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OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2018
Other Liabilities  
OTHER LIABILITIES

NOTE 23 

OTHER LIABILITIES 

 

The other liabilities line item is as follows: 

 

    As of December 31,
    2018   2017
    MCh$   MCh$
         
Accounts and notes payable   163,216   196,965
Unearned income   673   601
Valuation adjustments by macrohedges   7,039   -
Guarantees received (margin accounts) (1)   540,091   408,313
Notes payable through brokerage and simultaneous transactions   50,807   17,799
Other payable obligations (2)   94,779   58,921
Withheld VAT   1,990   1,887
Other liabilities (3)   41,812   60,877
         
Total   900,407   745,363

  

(1) Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral.

(2) Other payable obligations mainly relates to settlement of derivatives and other financial transactions derived from the operation of the Bank.

(3) Other liabilities: mainly include reimbursement of insurance commissions.