investment in foreign operations (*)			16,947				—				—				—				—				—				—				16,947
Hedge of loan operations (Fair value)			381				2,490				1,248				993				623				1,111				540				7,386
Hedge of loan operations (Cash flow)			27				156				74				—				—				—				—				257
Hedge of funding (Fair value)			299				152				375				423				129				4,220				1,838				7,436
Hedge of funding (Cash flow)			2,562				—				—				1,646				161				221				—				4,590
Hedge of assets transactions			—				3,671				1,985				—				—				—				—				5,656
Hedge of Asset-backed securities under repurchase agreements			6,225				18,739				812				5,621				—				733				—				32,130
Hedge of assets denominated in UF			9,628				2,954				—				—				—				—				—				12,582
Hedge of securities at fair value through other comprehensive income			4,230				—				28				—				—				351				—				4,609
Total			46,126				32,571				6,149				17,147				913				11,146				2,378				116,430

		12/31/2018
Strategies		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				—				5,737				3,817				—				29,727
Hedge of highly probable forecast transactions			71				—				—				—				—				—				—				71
Hedge of net investment in foreign operations (*)			12,550				—				—				—				—				—				—				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)			—				28				162				78				—				—				—				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				—				—				—				—				231				—				3,105
Hedge of assets transactions			6,346				—				1,657				—				—				—				—				8,003
Hedge of Asset-backed securities under repurchase agreements			26,943				5,838				1,517				—				3,715				—				—				38,013
Hedge of assets denominated in UF			12,241				924				56				—				—				—				—				13,221
Hedge of securities at fair value through other comprehensive income			4,223				—				—				—				—				1,178				—				5,401
Total			79,056				13,232				8,858				1,848				10,204				10,020				3,331				126,549

(*) Classified as current, since instruments are frequently renewed.

Fair value hedge [Member]

Statement [Line Items]

Summary of Hedge Accounting

		12/31/2019
		Notional				Book value (1)								Variation in fair value used to calculate hedge				Hedge ineffectiveness
Hedge Instruments		amount				Assets				Liabilities				ineffectiveness				recognized in income
Interest rate risk
Swap (2)			19,431				766				4,636				426				15
Total			19,431				766				4,636				426				15

		12/31/2018
		Notional				Book value (1)								Variation in fair value used to calculate hedge				Hedge ineffectiveness
Hedge Instruments		amount				Assets				Liabilities				ineffectiveness				recognized in income
Interest rate risk
Swap			21,591				86				1,078				(93	)			10
Total			21,591				86				1,078				(93	)			10

(1) Amounts recorded under heading Derivatives financial instruments;

(2) In the period, the amount of R$ 408 is no longer qualified as hedge, with effect on result of R$ (15).

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:

		12/31/2019
		Hedged Item																				Hedge Instruments
																										Variation in fair
																		Variation in fair value								value used to
		Book Value (*)								Fair value								recognized in				Notional				calculate hedge
Strategies		Assets				Liabilities				Assets				Liabilities				income				amount				ineffectiveness
Interest rate risk
Hedge of loan operations			7,386				—				7,642				—				256				7,386				(264	)
Hedge of funding			—				7,436				—				8,195				(759	)			7,436				775
Hedge of securities at fair value through other comprehensive income			4,482				—				4,574				—				92				4,609				(85	)
Total			11,868				7,436				12,216				8,195				(411	)			19,431				426

		12/31/2018
		Hedged Item																				Hedge Instruments
																										Variation in fair
																		Variation in fair value								value used to
		Book Value (*)								Fair value								recognized in				Notional				calculate hedge
Strategies		Assets				Liabilities				Assets				Liabilities				income				amount				ineffectiveness
Interest rate risk
Hedge of loan operations			7,066				—				7,119				—				53				7,066				(54	)
Hedge of funding			—				9,124				—				9,167				(43	)			9,124				43
Hedge of securities at fair value through other comprehensive income			5,391				—				5,483				—				93				5,401				(82	)
Total			12,457				9,124				12,602				9,167				103				21,591				(93	)

(*) Amounts recorded under heading Deposits, Securities, Funds from Interbank Markets and Loan and Lease Operation.

Hedges of net investment in foreign operations [member]

Statement [Line Items]

Summary of Hedge Accounting

		12/31/2019
														Variations in fair				Variation in the value				Hedge				Amount reclassified
														value used to				recognized in Other				ineffectiveness				from foreign currency
		Notional				Book Value (*)								calculate hedge				comprehensive				recognized in				convertion reserve
Hedge instruments		amount				Assets				Liabilities				ineffectiveness				income				income				into income
Foreign exchange risk
DDI futures			32,966				228				—				(12,329	)			(12,292	)			(37	)			—
Forward			(2,990	)			2,977				—				408				381				27				—
NDF			(11,525	)			260				—				4,443				4,434				9				—
Financial Assets			(1,504	)			1,523				—				258				260				(2	)			—
Total			16,947				4,988				—				(7,220	)			(7,217	)			(3	)			—

		12/31/2018
														Variations in fair				Variation in the value				Hedge				Amount reclassified
														value used to				recognized in Other				ineffectiveness				from foreign currency
		Notional				Book Value (*)								calculate hedge				comprehensive				recognized in				convertion reserve
Hedge instruments		amount				Assets				Liabilities				ineffectiveness				income				income				into income
Foreign exchange risk
DDI futures			27,990				—				113				(11,394	)			(11,353	)			(41	)			—
Forward			(1,470	)			1,059				—				764				726				38				—
NDF			(13,167	)			255				—				3,198				3,189				9				—
Financial Assets			(803	)			803				—				136				138				(2	)			—
Total			12,550				2,117				113				(7,296	)			(7,300	)			4				—

(*) Amounts recorded under heading Derivatives Financial Instruments.

