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Risk and Capital Management (Tables)
 12 Months Ended
Dec. 31, 2022
Risk And Capital Management  
Disclosure Of Financial Assets At Amortised Cost And At Fair Value Through Other Comprehensive Income And The Impact On Expected Credit Loss In Various Scenarios
                   
   
12/31/2022   12/31/2021
Financial    Assets (1) Expected    Loss (2) Reduction/(Increase) of Expected Loss   Financial    Assets (1) Expected    Loss (2) Reduction/(Increase) of Expected Loss
Pessimistic scenario Base scenario Optimistic scenario   Pessimistic scenario Base scenario Optimistic scenario
1,256,751 (54,476) (530) 198 530   1,078,891 (46,348) (340) 163 1,788
1) Composed of Loan operations, lease operations and securities.
2) Comprises expected credit loss for Financial Guarantees R$ (810) (R$ (767) at 12/31/2021) and Loan Commitments R$ (2,874) (R$ (4,433) at 12/31/2021).
Summary of Credit Risk Exposure
I.IV - Maximum Exposure of Financial Assets to Credit Risk
             
  12/31/2022   12/31/2021
  Brazil Abroad Total   Brazil Abroad Total
Financial  Assets 1,545,701 511,277 2,056,978   1,319,532 485,649 1,805,181
At Amortized Cost 1,120,797 350,447 1,471,244   914,776 350,614 1,265,390
Interbank deposits 18,955 40,637 59,592   17,795 52,147 69,942
Securities purchased under  agreements to resell 218,339 3,440 221,779   159,974 9,744 169,718
Securities 191,947 27,368 219,315   125,875 21,871 147,746
Loan and lease operations 636,836 272,586 909,422   562,646 259,944 822,590
Other financial assets 97,995 13,828 111,823   81,398 15,075 96,473
(-) Provision for Expected  Loss (43,275) (7,412) (50,687)   (32,912) (8,167) (41,079)
At Fair Value Through Other  Comprehensive Income 48,438 72,614 121,052   44,648 60,974 105,622
Securities 48,438 72,614 121,052   44,648 60,974 105,622
At Fair Value Through Profit  or Loss 376,466 88,216 464,682   360,108 74,061 434,169
Securities 364,039 21,060 385,099   343,339 21,628 364,967
Derivatives 11,052 67,156 78,208   16,612 52,433 69,045
Other financial assets 1,375 - 1,375   157 - 157
Financial liabilities -  provision for expected loss 3,040 644 3,684   4,543 657 5,200
Loan Commitments 2,622 252 2,874   4,115 318 4,433
Financial Guarantees 418 392 810   428 339 767
Off balance sheet 472,372 72,005 544,377   446,267 73,431 519,698
Financial Guarantees 71,524 20,255 91,779   62,548 20,362 82,910
Letters of credit to be  released 47,354 - 47,354   45,773 - 45,773
Loan commitments 353,494 51,750 405,244   337,946 53,069 391,015
Mortgage loans 15,423 - 15,423   10,709 - 10,709
Overdraft accounts 157,408 - 157,408   147,878 - 147,878
Credit cards 177,658 3,754 181,412   176,384 3,840 180,224
Other pre-approved limits 3,005 47,996 51,001   2,975 49,229 52,204
Total 2,015,033 582,638 2,597,671   1,761,256 558,423 2,319,679
Schedule of other financial assets
I.IV.I - By business sector        
Loans and Financial Lease Operations        
       
  12/31/2022 % 12/31/2021 %
Industry and commerce 197,351 21.7% 190,491 23.1%
Services 177,180 19.5% 173,332 21.1%
Other sectors 37,072 4.1% 37,652 4.6%
Individuals 497,819 54.7% 421,115 51.2%
Total 909,422 100.0% 822,590 100.0%

 

Other financial assets (1)
         
  12/31/2022 % 12/31/2021 %
Public sector 691,964 63.8% 580,619 62.2%
Services 167,176 15.4% 150,831 16.2%
Other sectors 119,436 11.0% 83,521 9.0%
Financial 106,469 9.8% 117,869 12.6%
Total 1,085,045 100.0% 932,840 100.0%
1) Includes Financial Assets at Fair Value through Profit and Loss, Financial Assets at Fair Value through Other Comprehensive Income and Financial Assets at Amortized Cost, except for Loan and Lease Operations and Other Financial Assets.
The exposure of Off Balance financial instruments (Financial Collaterals and Loan Commitments) is neither categorized nor managed by business sector.
Schedule of other financial assets
Other financial assets (1)
         
