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Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2023

Cash and Cash Equivalents [Abstract]

7.	Cash and Cash Equivalents:

Details of cash and cash equivalents and its reconciliation to the Statement of Cash Flows at each year-end are as follows:

	2023		2022
	MCh$		MCh$
Cash and due from banks:
Cash (*)		929,034		947,669
Deposit in Chilean Central Bank (*)		590,426		384,230
Deposits in domestic banks		17,052		116,541
Deposits in abroad banks		928,136		1,316,444
Subtotal - Cash and due from banks		2,464,648		2,764,884

Net transactions in the course of settlement (**)		58,634		90,404
Others cash equivalents (***)		467,750		296,840
Total cash and cash equivalents		2,991,032		3,152,128

The detail of the balances included under net ongoing clearance operations is as follows:

	2023			2022
	MCh$			MCh$
Assets
Documents drawn on other banks (clearing)		84,635			94,675
Funds receivable		330,870			677,521
Subtotal transactions in the course of collection		415,505			772,196

Liabilities
Funds payable		(356,871	)		(681,792	)
Subtotal transactions in the course of payments		(356,871	)		(681,792	)
Net transactions in the course of settlement		58,634			90,404

(*)

The level of funds in cash and in the Central Bank of Chile responds to regulations on reserve requirements that the bank must maintain on average in monthly periods.

(**)

Ongoing clearance operations correspond to transactions in which only the settlement remains that will increase or decrease the funds in the Central Bank of Chile or in local and foreign banks, normally within 12 or 24 business hours.

(***)

Refers to financial instruments that meet the criteria to be considered as “cash equivalents” as defined by IAS 7, i.e., to qualify as “cash equivalents” investments in debt financial instruments must be: short-term with an original maturity of 90 days or less from the date of acquisition, highly liquid, readily convertible to known amounts of cash from the date of initial investment, and that the financial instruments are exposed to an insignificant risk of changes in their value.