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Financial Assets Available-for-Sale and Financial Assets at Fair Value through Other Comprehensive Income (Tables) | 12 Months Ended
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Dec. 31, 2018
Financial Assets Available-for-Sale and Financial Assets at Fair Value through Other Comprehensive Income |
Schedule of financial assets |
|  | 2017 |  | 2018
|  | MCh$ |  | MCh$
Assets instruments Available-for Sale |  | 1,526,315 |  | —
Debt instruments at fair value through OCI |  | — |  | 1,043,440
Equity instruments valued at fair value through OCI |  | — |  | 9,751
Total |  | 1,526,315 |  | 1,053,191
Schedule of instruments classified as available-for-sale |
|  | 2017 |  | 2018
|  | MCh$ |  | MCh$
Instruments issued by the Chilean Government and Central Bank: |  |  |  |
Bonds issued by the Chilean Government and Central Bank |  | 204,128 |  | —
Promissory notes issued by the Chilean Government and Central Bank |  | 3,346 |  | —
Other instruments |  | 148,894 |  | —
Other instruments issued in Chile: |  |  |  |
Equity instruments valued at fair value |  | 9,218 |  | —
Mortgage bonds from domestic banks |  | 99,572 |  | —
Bonds from domestic banks |  | 5,415 |  | —
Deposits from domestic banks |  | 956,733 |  | —
Bonds from other Chilean companies |  | 14,969 |  | —
Other instruments |  | 83,006 |  | —
Instruments issued by foreign institutions: |  |  |  |
Equity instruments valued at cost |  | 50 |  | —
Other instruments issued abroad |  | 984 |  | —
Total |  | 1,526,315 |  | —
Schedule of breakdown of the balance under the heading "Debt instruments at fair value through OCI |
|  | 2017 |  | 2018
|  | MCh$ |  | MCh$
Instruments issued by the Chilean Government and Central Bank: |  |  |  |
Bonds issued by the Chilean Government and Central Bank |  | — |  | 135,145
Promissory notes issued by the Chilean Government and Central Bank |  | — |  | —
Other instruments |  | — |  | 29,077
Other instruments issued in Chile: |  |  |  |
Mortgage bonds from domestic banks |  | — |  | 92,491
Bonds from domestic banks |  | — |  | 5,351
Deposits from domestic banks |  | — |  | 559,108
Bonds from other Chilean companies |  | — |  | 6,599
Other instruments |  | — |  | 107,125
Instruments issued by foreign institutions: |  |  |  |
Other instruments |  | — |  | 108,544
Total |  | — |  | 1,043,440
Schedule of breakdown of the balance under the heading "Equity instruments at fair value through OCI" |
|  | 2017 |  | 2018
|  | MCh$ |  | MCh$
Equity instruments issued in Chile |  | — |  | 8,939
Equity instruments issued by foreign institutions |  | — |  | 812
Total |  | — |  | 9,751
Schedule of credit ratings of the issuers of debt instruments |
|  | 2017 |  | 2018
|  | Stage 1 |  | Stage 2 |  | Stage 3 |  |  |  |
|  | Individual |  | Individual |  | Individual |  | Total |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Debt Instrument |  |  |  |  |  |  |  |  |  |
Investment grade |  | 827,770 |  | — |  | — |  | 827,770 |  | 1,433,057
Non-investment grade |  | — |  | — |  | — |  | — |  | —
Without rating |  | 215,670 |  | — |  | — |  | 215,670 |  | 83,006
Total |  | 1,043,440 |  | — |  | — |  | 1,043,440 |  | 1,516,063
Schedule of change in gross carrying amount and ECL allowances |
|  | Commercial |  | Mortgage |  | Consumer |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Balance as of January 1, 2017 |  | 272,274 |  | 32,747 |  | 249,748 |  | 554,769
Charge-offs |  | (58,716) |  | (5,093) |  | (254,981) |  | (318,790)