  12/31/2022 % 12/31/2021 %
Public sector 691,964 63.8% 580,619 62.2%
Services 167,176 15.4% 150,831 16.2%
Other sectors 119,436 11.0% 83,521 9.0%
Financial 106,469 9.8% 117,869 12.6%
Total 1,085,045 100.0% 932,840 100.0%
1) Includes Financial Assets at Fair Value through Profit and Loss, Financial Assets at Fair Value through Other Comprehensive Income and Financial Assets at Amortized Cost, except for Loan and Lease Operations and Other Financial Assets.
The exposure of Off Balance financial instruments (Financial Collaterals and Loan Commitments) is neither categorized nor managed by business sector.
Summary of Breakdown of Indicators of Credit Quality
                                     
I.IV.II - By type and classification of credit risk
Loan and lease operations
    12/31/2022
    Stage 1   Stage 2   Stage 3   Total Consolidated of 3 Stages
    Loan  Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total
Individuals 305,210 233,996 511 539,717   59,639 8,538 1 68,178   35,254 226 - 35,480   400,103 242,760 512 643,375
Corporate 133,205 29,853 60,209 223,267   901 32 444 1,377   5,162 11 2,551 7,724   139,268 29,896 63,204 232,368
Micro/Small and medium companies 142,621 84,619 9,520 236,760   12,299 1,494 115 13,908   9,976 265 123 10,364   164,896 86,378 9,758 261,032
Foreign loans - Latin America 182,516 44,542 16,912 243,970   13,863 1,544 1,279 16,686   8,776 124 114 9,014   205,155 46,210 18,305 269,670
Total 763,552 393,010 87,152 1,243,714   86,702 11,608 1,839 100,149   59,168 626 2,788 62,582   909,422 405,244 91,779 1,406,445
% 61.4% 31.6% 7.0% 100.0%   86.6% 11.6% 1.8% 100.0%   94.5% 1.0% 4.5% 100.0%   64.7% 28.8% 6.5% 100.0%

 

    12/31/2021
    Stage 1   Stage 2   Stage 3   Total Consolidated of 3 Stages
    Loan Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total   Loan Operations Loan commitments Financial Guarantees Total
Individuals 270,371 220,961 944 492,276   38,168 20,723 - 58,891   23,997 686 - 24,683   332,536 242,370 944 575,850
Corporate 128,519 23,882 52,429 204,830   1,600 200 535 2,335   4,915 23 2,478 7,416   135,034 24,105 55,442 214,581
Micro/Small and medium companies 124,555 71,158 7,605 203,318   16,749 4,823 130 21,702   8,666 222 141 9,029   149,970 76,203 7,876 234,049
Foreign loans - Latin America 178,719 46,629 17,776 243,124   13,389 1,621 713 15,723   12,942 87 159 13,188   205,050 48,337 18,648 272,035
Total 702,164 362,630 78,754 1,143,548   69,906 27,367 1,378 98,651   50,520 1,018 2,778 54,316   822,590 391,015 82,910 1,296,515
% 61.4% 31.7% 6.9% 100.0%   70.9% 27.7% 1.4% 100.0%   93.0% 1.9% 5.1% 100.0%   63.4% 30.2% 6.4% 100.0%
Summary of Internal Rating
                 
Internal rating 12/31/2022   12/31/2021
Stage 1 Stage 2 Stage 3 Total loan operations   Stage 1 Stage 2 Stage 3 Total loan operations
Low 705,625 62,501 - 768,126   662,839 42,028 - 704,867
Medium 57,508 14,095 - 71,603   38,980 19,239 - 58,219
High 419 10,106 - 10,525   345 8,639 - 8,984
Credit-Impaired - - 59,168 59,168   - - 50,520 50,520
Total 763,552 86,702 59,168 909,422   702,164 69,906 50,520 822,590
% 84.0% 9.5% 6.5% 100.0%   85.4% 8.5% 6.1% 100.0%
Maximum Exposure of Other Financial Assets by Type and Classification of Credit Risk
                   
