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Investments Under Resale Agreements and Obligations Under Repurchase Agreements

12 Months Ended

Dec. 31, 2020

Disclosure of repurchase and reverse repurchase agreements [text block] [Abstract]

Investments under resale agreements and obligations under repurchase agreements

Investments under Resale Agreements and Obligations under Repurchase Agreements:

(a)

Rights arising from resale repurchase agreements: The Bank provides financing to its customers through Repurchase Agreements and securities lending, in which the financial instrument serves as collateral. As of December 31, 2019 and 2020, the Bank has the following receivables resulting from such transactions:

	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
	2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Instruments issued by the Chilean Governments and Central Bank of Chile
Central Bank bonds		11,184		—		—		—		—		—		—		—		—		—		—		—		11,184		—
Central Bank promissory notes		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Other instruments issued by the Chilean Government and Central Bank		18,459		10,006		—		—		—		—		—		—		—		—		—		—		18,459		10,006
Subtotal		29,643		10,006		—		—		—		—		—		—		—		—		—		—		29,643		10,006
Other Instruments issued in Chile
Deposit promissory notes from domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Mortgage bonds from domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Bonds from domestic banks		15,407		—		—		—		—		—		—		—		—		—		—		—		15,407		—
Deposits in domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Bonds from other Chilean companies		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Other instruments issued in Chile		57,007		29,089		29,393		20,591		10,879		16,721		—		—		—		—		—		—		97,279		66,401
Subtotal		72,414		29,089		29,393		20,591		10,879		16,721		—		—		—		—		—		—		112,686		66,401
Instruments issued by foreign institutions
Instruments from foreign governments or Central Bank		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Other instruments		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Total		102,057		39,095		29,393		20,591		10,879		16,721		—		—		—		—		—		—		142,329		76,407

Securities received:

As part of investments under resale agreements the Bank has received securities that it is allowed to sell or give as collateral in case the owner of these instruments enters into default or in bankruptcy. As of December 31, 2020 the Bank held securities with a fair value of Ch$82,585 million (Ch$142,370 million in 2019).

(b)

Obligations arising from repurchase agreements: The Bank obtains financing by selling financial instruments and agreeing to repurchase them in the future, plus interest at a prefixed rate. As of December 31, 2019 and 2020, the repurchase agreements are the following:

	Up to 1 month				Over 1 month and up to 3 months				Over 3 months and up to 12 m nths				Over 1 year and up to 3 years				Over 3 years and up to 5 years				Over 5 years				Total
	2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020		2019		2020
	MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$		MCh$
Instruments issued by the Chilean Governments and Central Bank of Chile
Central Bank bonds		7,301		—		—		—		—		—		—		—		—		—		—		—		7,301		—
Central Bank promissory notes		9,067		183,083		—		—		—		—		—		—		—		—		—		—		9,067		183,083
Other instruments issued by the Chilean Government and Central Bank		—		47,763		—		—		—		—		—		—		—		—		—		—		—		47,763
Subtotal		16,368		230,846		—		—		—		—		—		—		—		—		—		—		16,368		230,846
Other Instruments issued in Chile
Deposit promissory notes from domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Mortgage bonds from domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Bonds from domestic banks		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Deposits in domestic banks		280,696		57,648		8,583		43		—		—		—		—		—		—		—		—		289,279		57,691
Bonds from other Chilean companies		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Other instruments issued in Chile		1,647		380		—		—		1,440		—		—		—		—		—		—		—		3,087		380
Subtotal		282,343		58,028		8,583		43		1,440		—		—		—		—		—		—		—		292,366		58,071
Instruments issued by foreign institutions
Instruments from foreign governments or central bank		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Other instruments issued by foreign		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Subtotal		—		—		—		—		—		—		—		—		—		—		—		—		—		—
Total		298,711		288,874		8,583		43		1,440		—		—		—		—		—		—		—		308,734		288,917

Securities sold:

The fair value of the financial instruments delivered as collateral by the Bank and its subsidiaries, in sales transactions with repurchase agreements and securities lending as of December 31, 2020 amounts to Ch$288,523 million (Ch$305,593 million in December 2019). In the event that the Bank and its subsidiaries enter into default or bankruptcy, the counterparty is authorized to sell or deliver these investments as collateral.