Sales or transfers of credits |  | (11,595) |  | ― |  | ― |  | (11,595)
Allowances (released) established, net |  | 19,266 |  | 4,361 |  | 247,810 |  | 271,437
Balance as of December 31, 2017 |  | 221,229 |  | 32,015 |  | 242,577 |  | 495,821
Impact adoption IFRS 9 |  | 181 |  | 1,762 |  | 71,874 |  | 73,817
Balance as of January 1, 2018 |  | 221,410 |  | 33,777 |  | 314,451 |  | 569,638
Charge-offs |  | (52,419) |  | (6,993) |  | (233,511) |  | (292,923)
Sales or transfers of credits |  | (958) |  | ― |  | ― |  | (958)
Allowances (released) established, net |  | 60,831 |  | 7,546 |  | 241,244 |  | 309,621
Balance as of December 31, 2018 |  | 228,864 |  | 34,330 |  | 322,184 |  | 585,378
Schedule of unrealised gain and loss on available for sale investments |
|  | 2016 |  | 2017 |  | 2018
|  | MCh$ |  | MCh$ |  | MCh$
Net gain (loss) on financial assets before income tax (1) |  | (52,345) |  | 4,775 |  | (13,878)
Tax (expense) benefit |  | 12,575 |  | (1,299) |  | 3,757
Net of tax amount (2) |  | (39,770) |  | 3,476 |  | (10,121)
| (1) |  | As of December 31, 2016, 2017 and 2018, realized gains reclassified to the income statement line item “Net financial operating income” amounted to Ch$64,011 million, Ch$5,149 million and Ch$400 million, respectively.
This amount corresponds to the unrealized gain or loss, net of deferred tax and which are included in “Consolidated Statement of Changes in Equity”.
Debt instruments valued at fair value |
Financial Assets Available-for-Sale and Financial Assets at Fair Value through Other Comprehensive Income |
Schedule of change in gross carrying amount and ECL allowances | (b.3) Analysis of changes in the fair value of debt instrument is, as follows:
|  | 2018
|  | Stage 1 |  | Stage 2 |  | Stage 3 |  |
|  | Individual |  | Individual |  | Individual |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
Gross Carrying amount as at 1 January 2018 |  | 1,516,063 |  | — |  | — |  | 1,516,063
Net change on gross carrying amount* |  | (515,343) |  | — |  | — |  | (515,343)
Change in fair value |  | 14,162 |  | — |  | — |  | 14,162
Transfer to Stage 1 |  | — |  | — |  | — |  | —
Transfer to Stage 2 |  | — |  | — |  | — |  | —
Transfer to Stage 3 |  | — |  | — |  | — |  | —
Amounts written off |  | — |  | — |  | — |  | —
Foreign exchange adjustments |  | 28,558 |  | — |  | — |  | 28,558
Total |  | 1,043,440 |  | — |  | — |  | 1,043,440
* Net allowance change between assets originated and assets repaid, excluding write-offs. (b.4) Analysis of changes in the corresponding ECLs of debt instrument is, as follows:
|  | 2018
|  | Stage 1 |  | Stage 2 |  | Stage 3 |  |
|  | Individual |  | Individual |  | Individual |  | Total
|  | MCh$ |  | MCh$ |  | MCh$ |  | MCh$
ECL allowances as at 1 January 2018 |  | 5,820 |  | — |  | — |  | 5,820
Net change on ECL allowances * |  | (1,978) |  | — |  | — |  | (1,978)
Transfer to Stage 1 |  | — |  | — |  | — |  | —
Transfer to Stage 2 |  | — |  | — |  | — |  | —
Transfer to Stage 3 |  | — |  | — |  | — |  | —
Impact on year end ECL of exposures transferred between stages during the year ** |  | — |  | — |  | — |  | —
Impact of net re-measurement of year end ECL |  | 258 |  | — |  | — |  | 258
Amounts written off |  | — |  | — |  | — |  | —
Foreign exchange adjustments |  | 168 |  | — |  | — |  | 168
Total |  | 4,268 |  | — |  | — |  | 4,268
* Net allowance change between assets originated and assets repaid, excluding write-offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year.

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