Other financial assets
  12/31/2022
  Fair value   Stage 1   Stage 2   Stage 3
  Cost Fair value   Cost Fair value   Cost Fair value
Investment funds 32,491   27,660 27,140   5,259 5,259   92 92
Government securities 479,834   483,476 479,834   - -   - -
Brazilian government 394,675   397,793 394,675   - -   - -
Other Public -   36 -   - -   - -
Abroad 85,159   85,647 85,159   - -   - -
Argentina 3,453   3,460 3,453   - -   - -
United States 9,665   9,716 9,665   - -   - -
Israel 860   852 860   - -   - -
Mexico 14,010   14,021 14,010   - -   - -
Spain 9,922   9,924 9,922   - -   - -
Korea 10,363   10,365 10,363   - -   - -
Chile 24,681   24,811 24,681   - -   - -
Paraguay 3,463   3,461 3,463   - -   - -
Uruguay 1,182   1,185 1,182   - -   - -
Colombia 3,151   3,430 3,151   - -   - -
Peru 6   7 6   - -   - -
Switzerland 4,403   4,415 4,403   - -   - -
Corporate securities 211,103   216,005 208,241   3,559 2,512   2,297 350
Rural product note 28,896   28,670 28,618   287 262   29 16
Real  estate receivables certificates 7,214   7,318 7,214   - -   - -
Bank deposit certificate 1,172   1,172 1,172   - -   - -
Debentures 110,075   110,732 108,140   2,470 1,610   2,037 325
Eurobonds and other 8,770   9,035 8,770   - -   - -
Financial bills 19,504   19,535 19,504   - -   - -
Promissory and commercial notes 11,250   11,251 11,250   - -   - -
Other 24,222   28,292 23,573   802 640   231 9
Total 723,428   727,141 715,215   8,818 7,771   2,389 442

 

 

  12/31/2021
  Fair value   Stage 1   Stage 2   Stage 3
  Cost Fair value   Cost Fair value   Cost Fair value
Investment funds 20,139   4,906 4,914   15,224 15,225   - -
Government securities 423,085   426,959 423,085   - -   - -
Brazilian government 362,449   365,947 362,449   - -   - -
Other Public -   36 -   - -   - -
Abroad 60,636   60,976 60,636   - -   - -
Argentina 1,335   1,310 1,335   - -   - -
United States 7,189   7,226 7,189   - -   - -
Mexico 12,413   12,424 12,413   - -   - -
Spain 6,131   6,132 6,131   - -   - -
Korea 5,604   5,604 5,604   - -   - -
Chile 21,399   21,552 21,399   - -   - -
Paraguay 1,469   1,526 1,469   - -   - -
Uruguay 1,258   1,256 1,258   - -   - -
Colombia 3,830   3,938 3,830   - -   - -
Peru 8   8 8   - -   - -
Corporate securities 173,163   169,489 167,457   3,391 2,789   4,993 2,917
Rural product note 12,744   12,474 12,597   146 121   38 26
Real estate receivables certificates 4,999   5,063 4,999   - -   - -
Bank deposit certificate 390   392 390   - -   - -
Debentures 103,659   99,438 98,867   2,383 1,923   4,704 2,869
Eurobonds and other 10,206   10,236 10,194   12 12   - -
Financial bills 10,168   10,185 10,168   - -   - -
Promissory and commercial notes 8,901   8,874 8,901   - -   - -
Other 22,096   22,827 21,341   850 733   251 22
Total 616,387   601,354 595,456   18,615 18,014   4,993 2,917
Summary of Financial Assets Individually Evaluated Classified by Rating
         
Other Financial Assets  - Internal Classification by Level of Risk
           
12/31/2022
Internal rating Financial Assets - At Amortized Cost Financial assets at fair value through profit or loss (1) Financial Assets at fair value through other comprehensive income Total
Interbank deposits and securities purchased under agreements to resell Securities
Low 281,371 214,894 461,153 120,977 1,078,395
Medium - 3,816 2,104 75 5,995
High - 605 50 - 655
Total 281,371 219,315 463,307 121,052 1,085,045
% 25.9% 20.2% 42.7% 11.2% 100.0%
1) Includes Derivatives in the amount of R$ 78,208.

 

           
12/31/2021
Internal rating Financial Assets - At Amortized Cost Financial assets at fair value through profit or loss (1) Financial Assets at fair value through other comprehensive income Total
Interbank deposits and securities purchased under agreements to resell Securities
Low 245,442 142,416 430,729 105,622 924,209
Medium - 4,399 3,219 - 7,618
High 18 931 64 - 1,013
Total 245,460 147,746 434,012 105,622 932,840
% 26.4% 15.8% 46.5% 11.3% 100.0%
1) Includes Derivatives in the amount of R$ 69,045.
Summary of Collateral for Loans and Financial Lease Operations
                 
