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Borrowings from Financial Institutions | 12 Months Ended
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Dec. 31, 2020
Disclosure of borrowings [text block] [Abstract] |
Borrowings from Financial Institutions |
| 21. | Borrowings from Financial Institutions:
As of December 31, 2019 and 2020, borrowings from financial institutions are detailed as follows:
|  | 2019 |  |  | 2020 |
|  | MCh$ |  |  | MCh$ |
Domestic banks |  |  |  |  |  |  |  |
Banco do Brasil |  |  | 3,900 |  |  |  | 7,100 |
Banco Scotiabank |  |  | — |  |  |  | 1,257 |
Banco Santander |  |  | 2,314 |  |  |  | — |
Subtotal domestic banks |  |  | 6,214 |  |  |  | 8,357 |
Foreign banks |  |  |  |  |  |  |  |
Foreign trade financing |  |  |  |  |  |  |  |
The Bank of Nova Scotia |  |  | 133,539 |  |  |  | 121,085 |
Citibank N.A. United State |  |  | 285,974 |  |  |  | 114,525 |
Wells Fargo Bank |  |  | 139,845 |  |  |  | 85,734 |
Zürcher Kantonalbank |  |  | 78,872 |  |  |  | 39,116 |
Commerzbank AG |  |  | 2,201 |  |  |  | 21,687 |
Bank of New York Mellon |  |  | 224,812 |  |  |  | 21,389 |
Bank of America |  |  | 194,704 |  |  |  | 20,475 |
Sumitomo Mitsui Banking |  |  | 213,534 |  |  |  | 11,394 |
Standard Chartered Bank |  |  | 70,128 |  |  |  | 715 |
Toronto Dominion Bank |  |  | 22,556 |  |  |  | — |
JP Morgan Chase Bank |  |  | 60,150 |  |  |  | — |
ING Bank |  |  | 10,987 |  |  |  | — |
Others |  |  | 89 |  |  |  | 40 |
Borrowings and other obligations |  |  |  |  |  |  |  |
Wells Fargo Bank |  |  | 113,377 |  |  |  | 106,965 |
Deutsche Bank Trust Company Americas |  |  | 6 |  |  |  | 7,333 |
Citibank N.A. United States |  |  | 5,183 |  |  |  | — |
Citibank N.A. United Kingdom |  |  | 1,015 |  |  |  | 233 |
Others |  |  | 91 |  |  |  | 105 |
Subtotal foreign banks |  |  | 1,557,063 |  |  |  | 550,796 |
Central Bank of Chile (*) |  |  | — |  |  |  | 3,110,600 |
Total |  |  | 1,563,277 |  |  |  | 3,669,753 |
| (*) | Financing provided by the Central Bank of Chile to deliver liquidity to the economy and support the flow of credit to households and companies, among which are the Loan Increase Conditional Credit Facility program (FCIC by its Spanish initials) and the Liquidity Credit Line (LCL).
The limit for the FCIC line is up to 15% of the base portfolio (sum of commercial and consumer loans), which was expanded with the establishment of a second program announced during the month of June called FCIC2 with similar financial conditions to the first, aimed at deepening and extending commercial credit to respond to the prolongation of the health emergency caused by COVID-19. As of December 31, the Bank has made use of these financing facilities for an amount of Ch$3,110,600 million. To access the FCIC, the Bank has established guarantees in favor of the Central Bank of Chile for a total amount of approximately Ch$2,371,842 million, corresponding to commercial loans of the individual portfolio of high credit quality for Ch$2,021,688 million, and fixed income securities for an approximate amount of Ch$350,154 million. In the case of the LCL, the guarantee provided corresponds to the legal banking reserve held by the Bank.

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