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Derivative Instruments and Accounting Hedges (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Accounting Hedges

Schedule of Bank's portfolio of derivative instruments

		As of December 31, 2016
		Notional  amount		Fair value
		contract		Asset		Liability
		MCh$		MCh$		MCh$
Derivatives held for hedging of fair value
Cross currency swap		16,721		—		4,304
Interest rate swap		122,081		218		5,989
Total derivatives held for hedging purposes		138,802		218		10,293
Derivatives held as cash flow hedges
Interest rate swap and cross currency swap		1,198,001		63,482		45,722
Total Derivatives held as cash flow hedges		1,198,001		63,482		45,722
Derivatives held-for-trading purposes
Currency forward		22,834,923		163,716		136,101
Cross currency swap		9,142,390		455,784		525,160
Interest rate swap		34,896,973		253,307		246,415
Call currency options		174,060		1,558		1,960
Put currency options		122,709		1,584		858
Total derivatives held-for-trading purposes		67,171,055		875,949		910,494
Total		68,507,858		939,649		966,509

		As of December 31, 2017
		Notional amount		Fair value
		contract		Asset		Liability
		MCh$		MCh$		MCh$
Derivatives held for hedging of fair value
Cross currency swap		13,914		—		3,652
Interest rate swap		78,970		277		1,678
Total derivatives held for hedging purposes		92,884		277		5,330
Derivatives held as cash flow hedges
Interest rate swap and cross currency swap		1,148,561		27,572		80,888
Total Derivatives held as cash flow hedges		1,148,561		27,572		80,888
Derivatives held-for-trading purposes
Currency forward		29,451,333		506,614		574,931
Interest rate forward		14,000		—		206
Interest rate swap		55,617,104		243,931		236,954
Cross currency swap		11,281,240		466,192		490,811
Call currency options		153,776		514		472
Put currency options		145,873		2,841		3,403
Total derivatives held-for-trading purposes		96,663,326		1,220,092		1,306,777
Total		97,904,771		1,247,941		1,392,995

Schedule of Details of the Hedged elements and hedge instruments under fair value hedges

		As of December 31,
		2016		2017
		MCh$		MCh$
Notional Amounts
Hedged element
Commercial loans		16,721		13,914
Corporate bonds		122,081		78,970
Hedge instrument
Cross currency swap		16,721		13,914
Interest rate swap		122,081		78,970

Schedule of cash flows of borrowings from banks and bonds issued abroad, the objects of these hedges and the cash flows of the asset part of the derivative

		2016
		Up to 1 month		Over 1 month  and up to 3  months		Over 3 months  and up to 12  months		Over 1 year  and up to 3  years		Over 3 years  and up to 5  years		Over 5 years		Total
		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Hedge item
Outflows:
Corporate Bond EUR		—		—		(552	)	(1,105	)	(1,105	)	(35,467	)	(38,229	)
Corporate Bond HKD		—		—		(12,144	)	(76,922	)	(21,084	)	(338,517	)	(448,667	)
Corporate Bond PEN		—		—		(15,614	)	—		—		—		(15,614	)
Corporate Bond CHF		—		(1,031	)	(87,308	)	(370,926	)	(495	)	(99,748	)	(559,508	)
Obligation USD		(531	)	—		(115,113	)	(101,478	)	—		—		(217,122	)
Corporate Bond JPY		—		(306	)	(623	)	(46,415	)	(29,418	)	(28,866	)	(105,628	)
Hedge instruments
Inflows:
Cross Currency Swap EUR		—		—		552		1,105		1,105		35,467		38,229
Cross Currency Swap HKD		—		—		12,144		76,922		21,084		338,517		448,667
Cross Currency Swap PEN		—		—		15,614		—		—		—		15,614
Cross Currency Swap CHF		—		1,031		87,308		370,926		495		99,748		559,508
Cross Currency Swap USD		531		—		115,113		101,478		—		—		217,122
Cross Currency Swap JPY		—		306		623		46,415		29,418		28,866		105,628
Net cash flow		—		—		—		—		—		—		—