  12/31/2022   12/31/2021
Over-collateralized  assets Under-collateralized assets   Over-collateralized assets Under-collateralized assets
Carrying value of the assets Fair value of collateral Carrying value of the assets Fair value of collateral   Carrying value of the assets Fair value of collateral Carrying value of the assets Fair value of collateral
Individuals 141,896 336,597 3,085 2,861   113,194 282,131 1,014 907
Personal (1) 2,971 11,106 1,469 1,394   2,436 8,338 639 583
Vehicles (2) 29,613 70,901 1,610 1,463   26,941 68,275 368 318
Mortgage loans (3) 109,312 254,590 6 4   83,817 205,518 7 6
Micro, small and medium companies and corporates (4) 173,007 614,178 41,395 36,233   170,334 634,871 32,436 26,933
Foreign loans - Latin America (4) 175,517 319,085 11,817 4,441   168,968 330,020 9,782 4,152
Total 490,420 1,269,860 56,297 43,535   452,496 1,247,022 43,232 31,992
1) In general requires financial collaterals.
2) Vehicles themselves are pledged as collateral, as well as assets leased in lease operations.
3) Properties themselves are pledged as collateral.
4) Any collateral set forth in the credit policy of ITAÚ UNIBANCO HOLDING (chattel mortgage, surety/joint debtor, mortgage and other).
Summary of VaR Total - Historical Simulation           VaR Total  (Historical Simulation) (in millions of reais) (1)12/31/2022 12/31/2021AverageMinimumMaximumVar Total AverageMinimumMaximumVar Total      VaR by Risk Factor Group         Interest rates1,1028851,7511,160 9374251,4111,257Currencies2695526 18103713Shares27186565 42179824Commodities421010 4184Effect of diversification---(527) ---(602)Total risk6784941,172734 441198707696

1) VaR by Risk Factor Group considers information from foreign units.
Summary of Position of Accounts Subject to Interest Rate Risk
                         
  12/31/2022   12/31/2021
  0-30 days 31-180 days 181-365 days 1-5 years Over 5     years Total   0-30 days 31-180 days 181-365 days 1-5 years Over 5 years Total
Financial assets 604,311 374,530 208,849 633,741 274,964 2,096,395   457,279 294,051 193,279 642,495 253,300 1,840,404
At amortized cost 464,682 314,721 167,134 392,172 171,952 1,510,661   395,256 258,580 152,270 345,538 148,969 1,300,613
Compulsory deposits in the Central Bank of Brazil 102,600 - - - - 102,600   92,580 - - - - 92,580
Interbank deposits 40,782 8,207 7,683 2,800 114 59,586   51,138 7,050 5,861 5,669 216 69,934
Securities purchased under agreements to resell 177,458 44,221 47 - 50 221,776   142,405 26,532 - 403 371 169,711
Securities 15,933 19,075 26,632 107,906 47,731 217,277   4,427 12,884 27,858 69,965 30,664 145,798
Loan and lease operations 127,909 243,218 132,772 281,466 124,057 909,422   104,706 212,114 118,551 269,501 117,718 822,590
At fair value through other comprehensive income 35,573 13,223 6,609 47,249 18,398 121,052   10,420 9,286 6,722 63,256 15,938 105,622
At fair value through profit and loss 104,056 46,586 35,106 194,320 84,614 464,682   51,603 26,185 34,287 233,701 88,393 434,169
Securities 81,484 39,344 26,454 169,113 68,704 385,099   36,111 13,872 28,532 212,911 73,541 364,967
Derivatives 22,572 7,215 8,362 24,834 15,225 78,208   15,492 12,292 5,632 20,777 14,852 69,045
Other Financial Assets - 27 290 373 685 1,375   - 21 123 13 - 157
Financial liabilities 651,532 177,388 142,668 585,754 112,329 1,669,671   660,751 127,205 107,515 361,399 228,857 1,485,727
At amortized cost 643,530 160,422 125,266 563,338 99,607 1,592,163   653,598 110,994 99,753 340,944 216,959 1,422,248
Deposits 360,548 75,395 62,860 360,225 12,410 871,438   402,930 52,259 38,563 220,822 135,798 850,372
Securities sold under repurchase agreements 264,284 5,698 816 16,223 6,419 293,440   239,843 2,627 725 5,659 3,994 252,848
Interbank market funds 12,918 67,034 57,476 148,390 8,769 294,587   9,976 46,610 41,520 69,043 9,996 177,145
Institutional market funds 5,379 11,800 3,552 36,642 72,009 129,382   439 9,045 18,422 43,559 67,171 138,636
Premium bonds plans 401 495 562 1,858 - 3,316   410 453 523 1,861 - 3,247
At fair value through profit and loss 8,002 16,966 17,402 22,416 12,722 77,508   7,153 16,211 7,762 20,455 11,898 63,479
Derivatives 8,002 16,950 17,164 22,278 12,467 76,861   7,153 16,174 7,625 20,404 11,848 63,204
Structured notes - 1 1 18 44 64   - - 16 48 50 114
Other Financial Liabilities - 15 237 120 211 583   - 37 121 3 - 161
Difference assets / liabilities (1) (47,221) 197,142 66,181 47,987 162,635 426,724   (203,472) 166,846 85,764 281,096 24,443 354,677
Cumulative difference (47,221) 149,921 216,102 264,089 426,724     (203,472) (36,626) 49,138 330,234 354,677  
Ratio of cumulative difference to total  interest-bearing assets (2.3)% 7.2% 10.3% 12.6% 20.4%     (11.1)% (2.0)% 2.7% 17.9% 19.3%  

