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Debt Instruments at Fair Value Through Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2019
Debt Instruments At Fair Value Through Other Comprehensive Income |
DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME | NOTE 11 DEBT INSTRUMENTS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME As of December 31, 2019 detail of debt instruments is as follows:
|  | As of December 31, |
|  | 2019 |  |  | 2018 |
|  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |
Chilean central bank bonds |  |  | 272,802 |  |  |  | 657,096 |
Chilean central bank notes |  |  | 1,186,724 |  |  |  | 56,719 |
Other Chilean central bank and government securities |  |  | 1,908,031 |  |  |  | 1,207,221 |
Subtotal |  |  | 3,367,557 |  |  |  | 1,921,036 |
of which sold under repurchase agreement |  |  | 379,294 |  |  |  | 16,109 |
Other Chilean securities |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 398 |  |  |  | 2,693 |
Mortgage finance bonds of Chilean financial institutions |  |  | 16,748 |  |  |  | 19,227 |
Other instruments issued in the country |  |  | 2,410 |  |  |  | 2,907 |
Subtotal |  |  | 19,556 |  |  |  | 24,827 |
of which sold under repurchase agreement |  |  | 131 |  |  |  | 128 |
Foreign financial securities |  |  |  |  |  |  |  |
Foreign Central Banks and Government securities |  |  | 197,685 |  |  |  | 280,622 |
Other foreign financial securities |  |  | 425,474 |  |  |  | 167,838 |
Subtotal |  |  | 623,159 |  |  |  | 448,460 |
of which sold under repurchase agreement |  |  | - |  |  |  | - |
Total |  |  | 4,010,272 |  |  |  | 2,394,323 |
As of December 31, 2019 "Chilean central bank and government securities" guarantee derivatives transactions through Comder Contraparte Central S,A, in the local market as of December 31, 2019 and 2018 Ch$65,140 and Ch$42,910, while "Foreign financial securities" guarantee derivatives transactions through London Clearing House (LCH) as of December 31, 2019 and 2018 Ch$73,109 and Ch$58,892. Additionally, the Bank maintains guarantees with Euroclear as of December 31, 2019 and 2018 Ch$390,954 and Ch$98,832 to comply with the initial margin required by European EMIR standard. As of December 31, 2019 fair value through OCI included a cumulative net unrealised income of Ch$29,184 million, recoded as "valuation adjustment" in OCI, of which Ch$28,135 million are attributable to shareholders and Ch$1,049 million to non-controlling interest. An analysis of changes in the fair value and the corresponding ECL as of December 31, 2019 is as follows:
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
Gross carrying amount at January 1, 2019 |  |  | 2,394,323 |  |  |  | - |  |  |  | - |  |  |  | 2,394,323 |
New assets purchased |  |  | 7,573,665 |  |  |  | - |  |  |  | - |  |  |  | 7,573,665 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (5,694,456 | ) |  |  | - |  |  |  | - |  |  |  | (5,694,456 | )
Changes due to modifications not derecognised |  |  | 394,648 |  |  |  | - |  |  |  | - |  |  |  | 394,648 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | (657,908 | ) |  |  | - |  |  |  | - |  |  |  | (657,908 | )
At December 31, 2019 |  |  | 4,010,272 |  |  |  | - |  |  |  | - |  |  |  | 4,010,272 |
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
ECL at January 1, 2019 |  |  | 258 |  |  |  | - |  |  |  | - |  |  |  | 258 |
New assets purchased |  |  | 816 |  |  |  | - |  |  |  | - |  |  |  | 816 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (614 | ) |  |  | - |  |  |  | - |  |  |  | (614 | )
Changes due to modifications not derecognised |  |  | 67 |  |  |  | - |  |  |  | - |  |  |  | 67 |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | (71 | ) |  |  | - |  |  |  | - |  |  |  | (71 | )
At December 31, 2019 |  |  | 456 |  |  |  | - |  |  |  | - |  |  |  | 456 |
An analysis of changes in the fair value and the corresponding ECL as of December 31, 2018 is as follows:
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
Gross carrying amount at January 1, 2018 |  |  | 2,574,546 |  |  |  | - |  |  |  | - |  |  |  | 2,574,546 |
New assets purchased |  |  | 5,037,857 |  |  |  | - |  |  |  | - |  |  |  | 5,037,857 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (5,604,114 | ) |  |  | - |  |  |  | - |  |  |  | (5,604,114 | )
Changes due to modifications not derecognised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | 386,034 |  |  |  | - |  |  |  | - |  |  |  | 386,034 |
At December 31, 2018 |  |  | 2,394,323 |  |  |  | - |  |  |  | - |  |  |  | 2,394,323 |
|  | Stage1 |  |  | Stage2 |  |  | Stage3 |  |  |  |
