CASH AND DUE FROM BANKS

12 Months Ended

Dec. 31, 2018

Disclosure Of Cash And Cash Equivalents [Abstract]

Disclosure of cash and cash equivalents [text block]

4	CASH AND DUE FROM BANKS

This item consists of the following:

	2018		2017
	S/(000)		S/(000)

Cash and clearing (a)		6,169,795		5,034,569
Deposits with Central Reserve Bank of Peru - BCRP (a)		13,206,885		15,136,245
Deposits with local and foreign banks (b)		2,509,520		2,828,830
Interbank funds		253,970		207,559
Accrued interest		20,633		4,994
Total cash and cash equivalents		22,160,803		23,212,197
Restricted funds		7,713		9,790
Total cash		22,168,516		23,221,987

Cash and cash equivalents presented in the consolidated statement of cash flows excludes restricted funds, see Note 3(ac).

Cash and clearing and deposits with Central Reserve Bank of Peru -

These accounts mainly include the legal cash requirements that Credicorp and its Subsidiaries must keep to be able to honor their obligations with the public, which are within the limits established by current legislation. The composition of these funds is as follows:

	2018		2017
	S/(000)		S/(000)

Legal cash requirements (i)
Deposits with Central Reserve Bank of Peru		11,769,043		11,768,476
Cash in vaults of Bank		5,591,168		4,425,384
Total legal cash requirements		17,360,211		16,193,860

Additional funds
Overnight deposits (ii)		1,437,842		3,367,769
Cash in vaults of Bank and others		578,627		609,185
Total additional funds		2,016,469		3,976,954
Total		19,376,680		20,170,814

(i)

At December 31, 2018 cash and deposits subject to legal cash requirements in local and foreign currency are subject to an implicit rate of 5.01 percent and 35.12 percent, respectively, on the total balance of obligations subject to legal cash requirements, as required by the BCRP (5.00 percent and 32.40 percent, respectively, at December 31, 2017).

(ii)

At December 31, 2018, the Group maintains two “overnight” deposits with the BCRP, which are denominated in U.S Dollars for US$426.3 million, equivalent to S/1,437.8 million. At said date, deposits in dollars accrue interest at annual rates of 2.43 percent and have maturities at 2 days.

At December 31, 2017, the Group maintains two “overnight” deposits with the BCRP, which are denominated in U.S Dollars for US$946.6 million, equivalent to S/3,067.8 million and a deposit in soles for S/300.0 million. At said date, deposits in dollars and soles accrue interest at annual rates of 1.41 percent and 2.00 percent, respectively, and have maturities at 5 days.

Deposits with local and foreign banks -

Deposits with local and foreign banks mainly consist of balances in soles and U.S. dollars; these are cash in hand and earn interest at market rates. At December 31, 2018 and 2017 Credicorp and its Subsidiaries do not maintain significant deposits with any bank in particular.