 

1) The difference arises from the mismatch between the maturities of all remunerated assets and liabilities, at the respective period-end date, considering the contractually agreed terms.
Summary of Funding from Customers
             
Funding from customers 12/31/2022   12/31/2021
0-30 days Total %   0-30 days Total %
Deposits 360,548 871,438     402,930 850,372  
Demand deposits 117,587 117,587 9.9%   158,116 158,116 14.8%
Savings deposits 179,764 179,764 15.2%   190,601 190,601 17.9%
Time deposits 57,365 564,215 47.7%   52,563 497,051 46.5%
Other 5,832 9,872 0.8%   1,650 4,604 0.4%
Funds from acceptances and issuance of securities (1) 12,436 256,495 21.8%   2,310 143,138 13.4%
Funds from own issue (2) - 8 -   - 21 -
Subordinated debt - 54,540 4.6%   - 75,036 7.0%
Total 372,984 1,182,481 100.0%   405,240 1,068,567 100.0%
1) Includes mortgage notes, guaranteed real estate credit bills, agribusiness, financial recorded in interbank markets funds and Obligations on the issue of debentures, Securities abroad and strutured operations certificates recorded in Institutional Markets Funds.
2) Refers to deposits received under securities repurchase agreements with securities from own issue.
Summary of Liquidity Indicators
   
The table below shows the indicators used by ITAÚ UNIBANCO HOLDING in the management of liquidity risk:
       
Liquidity indicators 12/31/2022 12/31/2021
% %
Net assets / customers funds within 30 days (1,2) 69.4% 56.5%
Net assets / total customers funds (1,3) 21.9% 21.4%
Net assets / total financial assets (1,4) 16.2% 16.2%

 

1) Net assets (present value): Cash, Securities purchased under agreements to resell – Funded position and Government securities - available. Detailed in the table Non discounted future flows – Financial assets.
2) Funding from customers table (Total funding from customers 0-30 days).
3) Funding from customers table (Total funding from customers).
4) Detailed in the table Non discounted future flows – Financial assets, total present value regards R$ 1,595,176 (R$ 1,411,089 at 12/31/2021).
Summary of Assets and Liabilities According to Their Remaining Contractual Maturities, Considering Their Undiscounted Flows
                     
Undiscounted future flows, except for derivatives which are fair value 12/31/2022   12/31/2021
Financial assets (1) 0 - 30 31 - 365 366 - 720 Over 720 days Total   0 - 30 31 - 365 366 - 720 Over 720 days Total
Cash 35,381 - - - 35,381   44,512 - - - 44,512
                       
Interbank investments 225,253 57,085 1,797 1,493 285,628   195,260 32,238 4,535 1,670 233,703
Securities purchased under agreements to resell – Collateral held (2) 46,146 9,912 - 116 56,174   32,435 - - - 32,435
Securities purchased under agreements to resell – Collateral repledge 138,381 30,926 - - 169,307   105,875 19,355 - - 125,230
Interbank deposits (4) 40,726 16,247 1,797 1,377 60,147   56,950 12,883 4,535 1,670 76,038
                       
Securities 214,486 55,033 28,743 230,772 529,034   158,915 30,191 45,156 223,244 457,506
Government securities -  available 188,251 - 2 - 188,253   145,989 453 483 6,737 153,662
Government securities – under repurchase commitments 6,196 27,370 12,194 37,632 83,392   1,337 13,446 27,132 35,575 77,490
Private securities -  available 19,995 24,066 11,986 128,862 184,909   11,247 13,349 12,062 133,385 170,043
Private securities – under repurchase commitments 44 3,597 4,561 64,278 72,480   342 2,943 5,479 47,547 56,311
                       
Derivative financial instruments - Net position 22,572 15,577 10,093 29,966 78,208   15,492 17,924 8,826 26,803 69,045
Swaps 4,866 5,499 8,261 28,276 46,902   1,820 3,803 7,341 25,050 38,014
Options 15,610 6,649 802 610 23,671   10,599 9,216 683 754 21,252
Forwards 460 135 - 6 601   1,595 1,513 3 - 3,111
Other derivatives 1,636 3,294 1,030 1,074 7,034   1,478 3,392 799 999 6,668
                       