|  | Collective |  |  | Collective |  |  | Collective |  |  | TOTAL |
ECL at January 1, 2018 |  |  | 324 |  |  |  | - |  |  |  | - |  |  |  | 324 |
New assets purchased |  |  | 634 |  |  |  | - |  |  |  | - |  |  |  | 634 |
Transfers to stage 1 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Transfers to stage 3 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Assets derecognised or matured (excluding write offs) |  |  | (705 | ) |  |  | - |  |  |  | - |  |  |  | (705 | )
Changes due to modifications not derecognised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Write-off |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Foreign Exchange adjustments and others |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 5 |
At December 31, 2018 |  |  | 258 |  |  |  | - |  |  |  | - |  |  |  | 258 |
Gross profits and losses realized on the sale of available for sale investments as of December 31, 2019, 2018 and 2017 is as follows:
|  | As of December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Sale of available for sale investments generating realized profits |  |  | 5,781,636 |  |  |  | 3,505,266 |  |  |  | 6,469,344 |
Realized profits |  |  | 63,828 |  |  |  | 8,802 |  |  |  | 4,867 |
Sale of available for sale investments generating realized losses |  |  | 607,349 |  |  |  | 709,371 |  |  |  | 466,732 |
Realized losses |  |  | 156 |  |  |  | 6,004 |  |  |  | 3 |
The Bank evaluated those instruments with unrealized losses as of December 31, 2019 and 2018 and concluded they were not impaired. This review consisted of evaluating the economic reasons for any declines, the credit ratings of the securities' issuers, and the Bank's intention and ability to hold the securities until the unrealized loss is recovered. Based on this analysis, the Bank believes that there were no significant or prolonged declines nor changes in credit risk which would cause impairment in its investment portfolio, since most of the decline in fair value of these instruments was caused by market conditions which the Bank considers to be temporary. All of the instruments that have unrealized losses as of December 31, 2019 and 2018, were not in a continuing unrealized loss position for more than one year. The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2019:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chilean central bank Bonds |  |  | 270,979 |  |  |  | 272,802 |  |  |  | 3,600 |  |  |  | (1,777 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 270,979 |  |  |  | 272,802 |  |  |  | 3,600 |  |  |  | (1,777 | )
Chilean central bank notes |  |  | 1,186,487 |  |  |  | 1,186,724 |  |  |  | 237 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,186,487 |  |  |  | 1,186,724 |  |  |  | 237 |  |  |  | - |
Other Chilean central bank and government securities |  |  | 1,895,367 |  |  |  | 1,908,031 |  |  |  | 38,002 |  |  |  | (25,338 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,895,367 |  |  |  | 1,908,031 |  |  |  | 38,002 |  |  |  | (25,338 | )
Subtotal |  |  | 3,352,833 |  |  |  | 3,367,557 |  |  |  | 41,839 |  |  |  | (27,115 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,352,833 |  |  |  | 3,367,557 |  |  |  | 41,839 |  |  |  | (27,115 | )
Other Chilean securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 398 |  |  |  | 398 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 398 |  |  |  | 398 |  |  |  | - |  |  |  | - |
Mortgage finance bonds of Chilean financial institutions |  |  | 15,962 |  |  |  | 16,748 |  |  |  | 786 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 15,962 |  |  |  | 16,748 |  |  |  | 786 |  |  |  | - |
Chilean financial institution bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Chilean corporate bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other Chilean securities |  |  | 407 |  |  |  | 2,410 |  |  |  | 2,003 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 407 |  |  |  | 2,410 |  |  |  | 2,003 |  |  |  | - |
Subtotal |  |  | 16,767 |  |  |  | 19,556 |  |  |  | 2,789 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 16,767 |  |  |  | 19,556 |  |  |  | 2,789 |  |  |  | - |
Foreign financial securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign central banks and government securities |  |  | 198,020 |  |  |  | 197,685 |  |  |  | 11,110 |  |  |  | (11,445 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 198,020 |  |  |  | 197,685 |  |  |  | 11,110 |  |  |  | (11,445 | )
Other foreign financial securities |  |  | 413,468 |  |  |  | 425,474 |  |  |  | 13,080 |  |  |  | (1,074 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 413,468 |  |  |  | 425,474 |  |  |  | 13,080 |  |  |  | (1,074 | )
