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18. Marketable debt securities
 12 Months Ended
Dec. 31, 2020
Marketable Debt Securities  
18. Marketable debt securities
18.Marketable debt securities

 

The breakdown, by classification and type, of the balance of “Marketable debt securities” is as follows:

 

Thousand of reais           2020 2019 2018
                 
Classification:                
Financial liabilities at amortized cost           56,875,514 73,702,474 74,626,232
Total           56,875,514 73,702,474 74,626,232
                 
Type:                
Real estate credit notes - LCI (1)           18,846,138 21,266,079 27,159,982
Eurobonds           9,399,277 8,715,382 4,516,647
Treasury Bills (2)           12,749,911 27,587,340 30,721,206
Agribusiness credit notes - LCA           14,746,831 14,776,877 11,925,018
Guaranteed Real Estate Credit Notes (3)           1,133,356 1,356,796 303,379
Total           56,875,514 73,702,474 74,626,232

(1) Real Estate Credit Notes are fixed income securities pegged by mortgages and mortgage-backed securities or liens on property. On December 31, 2020, have maturities between 2021 and 2027 (2019 – maturities between 2020 and 2026 and 2018 – maturities between 2019 and 2026).

(2) The main features of the Treasury Bills are the minimum period of two years, minimum notional of R$50 and permission for early redemption of only 5% of the issued amount, On December 31, 2020, have a maturity between 2021 to 2025 (2019 – maturities between 2020 and 2025 and 2018 – maturities between 2019 and 2025).

(3) Guaranteed Real Estate Letters are real estate investment securities guaranteed by the issuer and by a pool of real estate credits separated from the other assets of the issuer, As of December 31, 2020, maturity until 2021 and 2023 (12/31/2019 - have a maturity between 2021 e 2022).

 

Indexers:             Domestic Abroad
                 
Treasury Bills             100% to 112% of CDI  -
               100% of IGPM  -
               100% of IPCA  -
               Pre fixed: 3.41% to 16.97%  -
               104.75% of SELIC  -
Real estate credit notes - LCI              80% to 102.5% of CDI  -
               Pre fixed: 2.4% of 10.33%  -
               1.5 to 1.7% of IPCA  -
               1.65% of TR  -
Agribusiness credit notes - LCA              85% to 102,5% of CDI  -
Guaranteed Real Estate Credit Notes - LIG            94% to 98% of CDI  
Eurobonds             -  0.0% to 10%
              -  CDI+6.4%

 

The breakdown, by currency, of the balance of this account is as follows:

 

Thousand of reais          
Currency:         2020 2019 2018
               
Real         47,490,706 64,987,092 70,109,585
US dollar         9,384,808 8,715,382 4,516,647
Total         56,875,514 73,702,474 74,626,232
               
          Average interest (%)
Currency:         2020 2019 2018
               
Real         2.5% 5.0% 5.5%
US dollar         5.2% 4.1% 5.9%
Total         3.9% 4.5% 5.6%

 

The variations in the balance “Obligations for bonds and securities” were as follows:

 

Thousand of reais                 2020 2019 2018
                       
Balance at beginning of year                 73,702,474 74,626,232 70,247,012
Issuances                 60,047,656 53,017,039 73,765,081
Payments                 (82,900,914) (61,914,716) (78,903,009)
Taxes (note 32)                 2,785,942 5,138,306 4,606,949
Exchange variation and others (1)               3,240,356 2,835,613 4,910,199
Balance at the end of the year                 56,875,514 73,702,474 74,626,232

(1) In 2020, the Foreign Exchange Variation linked to “Bonds and Securities” is related to Eurobonds.

 

 

On December 31, 2020, 2019 and 2018, none of these instruments was convertible into Bank shares or granted privileges or rights which, in certain circumstances, make them convertible into shares. The note 43-d contains a detail of the residual maturity periods of financial liabilities at amortized cost in each year.

 

The breakdown of "Bonds and other securities" is as follows:

          Interest rate (p,y)      
  Issuance Maturity   Currency 2020 2019 2018
                 
Eurobonds 2017 2019   USD LIBOR 3M + 1.00% - - 194,243
Eurobonds 2017 2021   BRL 4.4% 14,469 63,181 855,035
Eurobonds 2017 2024   USD 2.4% to 10.0% 853,929 664,996 19,386
Eurobonds 2018 2019   USD Zero Coupon to 9% - - 197,055
Eurobonds 2018 2019   USD LIBOR 3M + 0.95% - - 34,776
Eurobonds 2018 2020   USD Up to 3.5% - 37,476 1,211,361
Eurobonds 2018 2019   USD LIBOR 1M + 1.5% - - 1,287,821
Eurobonds 2017 2020   BRL 4.4% - 929,042 639,275
Eurobonds 2018 2020   USD Above 3.5% - 35,438 -
Eurobonds 2018 2024   USD 6.6% to 6.7% 1,625,192 1,260,099 -
Eurobonds 2018 2025   USD Up to 9% 1,720,187 1,427,601 -
Eurobonds 2019 2020   USD 0% to 4.4% - 3,556,724 -
Eurobonds 2019 2027   USD CDI + 6.4% 1,279,506 727,118 -
Eurobonds 2020 2021   USD CDI + 1.9% 170,257 - -
Eurobonds 2020 2021   USD 0% to 4% 3,252,482 - -
Eurobonds 2020 2022   USD 0% to 4% 16,923 - -
Eurobonds 2020 2022   USD CDI + 1.9% 121,926 - -
Eurobonds 2020 2023   USD 0% to 8% 22,888 - -
Eurobonds 2020 2023   USD CDI + 1.9% 223,435 - -
Eurobonds 2020 2024   USD CDI + 1.9% 98,082 - -
Other             13,707 77,695
Total           9,399,277 8,715,382 4,516,647