Schedule of contractual maturity of financial liabilities

		2017
		Up to 1 month		Over 1 month  and up to 3  months		Over 3 months  and up to 12  months		Over 1 year  and up to 3  years		Over 3 years  and up to 5  years		Over 5 years		Total
		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Hedge item
Outflows:
Corporate Bond EUR		—		—		(1,246	)	(2,491	)	(2,491	)	(82,348	)	(88,576	)
Corporate Bond HKD		—		—		(11,052	)	(68,634	)	(19,202	)	(298,776	)	(397,664	)
Corporate Bond PEN		—		—		—		—		—		—		—
Corporate Bond CHF		—		(986	)	(161,529	)	(192,519	)	(474	)	(95,174	)	(450,682	)
Obligation USD		(212	)	(235	)	(93,173	)	(43,385	)	—		—		(137,005	)
Corporate Bond JPY		—		(292	)	(1,150	)	(72,098	)	(28,886	)	(63,002	)	(165,428	)
Hedge instruments
Inflows:
Cross Currency Swap EUR		—		—		1,246		2,491		2,491		82,348		88,576
Cross Currency Swap HKD		—		—		11,052		68,634		19,202		298,776		397,664
Cross Currency Swap PEN		—		—		—		—		—		—		—
Cross Currency Swap CHF		—		986		161,529		192,519		474		95,174		450,682
Cross Currency Swap USD		212		235		93,173		43,385		—		—		137,005
Cross Currency Swap JPY		—		292		1,150		72,098		28,886		63,002		165,428
Net cash flow		—		—		—		—		—		—		—

		2016
		Up to 1 month		Over 1 month  and up to 3  months		Over 3 months  and up to 12  months		Over 1 year  and up to 3  years		Over 3 years  and up to 5  years		Over 5 years		Total
		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Hedge item
Inflows:
Cash flow in CLF		1,155		2,304		232,833		592,204		54,094		470,207		1,352,797
Hedge instruments
Outflows:
Cross Currency Swap HKD		—		—		(9,253	)	(66,278	)	(16,091	)	(288,322	)	(379,944	)
Cross Currency Swap PEN		—		—		(16,588	)	—		—		—		(16,588	)
Cross Currency Swap JPY		—		(1,043	)	(1,867	)	(52,107	)	(32,878	)	(30,761	)	(118,656	)
Cross Currency Swap USD		—		—		(114,210	)	(108,690	)	—		—		(222,900	)
Cross Currency Swap CHF		(1,155	)	(1,261	)	(89,876	)	(363,045	)	(3,560	)	(109,592	)	(568,489	)
Cross Currency Swap EUR		—		—		(1,039	)	(2,084	)	(1,565	)	(41,532	)	(46,220	)
Net cash flow		—		—		—		—		—		—		—

		2017
		Up to 1 month		Over 1 month  and up to 3  months		Over 3 months  and up to 12  months		Over 1 year  and up to 3  years		Over 3 years  and up to 5  years		Over 5 years		Total
		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Hedge item
Inflows:
Cash flow in CLF		—		2,344		281,377		414,764		59,737		555,461		1,313,683
Hedge instruments
Outflows:
Cross Currency Swap HKD		—		—		(9,404	)	(66,188	)	(16,365	)	(285,066	)	(377,023	)
Cross Currency Swap PEN		—		—		—		—		—		—		—
Cross Currency Swap JPY		—		(1,061	)	(3,372	)	(85,598	)	(35,063	)	(77,895	)	(202,989	)
Cross Currency Swap USD		—		—		(111,077	)	(44,840	)	—		—		(155,917	)
Cross Currency Swap CHF		—		(1,283	)	(155,767	)	(214,620	)	(4,793	)	(107,870	)	(484,333	)
Cross Currency Swap EUR		—		—		(1,757	)	(3,518	)	(3,516	)	(84,630	)	(93,421	)
Net cash flow		—		—		—		—		—		—		—

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Tabular disclosure for maturity analysis for derivative financial assets held for managing liquidity risk.

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

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The disclosure of detailed information about hedges.

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The disclosure of a maturity analysis for derivative financial liabilities, including the remaining contractual maturities for those derivative financial liabilities for which contractual maturities are essential for an understanding of the timing of the cash flows. [Refer: Derivative financial liabilities]

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