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Loans and Accounts Receivable at Fair Value Through Other Comprehensive Income
 12 Months Ended
Dec. 31, 2021
Loans And Account Receivable At Fair Value Through Other Comprehensive Income [Abstract]  
LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

NOTE 10

LOANS AND ACCOUNTS RECEIVABLE AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

 

The Bank classifies certain loans at fair value through other comprehensive income (FVOCI), when a loan exceeds single client exposure under the Bank's credit risk policy. Initially, the risk committee approved the full operation but with the condition to sell a portion of the loan in the medium term.

 

Additionally, the Bank includes operations that expect to sell, for which an increase of the credit risk has been identified.

 

This portfolio is measured at fair value, recognizing the adjustment in other comprehensive income. The portfolio is assessed for impairment loss under the ECL model, same as loans at amortized cost.

 

An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as of December 31, 2021 is as follows:

 

   Stage1   Stage2   Stage3   TOTAL 
   MCh$   MCh$   MCh$   MCh$ 
Gross carrying amount at January 1, 2021   70,685    
-
    
-
    70,685 
Transfers                    
Transfers to stage 1   
-
    
-
    
-
    
-
 
Transfers to stage 2   
-
    
-
    
-
    
-
 
Transfers to stage 3   
-
    
-
    
-
    
-
 
Net changes on financial assets   36,428    
-
    
-
    36,428 
Write-off   
-
    
-
    
-
    
-
 
FX and other adjustments   (7,470)   
-
    
-
    (7,470)
At December 31, 2021   99,643    
-
    
-
    99,643 

 

   Stage 1   Stage 2   Stage 3   TOTAL 
   MCh$   MCh$   MCh$   MCh$ 
ECL allowance at January 1, 2021   1,354    
-
    
-
    1,354 
Transfers                    
Transfers to stage 1   
-
    
-
    
-
    
-
 
Transfers to stage 2   
-
    
-
    
-
    
-
 
Transfers to stage 3   
-
    
-
    
-
    
-
 
Net changes of the exposure and modifications in the credit risk   (1,086)   
-
    
-
    (1,086)
Write-off   
-
    
-
    
-
    
-
 
FX and other adjustments   
-
    
-
    
-
    
-
 
At December 31, 2021   268    
-
    
-
    268 

 

An analysis of changes in the gross carrying amount and the corresponding ECL allowance is, as of December 31, 2020 is as follows:

 

   Stage1   Stage2   Stage3   TOTAL 
   MCh$   MCh$   MCh$   MCh$ 
Gross carrying amount at January 1, 2020   66,166    
-
    
-
    66,166 
Transfers                    
Transfers to stage 1   
-
    
-
    
-
    
-
 
Transfers to stage 2   
-
    
-
    
-
    
-
 
Transfers to stage 3   
-
    
-
    
-
    
-
 
Net changes on financial assets   3,857    
-
    
-
    3,857 
Write-off   
-
    
-
    
-
    
-
 
FX and other adjustments   662    
-
    
-
    662 
At December 31, 2020   70,685    
-
    
-
    70,685 

 

   Stage 1   Stage 2   Stage 3   TOTAL 
   MCh$   MCh$   MCh$   MCh$ 
ECL allowance at January 1, 2020   101    
-
    
-
    101 
Transfers                    
Transfers to stage 1   
-
    
-
    
-
    
-
 
Transfers to stage 2   
-
    
-
    
-
    
-
 
Transfers to stage 3   
-
    
-
    
-
    
-
 
Net changes of the exposure and modifications in the credit risk   1,252    
-
    
-
    1,252 
Write-off   
-
    
-
    
-
    
-
 
FX and other adjustments   1    
-
    
-
    1 
At December 31, 2020   1,354    
-
    
-
    1,354