Subtotal |  |  | 611,488 |  |  |  | 623,159 |  |  |  | 24,190 |  |  |  | (12,519 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 611,488 |  |  |  | 623,159 |  |  |  | 24,190 |  |  |  | (12,519 | )
Total |  |  | 3,981,088 |  |  |  | 4,010,272 |  |  |  | 68,818 |  |  |  | (39,634 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,981,088 |  |  |  | 4,010,272 |  |  |  | 68,818 |  |  |  | (39,634 | )
The following charts show debt instruments at fair value through other comprehensive income cumulative unrealized profit and loss, as of December 31, 2018:
|  | Less than 12 months |  |  | More than 12 months |  |  | Total |
|  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized los |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |  |  | Amortized cost |  |  | Fair value |  |  | Unrealized profit |  |  | Unrealized loss |
|  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |  |  | MCh$ |
Chilean central bank and government securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chilean central bank Bonds |  |  | 658,013 |  |  |  | 657,096 |  |  |  | 3,698 |  |  |  | (4,615 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 658,013 |  |  |  | 657,096 |  |  |  | 3,698 |  |  |  | (4,615 | )
Chilean central bank notes |  |  | 56,737 |  |  |  | 56,719 |  |  |  | 10 |  |  |  | (27 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 56,737 |  |  |  | 56,719 |  |  |  | 10 |  |  |  | (27 | )
Other Chilean central bank and government securities |  |  | 1,196,819 |  |  |  | 1,207,220 |  |  |  | 10,689 |  |  |  | (262 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,196,819 |  |  |  | 1,207,220 |  |  |  | 10,689 |  |  |  | (262 | )
Subtotal |  |  | 1,911,569 |  |  |  | 1,921,035 |  |  |  | 14,397 |  |  |  | (4,904 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,911,569 |  |  |  | 1,921,035 |  |  |  | 14,397 |  |  |  | (4,904 | )
Other Chilean securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits in Chilean financial institutions |  |  | 2,691 |  |  |  | 2,693 |  |  |  | 1 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,691 |  |  |  | 2,693 |  |  |  | 1 |  |  |  | - |
Mortgage finance bonds of Chilean financial institutions |  |  | 19,010 |  |  |  | 19,227 |  |  |  | 426 |  |  |  | (209 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 19,010 |  |  |  | 19,227 |  |  |  | 426 |  |  |  | (209 | )
Chilean financial institution bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Chilean corporate bonds |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Other Chilean securities |  |  | 220 |  |  |  | 2,907 |  |  |  | 2,687 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 220 |  |  |  | 2,907 |  |  |  | 2,687 |  |  |  | - |
Subtotal |  |  | 21,921 |  |  |  | 24,827 |  |  |  | 3,114 |  |  |  | (209 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 21,921 |  |  |  | 24,827 |  |  |  | 3,114 |  |  |  | (209 | )
Foreign financial securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign central banks and government securities |  |  | 280,021 |  |  |  | 280,622 |  |  |  | 602 |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 280,021 |  |  |  | 280,622 |  |  |  | 602 |  |  |  | - |
Other foreign financial securities |  |  | 174,387 |  |  |  | 167,837 |  |  |  | - |  |  |  | (6,575 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 174,387 |  |  |  | 167,837 |  |  |  | - |  |  |  | (6,575 | )
Subtotal |  |  | 454,408 |  |  |  | 448,459 |  |  |  | 602 |  |  |  | (6,575 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 454,408 |  |  |  | 448,459 |  |  |  | 602 |  |  |  | (6,575 | )
Total |  |  | 2,387,898 |  |  |  | 2,394,322 |  |  |  | 18,112 |  |  |  | (11,688 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,387,898 |  |  |  | 2,394,322 |  |  |  | 18,112 |  |  |  | (11,688 | )

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- References No definition available. + Details
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Namespace Prefix: | bsac_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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- Definition The disclosure of financial assets classified as available for sale. [Refer: Financial assets available-for-sale] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2021-01-01 -Name IAS -Number 1 -IssueDate 2019-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2017-en-b&anchor=para_10_e&doctype=Standard&forcepdf=true -URIDate 2019-03-27 + Details
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Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration