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Financial Liabilities for Trading at Fair Value through Profit or Loss

12 Months Ended

Dec. 31, 2022

Financial Liabilities for Trading at Fair Value through Profit or Loss [Abstract]

FINANCIAL LIABILITIES FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS

NOTE 16 - FINANCIAL LIABILITIES FOR TRADING AT FAIR VALUE THROUGH PROFIT OR LOSS

A financial liability is classified as a financial liability at fair value through profit or loss if is held for trading or it is designated by the entity as at fair value through profit or loss (under specified conditions). The Bank has not designated financial liabilities at FVPL.

A financial liability is held for trading if it is incurred principally for the purpose of repurchasing it in the near term or it is a derivative. The Bank only has derivatives under this classification, whose purpose is to hedge the exchange rate and interest rate risk related to future obligations.

		As of December 31,
		2022				2021
		MCh$				MCh$
Financial derivative contracts
Forwards			1,818,024				1,199,062
Swaps			9,497,035				8,305,894
Call Options			2,794				1,137
Put Options			1,467				938
Total			11,319,320				9,507,031

As of December 31, 2022 and 2021 the Bank holds the following portfolio of financial liabilities derivative contracts:

		As of December 31, 2022
		Notional amount
		On Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total				Fair value
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Currency forward			-				10,130,103				7,474,471				10,559,457				4,725,547				1,913,113				2,034,929				36,837,620				1,818,024
Interest rate swaps			-				4,042,822				9,226,258				26,018,228				25,470,384				11,344,275				15,274,620				91,376,587				3,935,401
Cross currency swaps			-				726,140				1,580,644				5,192,387				18,051,948				10,879,098				20,229,246				56,659,463				5,561,634
Call currency options			-				289,795				70,941				10,365				-				-				-				371,101				2,794
Put currency options			-				68,099				11,304				27,612				-				-				-				107,015				1,467
Total			-				15,256,959				18,363,618				41,808,049				48,247,879				24,136,486				37,538,795				185,351,786				11,319,320

		As of December 31, 2021
		Notional amount
		On Demand				Up to 1 month				Between 1 and 3 months				Between 3 and 12 months				Between 1 and 3 years				Between 3 and 5 years				More than 5 years				Total				Fair value
		MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$				MCh$
Currency forward			-				5,369,842				4,957,261				6,398,764				3,301,424				2,119,432				1,952,222				24,098,945				1,199,062
Interest rate swaps			-				1,131,174				5,367,798				13,652,696				19,103,274				12,988,788				20,012,086				72,255,816				2,997,634
Cross currency swaps			-				659,937				1,408,678				7,215,300				22,141,245				23,952,436				36,666,238				92,043,834				5,308,260
Call currency options			-				3,101				6,284				9,458				427				-				-				19,270				1,137
Put currency options			-				3,023				16,476				166,365				-				-				-				185,864				938
Total			-				7,167,077				11,756,497				27,442,583				44,546,370				39,060,656				58,630,546				188,603,729				9,507,031