Loan and lease operations (3) 93,627 314,332 154,386 334,402 896,747   77,663 282,913 135,840 315,004 811,420
                       
Other financial assets 3 314 91 967 1,375   - 144 5 8 157
                       
Total  financial assets 591,322 442,341 195,110 597,600 1,826,373   491,842 363,410 194,362 566,729 1,616,343
1) The assets portfolio does not take into consideration the balance of compulsory deposits in Central Bank, amounting to R$ 115,748 (R$ 110,392 at 12/31/2021), which release of funds is linked to the maturity of the liability portfolios. The amounts of PGBL and VGBL are not considered in the assets portfolio because they are covered in Note 26.
2) Net of R$ 14,576 (R$ 9,266 at 12/31/2021) which securities are linked to guarantee transactions  at B3 S.A. - Brasil, Bolsa, Balcão and the BACEN.
3) Net of payment to merchants of R$ 109,981 (R$ 92,011 at 12/31/2021) and the amount of liabilities from transactions related to credit assignments R$ 772 (R$ 1,004 at 12/31/2021).
4) Includes R$ 28,108 (R$ 40,221 at 12/31/2021) related to Compulsory Deposits with Central Banks of other countries.

Undiscounted future flows, except for derivatives which are fair value 12/31/2022   12/31/2021
Financial liabilities 0 – 30 31 – 365 366 – 720 Over 720     days Total   0 – 30 31 – 365 366 – 720 Over 720     days Total
                       
Deposits 370,101 138,908 66,162 405,977 981,148   397,416 96,669 95,397 350,792 940,274
Demand deposits 117,587 - - - 117,587   158,116 - - - 158,116
Savings deposits 179,764 - - - 179,764   190,601 - - - 190,601
Time deposit 66,750 134,941 66,161 405,977 673,829   46,938 94,040 95,149 350,791 586,918
Interbank deposits 1,022 3,967 1 - 4,990   933 2,629 248 1 3,811
Other deposits 4,978 - - - 4,978   828 - - - 828
                       
Compulsory deposits (49,497) (17,084) (8,119) (41,048) (115,748)   (49,924) (12,461) (11,797) (36,210) (110,392)
Demand deposits (13,148) - - - (13,148)   (17,812) - - - (17,812)
Savings deposits (27,923) - - - (27,923)   (25,807) - - - (25,807)
Time deposit (8,426) (17,084) (8,119) (41,048) (74,677)   (6,305) (12,461) (11,797) (36,210) (66,773)
                       
Securities sold under repurchase agreements (1) 297,853 1,900 6,597 15,387 321,737   265,184 5,615 7,020 5,943 283,762
Government securities 229,077 1,899 6,597 15,375 252,948   191,281 1,261 3,885 5,687 202,114
Private securities 23,709 1 - 12 23,722   26,141 3,621 2,775 18 32,555
Foreign 45,067 - - - 45,067   47,762 733 360 238 49,093
                       
Funds from acceptances and issuance of securities (2) 10,532 52,792 61,847 152,502 277,673   2,986 35,346 30,927 83,967 153,226
                       
Loans and onlending obligations (3) 35,747 70,549 10,734 11,284 128,314   9,875 71,278 9,491 12,868 103,512
                       
Subordinated debt (4) 492 22,085 7,803 43,189 73,569   55 27,857 16,282 48,969 93,163
                       
Derivative financial instruments - Net position 8,002 34,114 9,056 25,689 76,861   7,153 23,799 8,596 23,656 63,204
Swaps 2,835 5,114 7,344 23,775 39,068   1,562 3,970 6,944 22,170 34,646
Option 3,221 25,087 901 673 29,882   4,086 16,896 786 779 22,547
Forward 55 10 - - 65   762 - - - 762
Other derivatives 1,891 3,903 811 1,241 7,846   743 2,933 866 707 5,249
                       
Other financial liabilities - 252 34 297 583   - 158 - 3 161
                       
Total financial liabilities 675,359 302,967 153,854 611,957 1,744,137   632,745 248,261 155,916 489,988 1,526,910
1) Includes own and third parties’ portfolios.
2) Includes mortgage notes, Guaranteed real estate notes, agribusiness, financial recorded in interbank market funds and Obligations on issue of debentures, Securities abroad and Structured Transactions certificates recorded in institutional markets funds.
3) Recorded in funds from interbank markets.
4) Recorded in funds from institutional markets.
Summary of Off Balance Commitments
                       
