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Borrowings from Financial Institutions

12 Months Ended

Dec. 31, 2020

Disclosure of borrowings [text block] [Abstract]

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.