
	Note	December 31, 2021		December 31, 2020

Investments in debt securities mandatorily at FVTPL	9.1	Ps.	—	Ps.	7,385
Investments in debt securities at FVOCI	9.2		37,493,866		28,966,356
Investments in debt securities at amortized cost	9.3		5,775,070		5,580,128
Investments in equity securities at FVOCI	9.4		1,406,135		1,515,090
		Ps.	44,675,071	Ps.	36,068,959

Loss impairment
Investments in debt securities at amortized cost	4.1.5	Ps.	(10,698)	Ps.	(7,195)
		Ps.	(10,698)	Ps.	(7,195)
Total investment securities net		Ps.	44,664,373	Ps.	36,061,764

Investments in debt securities at fair value through OCI

The following table includes investments in debt securities at FVOCI as of December 31, 2021 and 2020:

December 31, 2021


Debt securities	Cost		Unrealized Gain		Unrealized Losses			Fair Value	ECL
Securities issued or secured by Colombian Government	Ps.	17,139,726	Ps.	25,541	Ps.	(1,093,505)	Ps.	16,071,762	Ps.	7,224
Securities issued or secured by other Colombian Government entities		839,348		8,500		(24,934)		822,914		1,338
Securities issued or secured by foreign Governments		12,520,572		310,558		(98,466)		12,732,664		98,826
Securities issued or secured by central banks		1,874,510		1,199		(17,991)		1,857,718		4,763
Securities issued or secured by other financial entities		4,233,539		14,364		(42,979)		4,204,924		8,325
Securities issued or secured by non-financial sector entities		731,400		9,161		(2,851)		737,710		2,161
Others		1,064,479		20,325		(18,630)		1,066,174		1,341
Total debt securities at FVOCI	Ps.	38,403,574	Ps.	389,648	Ps.	(1,299,356)	Ps.	37,493,866	Ps.	123,978

December 31, 2020


Debt securities		Cost		Unrealized Gain		Unrealized Losses		Fair Value	ECL
Securities issued or secured by Colombian Government	Ps.	12,627,235	Ps.	220,361	Ps.	(397)	Ps.	12,847,199	Ps.	5,290
Securities issued or secured by other Colombian Government entities		439,163		21,910		—		461,073		494
Securities issued or secured by foreign Governments		9,558,777		184,925		(80,378)		9,663,324		73,326
Securities issued or secured by central banks		1,861,216		4,117		(2,411)		1,862,922		4,293
Securities issued or secured by other financial entities		2,843,649		69,033		(250)		2,912,432		8,707
Securities issued or secured by non-financial sector entities		47,550		2,020		—		49,570		51
Others		1,124,667		45,665		(496)		1,169,836		4,325
Total debt securities at FVOCI	Ps.	28,502,257	Ps.	548,031	Ps.	(83,932)	Ps.	28,966,356	Ps.	96,486

Investments in debt securities at amortized cost


Debt securities	December 31, 2021		December 31, 2020
Securities issued or secured by Colombian Government	Ps.	1,569,076	Ps.	1,674,180
Securities issued or secured by other Colombian Government entities		3,696,298		3,378,438
Securities issued or secured by foreign Governments		27,866		34,747
Securities issued or secured by other financial entities		148,087		288,138
Securities issued or secured by non-financial sector entities		266,411		165,663
Others		67,332		38,962
Total debt securities at amortized cost	Ps.	5,775,070	Ps.	5,580,128

Disclosure of detailed information about available for sale debt securities used in collateral repo operations


	December 31,		December 31,
	2021		2020
Pledged as collateral in money market operations
Securities issued or secured by other Colombian Government entities	Ps.	198,282	Ps.	70,197
Securities issued or secured by other financial entities		42,805		182,076
Securities issued or secured by non-financial sector entities		21,900		—
	Ps.	262,987	Ps.	252,273
*Pledged as collateral to special entities such as CRCC, BR and BVC ()**
Securities issued or secured by Colombian Government	Ps.	—	Ps.	573,134
Securities issued or secured by other Colombian Government entities		98,401		—
	Ps.	98,401	Ps.	573,134
	Ps.	361,388	Ps.	825,407

(*) Cámara de Riesgo Central de Contraparte (“CRCC”), Banco de la República (“BR”) and Bolsa de Valores de Colombia (“BVC”)

Disclosure of equity instruments available for sale


Entity ^(*)	December 31, 2021		December 31, 2020
Empresa de Energía de Bogotá S.A. E.S.P.	Ps.	1,188,247	Ps.	1,259,541
Mineros S.A.		86,696		93,134
Bolsa de Valores de Colombia S.A.		38,058		47,947
Port Companies		22,887		38,142
Others		70,247		76,326
Total	Ps.	1,406,135	Ps.	1,515,090

^(*) These investments in equity securities have been designated as FVOCI considering that they represent strategic investments for Grupo Aval and therefore, they are not expected to be sold in a foreseeable future.