Off balance commitments   12/31/2022   12/31/2021
Note 0 – 30 31 – 365 366 – 720 Over 720     days Total   0 – 30 31 – 365 366 – 720 Over 720     days Total
Financial Guarantees   2,987 31,548 12,731 44,513 91,779   3,742 28,530 11,046 39,592 82,910
Commitments to be released   161,822 50,552 20,386 172,484 405,244   151,235 35,605 18,541 185,634 391,015
Letters of credit to be released   47,354 - - - 47,354   45,773 - - - 45,773
Contractual commitments - Fixed and Intangible assets 13 and 14 - - - 3 3   - 3 - - 3
Total   212,163 82,100 33,117 217,000 544,380   200,750 64,138 29,587 225,226 519,701
Summary of Composition Of Capital Adequcy
   
  12/31/2022 12/31/2021
Available capital (amounts)    
Common Equity Tier 1 147,781 130,716
Tier 1 166,868 149,912
Total capital (PR) 185,415 169,797
Risk-weighted assets (amounts)    
Total risk-weighted assets (RWA) 1,238,582 1,153,841
Risk-based capital ratios as a percentage of RWA    
Common Equity Tier 1 ratio (%) 11.9% 11.3%
Tier 1 ratio (%) 13.5% 13.0%
Total capital ratio (%) 15.0% 14.7%
Additional CET1 buffer requirements as a percentage of RWA    
Capital conservation buffer requirement (%) (1) 2.50% 2.00%
Countercyclical buffer requirement (%) - -
Bank G-SIB and/or D-SIB additional requirements (%) 1.0% 1.0%
Total of bank CET1 specific buffer requirements (%) 3.50% 3.00%
1) For purposes of calculating the Conservation capital buffer, BACEN Resolution 4,783 establishes, for defined periods, percentages to be applied to the RWA value with a gradual increase until April/22, when it reaches 2.5%.
Summary of risk weighted assets
   
  RWA
  12/31/2022 12/31/2021
Credit  Risk - standardized approach 1,118,752 1,044,344
Credit risk (excluding counterparty credit risk) 1,016,137 922,824
Counterparty credit risk (CCR) 40,222 42,898
Of which: standardized approach for counterparty credit risk (SA-CCR) 25,361 27,616
Of which: other CCR 14,861 15,282
Credit valuation adjustment (CVA) 7,695 8,102
Equity investments in funds - look-through approach 8,002 5,001
Equity investments in funds - mandate-based approach 104 95
Equity investments in funds - fall-back approach 1,461 824
Securitisation exposures - standardized approach 4,408 2,195
Amounts below the thresholds for deduction 40,723 62,405
Market Risk 23,240 22,985
Of which: standardized approach (RWAMPAD) 29,050 28,731
Of which: internal models approach (RWAMINT) 23,097 14,751
Operational Risk 96,590 86,512
Total 1,238,582 1,153,841
Summary of effect of changes on actuarial assumptions
         
  Impact in Income and Stockholders’ Equity (1)
Sensitivity Test 12/31/2022   12/31/2021
Private Pension Insurance   Private Pension Insurance
Mortality Rates          
5% increase 48 (7)   45 (2)
5% decrease (49) 7   (48) 2
Risk-free Interest Rates          
0.1% increase 110 7   102 10
0.1% decrease (113) (7)   (104) (10)
Conversion in Income Rates          
5% increase (13) -   (11) -
5% decrease 15 -   11 -
Claims          
5% increase - (50)   - (58)
5% decrease - 50   - 58
Summary of risk concentration
                     
  01/01 to 12/31/2022   01/01 to 12/31/2021   01/01 to 12/31/2020
  Insurance premiums Retained premium Retention (%)   Insurance premiums Retained premium Retention (%)   Insurance premiums Retained premium Retention (%)
Individuals                      
Group accident insurance 976 973 99.7%   884 883 99.9%   849 847 99.8%
Individual accident 153 149 97.5%   176 175 99.4%   192 187 97.4%
Credit Life Insurance 1,412 1,412 100.0%   1,008 1,008 100.0%   624 624 100.0%
Group Life 1,422 1,422 100.0%   1,168 1,165 99.7%   956 955 99.9%
Summary market risk
         
