Cash and Cash Equivalents (Tables)

12 Months Ended

Dec. 31, 2022

Cash and Cash Equivalents [Abstract]

Schedule of reconciliation of cash and cash equivalents to statement of cash flows

	2022		2021
	MCh$		MCh$
Cash and due from banks:
Cash (*)		947,669		1,073,601
Deposit in Chilean Central Bank (*)		384,230		1,545,472
Deposits in domestic banks		116,541		129,858
Deposits in abroad banks		1,316,444		964,803
Subtotal - Cash and due from banks		2,764,884		3,713,734
Net transactions in the course of settlement (**)		90,404		115,967
Others cash equivalents (***)		296,840		165,423
Total cash and cash equivalents		3,152,128		3,995,124

(*) 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 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.

Schedule of transactions in the course of collection

	2022			2021
	MCh$			MCh$
Assets
Documents drawn on other banks (clearing)		94,675			123,051
Funds receivable		677,521			203,395
Subtotal - assets		772,196			326,446
Liabilities
Funds payable		(681,792	)		(210,479	)
Subtotal - liabilities		(681,792	)		(210,479	)
Net transactions in the course of settlement		90,404			115,967

(*) 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 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.