Cash flow hedges [member]

Statement [Line Items]

Summary of Hedge Accounting

		12/31/2019
		Notional				Book Value (*)								Variations in fair value used to calculate hedge				Variation in value recognized in Other comprehensive				Hedge ineffectiveness recognized in				Amount reclassified from Cash flow hedge
Hedge Instruments		amount				Assets				Liabilities				ineffectiveness				income				income				reserve to income
Interest rate risk
Futures			62,329				—				14				(2,200	)			(2,197	)			(3	)			—
Swap			17,429				4,617				12,858				(8	)			(9	)			1				—
Foreign exchange risk
Futures			294				—				156				(11	)			(11	)			—				—
Total			80,052				4,617				13,028				(2,219	)			(2,217	)			(2	)			—

		12/31/2018
		Notional				Book Value (*)								Variations in fair value used to calculate hedge				Variation in value recognized in Other comprehensive				Hedge ineffectiveness recognized in				Amount reclassified from Cash flow hedge
Hedge Instruments		amount				Assets				Liabilities				ineffectiveness				income				income				reserve to income
Interest rate risk
Futures			75,743				256				21				(1,305	)			(1,193	)			(112	)			—
Swap			16,594				3,023				13,519				112				110				2				—
Foreign exchange risk
Futures			6				5				—				1				1				—				—
Option			65				9				—				5				5				—				—
Total			92,408				3,293				13,540				(1,187	)			(1,077	)			(110	)			—

(*) Amounts recorded under heading Derivatives.

Schedule of Each Strategy of Nominal Value and Fair Value Adjustments of Hedge Instruments and Book Value of Hedged Item

				12/31/2019
				Hedged item																Hedge instrument
				Book Value								Variation in value recognized in Other				Cash flow hedge				Nominal				Variation in fair value used to calculate hedge
Strategies		Heading		Assets				Liabilities				comprehensive income				reserve				Value				ineffectiveness
Interest rate risk
Hedge of deposits and repurchase agreements		Securities purchased under agreements to resell			—				24,543				(2,808	)			(3,310	)			24,543				(2,814	)
Hedge of assets transactions		Loans and lease operations and Securities			5,564				—				91				91				5,656				91
Hedge of Asset-backed securities under repurchase agreements		Securities purchased under agreements to resell			30,896				—				520				520				32,130				523
Hedge of loan operations		Loans and lease operations			269				—				12				12				257				14
Hedge of funding		Deposits			—				4,617				(27	)			(22	)			4,590				(27	)
Hedge of assets denominated in UF		Securities			12,588				—				6				6				12,582				5
Foreign exchange risk
Hedge of highly probable forecast transactions					294				—				(11	)			179				294				(11	)
Total					49,611				29,160				(2,217	)			(2,524	)			80,052				(2,219	)

				12/31/2018
				Hedged item																Hedge instrument
				Book Value								Variation in value recognized in Other				Cash flow hedge				Nominal				Variation in fair value used to calculate hedge
Strategies		Heading		Assets				Liabilities				comprehensive income				reserve				Value				ineffectiveness
Interest rate risk
Hedge of deposits and repurchase agreements		Securities purchased under agreements to resell			—				29,727				(1,682	)			(2,946	)			29,727				(1,800	)
Hedge of assets transactions		Loans and lease operations and Securities			7,866				—				136				136				8,003				136
Hedge of Asset-backed securities under repurchase agreements		Securities purchased under agreements to resell			36,668				—				353				353				38,013				359
Hedge of loan operations		Loans and lease operations			274				—				6				6				268				7
Hedge of funding		Deposits			—				3,200				78				86				3,105				82
Hedge of assets denominated in UF		Securities			13,247				—				26				26				13,221				23
Foreign exchange risk
Hedge of highly probable forecast transactions					71				—				6				6				71				6
Total					58,126				32,927				(1,077	)			(2,333	)			92,408				(1,187	)

investment abroad designated as hedged item [Member]

Statement [Line Items]

Summary of Hedge Accounting

Instead, ITAÚ UNIBANCO HOLDING uses the Dollar Offset Method, which is based on a comparison of the change in fair value (cash flow) of the hedging instrument, attributable to changes in the exchange rate and the gain (loss) arising from variations in exchange rates on the amount of investment abroad designated as the object of the hedge.

		12/31/2019
		Hedged item																Hedge instrument
		Book Value (2)								Variation in value recognized in Other				Foreign currency				Notional				Variation in fair value used to calculate hedge
Strategies		Assets				Liabilities				comprehensive income				convertion reserve				amount				ineffectiveness
Foreign exchange risk
Hedge of net investment in foreign operations (1)			—				14,396				(7,217	)			(7,217	)			16,947				(7,220	)
Total			—				14,396				(7,217	)			(7,217	)			16,947				(7,220	)

		12/31/2018
		Hedged item																Hedge instrument
		Book Value (2)								Variation in value recognized in Other				Foreign currency				Notional				Variation in fair value used to calculate hedge
Strategies		Assets				Liabilities				comprehensive income				convertion reserve				amount				ineffectiveness
Foreign exchange risk
Hedge of net investment in foreign operations (1)			—				14,820				(7,300	)			(7,300	)			12,550				(7,296	)
Total			—				14,820				(7,300	)			(7,300	)			12,550				(7,296	)

(1) Hedge instruments consider the gross tax position;

(2) Amounts recorded under heading Derivatives - Hedge of investments in foreign operation.

X

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The disclosure of detailed information about hedged items. [Refer: Hedged items [member]]

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