Class 12/31/2022   12/31/2021
Account balance DV01   Account balance DV01
Government securities          
National Treasury Notes (NTN-C) 5,966 (3.19)   5,154 (3.05)
National Treasury Notes (NTN-B) 6,832 (7.01)   6,094 (6.24)
National Treasury Notes (NTN-F) 257 (0.14)   205 (0.11)
National Treasury Bills (LTN) 277 (0.05)   166 (0.01)
Corporate securities          
Indexed to IGPM - -   7 (0.02)
Indexed to IPCA 404 (0.39)   355 (0.36)
Indexed to PRE 30 -   23 -
Indexed to PYG 76 (0.01)   30 (0.01)
Shares 630 6   947 9
Post-fixed assets 3,776 -   6,048 -
Under agreements to resell 3,500 -   1,895 -
Total 21,748     20,924  
Schedule of Liquidity Risk
III.II - Liquidity Risk
Liquidity risk is identified by ITAÚ UNIBANCO HOLDING as the risk of lack of liquid resources available to cover its current obligations at a given moment. For insurance operations, the liquidity risk is managed continuously by monitoring payment flows against liabilities, compared to the inflows generated by its operations and financial assets portfolio.
Financial assets are managed in order to optimize the risk-return ratio of investments, considering, on a careful basis, the characteristics of their liabilities. The risk integrated control considers the concentration limits by issuer and credit risk, sensitivities and market risk limits and control over asset liquidity risk. Thus, investments are concentrated in government and private securities with good credit quality in active and liquid markets, keeping a considerable amount invested in short-term assets, available on demand, to cover regular needs and any liquidity contingencies. Additionally, ITAÚ UNIBANCO HOLDING constantly monitors the solvency conditions of its insurance operations.
               
Liabilities   Assets 12/31/2022   12/31/2021
Insurance operations   Backing asset Liabilities  amounts (1) Liability Duration (months) Asset Duration (months)   Liabilities  amounts (1) Liability Duration (months) Asset Duration (months)
Unearned premiums  

Financial treasury bills (LFT)

Repurchase agreements   

National treasury bills (LTN) 

National treasury notes (NTN-B)

National treasury notes (NTN-C)

National treasury notes (NTN-F)

Bank deposit certificates (CDB)

Financial bills (LF)

Debentures

 3,615 52.0 15.0   2,846 55.6 20.3
IBNR, PDR and PSL   880 44.0 22.3   869 48.6 27.0
Redemptions and Other Unsettled Amounts   23 13.1 15.2   19 17.9 20.3
Mathematical reserve for benefits to be granted and benefits granted   30 71.6 19.6   19 122.6 27.4
Financial surplus   - - -   1 149.5 20.3
Other provisions   135 4.8 81.5   129 7.0 90.0
Subtotal   4,683       3,883    
Pension  plan, VGBL and individual life operations                
Related expenses   49 96.5 69.4   65 103.8 76.3
Unearned premiums   12 19.6 11.3   12 16.0 18.5
Unsettled claims   74 19.6 11.3   79 16.0 18.5
IBNR   26 19.6 11.3   27 16.0 18.5
Redemptions and Other Unsettled Amounts   394 19.6 11.3   358 16.0 18.5
Mathematical reserve for benefits granted   4,015 96.5 69.5   3,786 103.8 76.4
Mathematical reserve for benefits to be granted – PGBL/ VGBL   216,735 155.3 50.7   197,897 134.0 55.2
Mathematical reserve for benefits to be granted – traditional   8,036 214.3 82.0   7,513 195.9 79.8
Other provisions   397 214.2 82.0   665 195.9 79.8
Financial surplus   729 214.3 82.0   691 195.9 79.8
Subtotal   230,467       211,093    
Total technical reserves   Total backing assets 235,150       214,976    
1) Gross amounts of Credit Rights, Deposits in Guarantee and Reinsurance. 
Summary of Financial Assets Individually Evaluated Classified by Rating
         
III.III.III - Risk level of financial assets
The table below shows insurance financial assets, individually evaluated, classified by rating:
  12/31/2022
  Financial Assets at Amortized Cost Financial assets at fair value through profit or loss (1) Financial assets at fair value through other comprehensive income Total
Internal rating Interbank deposits and securities purchased under agreements to resell Securities      
     
Low 6,560 15,171 205,665 547 227,943
Medium - 117 25 - 142
High - - 11 - 11
Total 6,560 15,288 205,701 547 228,096
% 2.9% 6.7% 90.2% 0.2% 100.0%

1) Includes Derivatives in the amount of R$ 1,146.

 

           
  12/31/2021
  Financial Assets at Amortized Cost Financial assets at fair value through profit or loss (1) Financial assets at fair value through other comprehensive income Total
Internal rating Interbank deposits and securities purchased under agreements to resell Securities      
     
Low 4,062 11,401 188,480 587 204,530
Medium - - 1 - 1
High - - 10 - 10
Total 4,062 11,401 188,491 587 204,541
% 2.0% 5.6% 92.1% 0.3% 100.0%
1) Includes Derivatives in the amount of R$ 2,946.