Cash and Cash Equivalents

12 Months Ended

Dec. 31, 2020

Cash and cash equivalents [abstract]

CASH AND CASH EQUIVALENTS

NOTE 04

CASH AND CASH EQUIVALENTS

a) The detail of the balances included under cash and cash equivalents is as follows:

	As of December 31,
	2020 MCh$		2019 MCh$
Cash and deposits in banks
Cash		665,397		861,178
Deposits at the Central Bank of Chile		1,313,394		1,731,079
Deposits in local banks		1,571		948
Deposits in banks abroad		822,926		961,315
Subtotals – Cash and deposits in banks		2,803,288		3,554,520
Net cash items in process of collection		91,332		156,814
Cash and cash equivalents		2,894,620		3,711,334

The balance of funds held in cash and at the Central Bank of Chile reflects the monthly average that the Bank must maintain in accordance with the regulations governing minimum reserves although the balance can be withdrawn on demand.

b) Cash in process of collection and in process of being cleared:

Cash items in process of collection and in process of being cleared represent domestic transactions which have not been processed through the central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences. These transactions were as follows:

	As of December 31,
	2020 MCh$		2019 MCh$
Assets
Documents held by other banks (documents to be cleared)		137,396		217,394
Funds receivable		315,567		137,668
Subtotal		452,963		355,062
Liabilities
Funds payable		361,631		198,248
Subtotal		361,631		198,248
Cash in process of collection, net		91,332		156,814